After four months of consistent results, Lakeview, Lincoln Park, Near North and the Loop posted very mixed numbers when comparing December 2011 to 2010.
Unit Sales dropped for the first time since July of 2011, for the combined areas against the same time period last year; however, Lakeview and properties priced $500,000 and under showed increases. Properties priced over $1,000,000 dropped 49.1%.
Units Under Contract increased for all areas, while Inventory Units and Months of Supply continued dramatic decreases over the same period last year. Inventory levels remain high enough to continue to drive prices down. Median prices in December dropped 18.8% when compared to 2010.
| Dec-11 | Dec-10 | % +/- | |
| Unit Sales – Total | 352 | 373 | -5.6 |
| Lakeview | 76 | 54 | 40.7 |
| Lincoln Park | 29 | 40 | -27.5 |
| Near North | 109 | 107 | 1.9 |
| Loop | 40 | 42 | -4.8 |
| Unit Sales By Price Point | |||
| 0 – $500,000 | 254 | 243 | 4.5 |
| $500,000 – $ 1,000,000 | 73 | 78 | -6.4 |
| $ 1,000,000 – Up | 28 | 55 | -49.1 |
| Units Under Contract – Total | 326 | 302 | 7.9 |
| Lakeview | 62 | 45 | 37.8 |
| Lincoln Park | 27 | 21 | 28.6 |
| Near North | 99 | 91 | 8.8 |
| Loop | 40 | 38 | 5.3 |
| Unit Inventory – Total | 3,776 | 5,519 | -31.6 |
| Lakeview | 744 | 1017 | -26.8 |
| Lincoln Park | 363 | 478 | -24.1 |
| Near North | 881 | 1469 | -40.0 |
| Loop | 330 | 568 | -41.9 |
| Inventory (Months Of Supply) | 8.8 | 14.4 | -38.8 |
| Lakeview | 8.8 | 18.4 | -52.0 |
| Lincoln Park | 10.0 | 17.9 | -44.1 |
| Near North | 6.7 | 13.0 | -48.6 |
| Loop | 5.9 | 10.6 | -43.9 |
| Median Pricing – Total | 315,000 | 388,000 | -18.8 |
| Lakeview | 253,500 | 322,500 | -21.4 |
| Lincoln Park | 288,000 | 351,500 | -18.1 |
| Near North | 247,000 | 270,000 | -8.5 |
| Loop | 211,500 | 261,250 | -19.0 |
Numbers represent only properties listed in the MLS of Northern Illinois.
SOURCE – MRED LLC
