Chicago Foreclosure Trends – October 2010

There were 37,549 Chicago foreclosure homes for sale with 4,395 new foreclosures in October 2010. The average selling price of a Chicago home was $262,164 and the average foreclosure selling price was $119,845, a savings of $142,319 according to RealtyTrac.com.

Chicago Foreclosure Geographical Comparison

Chicago foreclosure activity in October was lower 0.09% higher than national statistics, 0.05% higher than Illinois statistics, and 0.05% lower than Cook County numbers.

Chicago Foreclosure Activity by Month

The number of Bank-Owned Chicago homes decreased from 1,312 homes in Sept to 995 in Oct. The number of Auctioned Chicago homes decreased from 1,431 to 1,383 and Pre-foreclosure acitivity climbed from 1,437 to 2,017. The six month Chicago foreclosure trend is falling.

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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