February 2010 showed significant improvement over February 2009 in almost every category of residential sales for Lakeview, Lincoln Park, Near North and the Loop.
The only exceptions were slight decreases in median and average prices.
UNIT SALES – Overall residential home sales for the combined areas rose from 173 units sold in Feb 09 to 254 units sold in Feb 10, for a 47% increase.
Lakeview increased 25% from 44 units in Feb 09 to 55 units in Feb 10
Lincoln Park increased 65% from 26 units in Feb 09 to 43 units in Feb 10
Near North increased 21% from 82 units in Feb 09 to 99 units in Feb 10
The Loop increased 171% from 21 units in Feb 09 to 57 units in Feb 10
UNITS UNDER CONTRACT – The combined areas showed a 76% increase with 273 units in Feb 09 and 480 units in Feb 10.
INVENTORY – Months of supply for the combined areas dropped from 19.4 in Feb 09 to 10.9 in Feb 10 for a 44 % decrease.
PRICING – Median prices for the combined areas decreased slightly from 403,131 in Feb 09 to 400,000 in Feb10.
Please click on the Market Statistics Tab above for more detailed printable reports.
Source – MRED LLC
