Chicago Foreclosure Trends – July 2010

There were 39,006 Chicago foreclosure homes for sale with 5,252 new foreclosures in July 2010. The average selling price of a Chicago home was $271,493 in July and the average foreclosure selling price was $117,816, a savings of $153,677 according to RealtyTrac.com.

Chicago Foreclosure Geographical Comparison

Chicago foreclosure activity in July was lower 0.19% higher than national statistics, 0.07% higher than Illinois statistics, and 0.06% lower than Cook County numbers.

Chicago Foreclosure Activity by Month

The number of Bank-Owned Chicago homes increased from 895 homes in June to 1,231 in July. The number of Auctioned Chicago homes also increased from 1,098 to 1,800 and Pre-foreclosure acitivity dropped from 2,238 to 2,221. The six month Chicago foreclosure trend is rising.

Are you or someone you know behind on your mortgage payments and facing a Chicago foreclosure? You do have options. A foreclosure is not the only way. A short sale may be the answer to saving you, your family and your home. I am a Certified Distressed Property Expert (CDPE). I have the training, knowledge and experience needed to help save your Chicago home from foreclosure. The clock is ticking. Don’t hesitate. Give me a call for a private consultation.

Learn more about selling your Chicago home.

What’s your Chicago home worth?

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