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    Chicago Mid Year Market Report

    We’re halfway through 2015 and taking a look at the numbers to see how Chicago is faring in sales as compared to 2014.

    Overall, the market is quite stable and appreciating, but that isn’t true for every submarket (neighborhood, property type, property size, etc.). By and large, everyone likes to think that because it’s 1 year later, in an appreciating market, that their home value has gone up substantially. Not true across the board and I could tell several stories from the field (so to speak) about what I’ve experienced this year. But for right now, let’s just talk macro-numbers, shall we? All of these figures compare the periods of January 1, 2014-June 30, 2014 with January 1, 2015-June 30, 2015. 

    Condominiums

    Average Sales Price Increase 5.41%

    Total Homes Sold Increase 9.07%

    Total Sales Volume Increase 14.97%

    Average Days on Market Remained the Same

    Single Family Homes

    Average Sales Price Increase 12.01%

    Total Homes Sold Increase 8.95%

    Total Sales Volume Increase 22%

    Average Days on Market Remained the Same

    Multi-Family (2-4 Units)

    Average Sales Price Increase 9.21%

    Total Homes Sold Increase 2.29%

    Total Sales Volume Increase 11.7%

    Average Days on Market Decreased 8%

    The most telling figures are the number of homes sold and the total sales volume, which reveal a lot of energy within our market right now.