Chicago Real Estate Market Snapshot – Dec 2014

Chicago Real Estate Market Snapshot for Dec 2014

  • chicago real estateIn December 2014, 7,971 homes sold in the Chicago PMSA. This marked a 3.7 percent decrease from December 2013 sales of 8,278 homes.
  • The median price in December 2014 was $184,000, up 4.2 percent from $176,500 in December 2013.
  • Listings in December averaged 66 days until sale, a slight increase from 65 days in December 2013.
  • Chicago saw a 6.8 percent decrease in year-over-year home sales in December 2014 with 1,992 sales, down from 2,137 in December 2013.
  • The median price forecast still indicates steady annual increases in median prices for January, February and March compared to a year ago. In the Chicago PMSA, the forecast is 5.3 percent in January, 8.2 percent in February and 5.8 percent in March. The sales forecast for January, February and March 2015 suggests positive year-over-year growth and milder monthly downtrends. In the Chicago PMSA, the change will range from 8.8 percent to 11.5 percent.
  • In December for the Chicago PMSA, the percentage of foreclosed sales (e.g. REOs) among the total sales was 20.6 percent, higher than the 19.2 percent last month. A total of 6,214 regular sales were made, up 11.3 percent from last month.

Information courtesy of Chicago Realtor Karen Breen Elia.

MAKING A POSITIVE DIFFERENCE IN PEOPLE’S LIVES.

Karen Breen Elia & Louis M. Elia, REALTORS®, are brokers for homes, condos, and multi-unit properties on Chicago’s North Side.

ChicagoCityHomes, RE/MAX Exclusive Properties
2951 North Lincoln Avenue
Chicago IL 60657
Toll Free: (866) 404-3585 Fax: (773) 938-1467  Send An Email

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