January 2010 showed significant improvement over January 2009 in almost every category of residential sales for Lakeview, Lincoln Park, Near North and the Loop.
Lincoln Park carried the area with a 120% increase in unit sales.
While these numbers are modest compared to the “boom years”, we are making progress and moving in the right direction.
UNIT SALES – Overall residential home sales for the combined areas rose from 210 units sold in Jan 09 to 294 units sold in Jan 10, for a 40% increase.
Lakeview increased 6% from 51 units in Jan 09 to 54 units in Jan 10
Lincoln Park increased 120% from 24 units in Jan 09 to 53 units in Jan 10
Near North increased 23% from 92 units in Jan 09 to 113 units in Jan 10
The Loop increased 72% from 43 units in Jan 09 to 74 units in Jan 10
UNITS UNDER CONTRACT – The combined areas showed a 105% increase with 204 units in Jan 09 and 420 units in Jan 10.
INVENTORY – Weeks of supply for the combined areas dropped from 24.5 in Jan 09 to 11.1 in Jan 10 for a 55 % decrease.
PRICING – Median prices for the combined areas increased 10% from 393,555 in Jan 09 to 434,950 in Jan10.
Please click on the Market Statistics Tab above for more detailed printable reports.
Source – MRED LLC
