chicago-condos & Chicago Real Estate pcherry on 30 Mar 2010 01:21 pm

2010 Chicago Condo Sales Data

March 30, 2010 - We hear a lot about how sales are averaging in the Chicago real estate market, but often those numbers include sales of both Chicago condos and single-family homes. The MRED (regional Multiple Listing Service) recently put out some statistics that dealt just with sales of Chicago condos for the first two months (January and February) of 2010.

When compared to Chicago condo sales in 2009, the first two months of 2010 showed an increase of about 30% in revenue. That translates to a total of around $356 million.

There was also an increase of 41% when it came to the number of Chicago condos that closed in January and February of 2010 compared to the same two months in 2009. There were 1,097 condos that close in the first two months of this year.

The amount of time it took to sell a Chicago condo slimmed down as well. In January and February of 2010 it took 8% less time for a condo to sell than it did those same months last year. On average, a condo sat on the market for 143 days before it sold this year.

The average median sales price did decrease as well though. For January and February of 2010, Chicago condos sold for 12% less than they did those same two months of 2009.

We’ll keep you posted as new data becomes available for first quarter 2010 sales of condos in Chicago, so check back with us regularly.

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