December ended on a high note for the combined areas of Lakeview, Lincoln Park, Near North and the Loop, as all categories showed improvement comparing Dec 08 to Dec 09 and Dec 09 to Nov 09.
Near North carried the area with some very significant increases. Lincoln Park was also up, while Lakeview and the Loop were down.
While we still have a long way to go, 2009 ended with some very positive trends.
UNIT SALES – Overall residential home sales for the combined areas rose from 384 units sold in Dec 08 to 473 units sold in Dec 09, for a 23% increase. (Dec 09 was up 16 % over Nov 09)
Lakeview decreased 9% from 98 units in Dec 08 to 89 units in Dec 09
Lincoln Park increased 11% from 56 units in Dec 08 to 62 units in Dec 09
Near North increased 83% from 138 units in Dec 08 to 253 units in Dec 09
The Loop decreased 25% from 92 units in Dec 08 to 69 units in Dec 09
UNITS UNDER CONTRACT – The combined areas showed a 77% increase with 247 units in Dec 08 and 438 units in Dec 09. (Dec 09 was up 29% over Nov 09)
INVENTORY – Weeks of supply for the combined areas dropped from 19.0 in Dec 08 to 9.8 in Dec 09 for a 48 % decrease (Dec 09 decreased 32% over Nov 09)
PRICING – Median prices for the combined areas dropped slightly from 389,950 in Dec 08 to 388,900 in Dec 09. (Dec 09 prices were up 6.5% over Nov 09)
Please click on the Market Statistics Tab above for more detailed printable reports.
Source – MRED LLC
