Awesome news once again. Even though, in the end, 2009 as a whole was flat, I’m taking that as a win because we all know it could have been much worse…haha. If you’re looking to buy a home, sell your current place, or even if you know someone who’s looking to rent a place, send me a message to my @properties email: firstname.lastname@example.org.
Chicago area home sales still going up. December a good month!
Posted by ChicagoismynewBlog! on January 26, 2010
(Crain’s) — Chicago-area home sales rose 33% in December compared with the same month last year and were essentially flat for the full year, according to the Illinois Assn. of Realtors.
|Below is a monthly year-over-year comparison of home sales (single-family and condo) in the nine-county Chicago area.|
|Source: Illinois Assn. of Realtors|
Median prices, however, fell sharply last year both in the region and the city.
For all of 2009, 69,290 homes sold in the Chicago area, down a scant 0.2% from 2008, the Realtors said in a release Monday.
That’s a major improvement from 2008, when local sales fell almost 26% compared with 2007.
In December 2009, home sales rose 33.1% locally, to 5,752 compared with 4,320 in December 2008, the sixth consecutive month that area sales increased over the year-ago month.
“In 2009, we saw demand primarily for lower-priced homes from first-time buyers in addition to short sales and sales of foreclosed homes,” Mike Onorato, president of the association and broker-owner of Onorato Real Estate in Coal City, said in the release. “There is opportunity now for the move-up buyer to take advantage of the tax credit that ends April 30 and lower mortgage interest rates, which many analysts expect to rise by mid-year.”
Last year, sales in the city of Chicago fell more sharply than in the entire Chicago area. In the city, 2009 sales fell 7.4%, to 19,401 compared with 20,946 in 2008.
In December alone, city sales rose 39.8%, to 1,768 compared with 1,265 in December 2008.
The median price plunged last year in both the Chicago area and the city. The Chicago-area median — the price at which half the homes sell for more and half for less — dropped 18.3%, to $196,000, compared with 2008….