Sales continued to outpace inventory in the combined areas of Lakeview, Lincoln Park, Near North and the Loop in July 2013. The real estate market on the North Side continues to improve through the summer months, despite rising interest rates.
While the buying frenzy of the spring months seems to have subsided slightly, the July numbers show that this is still an extremely active market with dramatic increases in Unit Sales, decreases in Unit Inventory and gains in Median Pricing. The overall results are remarkably consistent among most of the areas and categories. (See chart below).
The numbers below represent homes listed in the Chicago Multiple Listing Service (MREDLLC).
Please click on the Market Statistics tab above for more detailed printable reports.
|Unit Sales – Total||789||628||25.6|
|Unit Sales By Price Point|
|0 – $500,000||515||427||20.6|
|$500,000 – $ 1,000,000||207||134||54.5|
|$ 1,000,000 – Up||67||66||1.0|
|Units Under Contract – Total||750||556||34.9|
|Unit Inventory – Total||2,968||3,828||-22.5|
|Inventory (Months Of Supply)||2.4||5.1||-53.4|
|Median Pricing – Total||395,000||365,000||8.2|