Chicago Condo Market Report for April

The latest stats from our friends over at Chicago Condos Online

Recent Sales (2008 & 2007)

Condo Market Indicators

Year Over Year (April 2008 – April 2007)

Category	April 2008	April 2007	Change
Actives	14,127	14,757	-4%
New Listings	4,464	4,928	-9%
Closings	1,148	1,765	-35%
Median Sales Price	$320,000	$290,000	+10%
Total Sales Volume	$441 million	$575 million	-23%
Avg. Days on Market	123	132	-7%
Supply	9.4 months	9.2 months	+2%

Month Over Month (April 2008 – March 2008)

Category	April 2008	March 2008	Change
Actives	14,127	13,593	+4%
New Listings	4,464	3,743	+19%
Closings	1,148	1,280	-10%
Median Sales Price	$320,000	312,000	-7%
Total Sales Volume	$441 million	$474 million	-7%
Avg. Days on Market	123	137	-10%
Supply	9.4 months	9.1 months	+3%

Statistics above based on units closed or listed on the Multiple Listing Service. MLS figures do not include for-sale-by-owner units (FSBOs), typically less than ten percent of all sales.

Based on sales of 18,000 units in 2007. Nationally, inventory, or supply, of more than six months generally indicates a buyer’s market.