In analyzing May sales in Lakeview, Lincoln Park, Near North and the Loop, some encouraging trends are begining to emerge.
While May 2009 Unit Sales showed a 17% drop against May 2008, we have seen an increase in sales for the past four consecutive months (February – May). Last year unit sales were higher; however, the trend was erratic during the same time period.
Months Supply of Inventory has also showed movement in a positive direction. While inventory levels continue to be higher than last year, we have had five consecutive months of of declining Months Supply of Inventory ( January – May ). Last year the trend was also erratic during the same time period.
I am not an economist and I hesitate to read too much into these numbers; however, with what we have been through in the past year, it is good to see these two important indicators trending up.
Please see the Market Statistics tab above for a detailed analysis of Unit Sales, Inventory and Median/Average Sales.
