Are you wondering yet about how the northside market is going to look in 2010?
Here's the (very) early returns:
Obviously not much to talk about in the SFH box. But condos?
Wow?
Maybe wow. We'll see...
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Recent Posts
- January Chicago-area home sales - chicagotribune.com
- North Center 2009 market results
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- News roundup for Tuesday
- 2010 Chicago real estate (so far)
- Short sales to finally live up to their name
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Single Family Homes
January 11, 2010
January 07, 2010
What's the best month to sell a home in Chicago? Stop guessing.
This time of year, the #1 question I get asked is "What's the best time to list my property?" As Mary Umberger wrote in her Trib column the other day, the vague answer is: "don't wait too long".
But I prefer to use data to solve the mysteries of the housing market...
I shared some similar information last year. But now that 2009 has passed, we have the updated full-year numbers for single family homes AND condos. NOTE: These are CONTRACTS WRITTEN (not closings). I like measuring it this way, because it shows you the month in which buyers make the most decisions to purchase...
Not surprisingly, the SFH home market comes out a little later (on average) than the condo market. What I find interesting is that 2009's December numbers were the highest in at least 5 years! November was the highest in 3 years!
And these numbers are just nuts! The VERY FIRST thing that popped out at me as I was putting this together was that transactions went up every month from Jan-Jun. And Q4 of 2009 outpaced Q4 of 2008 by 81%.
Obviously, Q4 of 2008 was a disaster (stock market, election anxiety, job losses, that horrible Zack and Miri movie etc.), but it's important to note what happened in the later part of 2009's market. Could this be the bottom? We won't know until at least April of 2010. But so far - things are looking up...
August 06, 2009
Single family homes... recovering?
As usual, I've been wondering. Wondering about how many contracts are getting written out there in the market compared to previous years.
No one ever talks about contracts written. I like to call it the "decisions made" index.
These results are from the northside. For sake of speed, I didn't include Bucktown/Wicker Park as I normally would (I have to pull those separately and just didn't feel like it this time - get over it):
There's only one thing notable here - and it's a BIG NOTE - June and July "decisions made" are UP (UP?!) from 2008. I'll be keeping my eye on this.
