Monthly Indicators A RESEARCH TOOL REFLECTING RESIDENTIAL REAL ESTATE ACTIVITY WITHIN THE 77 OFFICIALLY DEFINED CHICAGO COMMUNITY AREAS PROVIDED BY THE CHICAGO ASSOCIATION OF REALTORS®
March 2020
Quick Facts
As COVID-19’s impact spread across the country in March, the stock market declines started in February accelerated downward before recovering a bit in the last week of the month. With volatility across all the financial markets, lenders began tightening underwriting standards and some buyers found they no longer were approved for a loan. Massive layoffs also shook the economy with 6.6 million initial jobless claims filed in a single week—double the number last week and ten times higher than any other week on record prior to this month.
+ 1.7%
- 12.7%
+ 10.1%
1-Year Change in Closed Sales All Properties
1-Year Change in Homes for Sale All Properties
1-Year Change in Median Sales Price All Properties
New Listings in the City of Chicago were down 22.1 percent for detached homes and 21.9 percent for attached properties. Listings Under Contract decreased 3.3 percent for detached homes and 26.9 percent for attached properties.
Detached Single-Family Overview
2
Attached Single-Family Overview
3
New Listings
4
The Median Sales Price was up 9.8 percent to $258,000 for detached homes and 11.6 percent to $355,000 for attached properties. Months Supply of Inventory decreased 20.3 percent for detached units and 6.3 percent for attached units.
Closed Sales
5
Under Contract (contingent and pending)
6
Median Sales Price
7
Average Sales Price
8
Average List Price
9
While the effect of COVID-19 is varied throughout the country, we are likely to see impacts to housing activity now and into the coming months. Its continued spread is leading many companies and consumers to change their daily activities. ShowingTime is closely monitoring the situation and releasing daily updates on changes in showing activity. See national and state showing activity trends at https://www.showingtime.com/impact-of-coronavirus/.
Percent of Original List Price Received
10
Housing Affordability Index
11
Market Time
12
Months Supply of Inventory
13
Inventory of Homes for Sale
14
All Properties Market Overview
15
Current as of April 14, 2020. All data from Midwest Real Estate Data reflecting activity within the 77 officially defined Chicago community areas. Report © 2020 ShowingTime.
Detached Single-Family Market Overview Key market metrics for the current month and year-to-date figures for Detached Single-Family Properties.
Key Metrics
Historical Sparklines
New Listings 3-2017
3-2018
3-2019
3-2017
3-2018
3-2019
3-2020
3-2017
3-2018
3-2019
3-2020
3-2017
3-2018
3-2019
3-2020
Under Contract (Contingent and Pending)
Median Sales Price
Average Sales Price 3-2018
3-2019
3-2018
3-2019
3-2017
3-2018
3-2019
3-2020
3-2017
3-2018
3-2019
3-2020
3-2017
3-2018
3-2019
3-2020
Housing Affordability Index
Market Time
Months Supply of Inventory 3-2018
3-2019
3-2018
3-2019
+/–
1,964
1,529
- 22.1%
4,939
4,550
- 7.9%
777
758
- 2.4%
1,989
2,037
+ 2.4%
1,000
967
- 3.3%
2,486
2,644
+ 6.4%
$235,000
$258,000
+ 9.8%
$225,000
$240,750
+ 7.0%
$362,186
$374,623
+ 3.4%
$336,342
$344,861
+ 2.5%
$481,319
$468,094
- 2.7%
$496,795
$486,846
- 2.0%
95.3%
95.7%
+ 0.4%
94.8%
95.1%
+ 0.4%
128
124
- 3.0%
135
133
- 1.0%
111
106
- 4.7%
107
100
- 6.5%
3.9
3.1
- 20.3%
--
--
--
3,441
2,757
- 19.9%
--
--
--
3-2020
Inventory of Homes for Sale 3-2017
YTD 2019 YTD 2020
3-2020
Percent of Original List Price Received
3-2017
+/–
3-2020
Average List Price 3-2017
3-2020
3-2020
Closed Sales
3-2017
3-2019
3-2020
Current as of April 14, 2020. All data from Midwest Real Estate Data reflecting activity within the 77 officially defined Chicago community areas. Report © 2020 ShowingTime. | 2
Attached Single-Family Market Overview Key market metrics for the current month and year-to-date figures for Attached Single-Family Properties.
Key Metrics
Historical Sparklines
New Listings 3-2017
3-2018
3-2019
3-2017
3-2018
3-2019
3-2020
3-2017
3-2018
3-2019
3-2020
3-2017
3-2018
3-2019
3-2020
Under Contract (Contingent and Pending)
Median Sales Price
Average Sales Price 3-2018
3-2019
3-2018
3-2019
3-2017
3-2018
3-2019
3-2020
3-2017
3-2018
3-2019
3-2020
3-2017
3-2018
3-2019
3-2020
Housing Affordability Index
Market Time
Months Supply of Inventory 3-2018
3-2019
3-2018
3-2019
+/–
3,442
2,687
- 21.9%
8,881
8,397
- 5.4%
1,285
1,339
+ 4.2%
2,869
3,008
+ 4.8%
1,797
1,313
- 26.9%
4,293
4,076
- 5.1%
$318,000
$355,000
+ 11.6%
$315,000
$338,360
+ 7.4%
$391,575
$411,813
+ 5.2%
$393,433
$401,986
+ 2.2%
$468,021
$483,375
+ 3.3%
$505,261
$511,399
+ 1.2%
96.5%
97.0%
+ 0.5%
96.0%
96.3%
+ 0.2%
101
96
- 4.6%
101
100
- 1.1%
96
104
+ 8.0%
101
106
+ 5.0%
4.0
3.8
- 6.3%
--
--
--
5,399
4,960
- 8.1%
--
--
--
3-2020
Inventory of Homes for Sale 3-2017
YTD 2019 YTD 2020
3-2020
Percent of Original List Price Received
3-2017
+/–
3-2020
Average List Price 3-2017
3-2020
3-2020
Closed Sales
3-2017
3-2019
3-2020
Current as of April 14, 2020. All data from Midwest Real Estate Data reflecting activity within the 77 officially defined Chicago community areas. Report © 2020 ShowingTime. | 3
New Listings A count of the properties that have been newly listed on the market in a given month.
March
Year to Date
3,299
Detached Single- Year-Over-Year Attached Single- Year-Over-Year Family Change Family Change
8,881
3,442
8,397
8,334 2,687
2,035
5,150
1,964
4,939
4,550
1,529
2018
2019
2020
-3.5%
-22.1%
Detached Single-Family
2018
2019
2020
+4.3%
-21.9%
2018
2019
2020
-4.1%
-7.9%
Detached Single-Family
Attached Single-Family
2018
Apr-2019
2,183
+ 6.9%
3,835
+ 8.7%
May-2019
2,118
- 5.3%
3,941
+ 7.1%
Jun-2019
2,062
- 0.7%
3,460
+ 6.5%
Jul-2019
2,088
+ 0.1%
3,330
+ 5.6%
Aug-2019
1,945
- 5.0%
2,823
- 0.7%
Sep-2019
2,014
- 4.5%
3,368
+ 6.6%
Oct-2019
1,878
- 4.9%
2,845
+ 3.8%
Nov-2019
1,252
- 10.0%
1,597
- 2.6%
Dec-2019
929
- 6.0%
1,066
+ 11.7%
Jan-2020
1,485
+ 2.3%
2,689
+ 6.7%
Feb-2020
1,536
+ 0.9%
3,021
+ 3.5%
2019
2020
Mar-2020
1,529
- 22.1%
2,687
- 21.9%
+6.6%
-5.4%
Average
1,752
- 4.0%
2,889
+ 2.5%
Attached Single-Family
Historical New Listing Activity
Detached Single-Family
Attached Single-Family
6,000
5,000
4,000
3,000
2,000
1,000
0 1-2007
1-2008
1-2009
1-2010
1-2011
1-2012
1-2013
1-2014
1-2015
1-2016
1-2017
1-2018
1-2019
1-2020
Current as of April 14, 2020. All data from Midwest Real Estate Data reflecting activity within the 77 officially defined Chicago community areas. Report Š 2020 ShowingTime. | 4
Closed Sales A count of the actual sales that have closed in a given month.
March
Year to Date
Detached Single- Year-Over-Year Attached Single- Year-Over-Year Family Change Family Change
1,499
3,171 1,285
1,339
2,869
2,151 844
2018
777
1,989
3,008
2,037
758
2019
2020
-7.9%
-2.4%
Detached Single-Family
2018
2019
2020
-14.3%
+4.2%
2018
Attached Single-Family
2019
2020
-7.5%
+2.4%
Detached Single-Family
2018
2019
2020
-9.5%
+4.8%
Apr-2019
909
- 10.0%
1,685
- 0.4%
May-2019
1,071
- 3.9%
1,881
- 2.6%
Jun-2019
1,027
- 9.6%
1,821
- 11.4%
Jul-2019
1,049
+ 0.5%
1,659
- 5.6%
Aug-2019
983
- 10.9%
1,617
- 2.0%
Sep-2019
827
- 0.8%
1,178
- 2.2%
Oct-2019
934
+ 2.0%
1,150
- 3.4%
Nov-2019
739
- 10.9%
931
- 8.9%
Dec-2019
797
+ 0.6%
1,091
+ 19.8%
Jan-2020
671
+ 6.5%
787
+ 9.8%
Feb-2020
608
+ 4.5%
882
+ 1.7%
Mar-2020
758
- 2.4%
1,339
+ 4.2%
Average
864
- 3.7%
1,335
- 1.6%
Attached Single-Family
Historical Pending Sales Activity
Detached Single-Family
Attached Single-Family
2,500
2,000
1,500
1,000
500
0 1-2007
1-2008
1-2009
1-2010
1-2011
1-2012
1-2013
1-2014
1-2015
1-2016
1-2017
1-2018
1-2019
1-2020
Current as of April 14, 2020. All data from Midwest Real Estate Data reflecting activity within the 77 officially defined Chicago community areas. Report Š 2020 ShowingTime. | 5
Under Contract A count of the properties in either a contingent or pending status in a given month.
March
Year to Date
Detached Single- Year-Over-Year Attached Single- Year-Over-Year Family Change Family Change
4,642 4,293 1,979
4,076
1,797 2,760
1,313
2,486
1,171 1,000
2018
2,644
967
2019
2020
-14.6%
-3.3%
Detached Single-Family
2018
2019
2020
-9.2%
-26.9%
2018
Attached Single-Family
2019
2020
-9.9%
+6.4%
Detached Single-Family
2018
Apr-2019
1,119
- 1.3%
1,953
+ 0.2%
May-2019
1,055
- 6.3%
1,722
- 7.4%
Jun-2019
994
- 0.1%
1,565
- 0.9%
Jul-2019
902
- 2.0%
1,371
- 2.3%
Aug-2019
912
0.0%
1,236
- 3.1%
Sep-2019
798
- 0.4%
1,052
+ 0.6%
Oct-2019
867
- 1.8%
1,088
+ 2.4%
Nov-2019
723
+ 4.5%
955
+ 11.4%
Dec-2019
580
- 2.5%
753
- 0.5%
Jan-2020
785
+ 7.4%
1,236
+ 7.9%
+ 18.1%
1,527
+ 13.0%
Feb-2020
892
2019
2020
Mar-2020
967
- 3.3%
1,313
- 26.9%
-7.5%
-5.1%
Average
883
+ 0.5%
1,314
- 1.9%
Attached Single-Family
Historical Under Contract Activity
Detached Single-Family
Attached Single-Family
3,000 2,700 2,400 2,100 1,800 1,500 1,200 900 600 300 0 1-2007
1-2008
1-2009
1-2010
1-2011
1-2012
1-2013
1-2014
1-2015
1-2016
1-2017
1-2018
1-2019
1-2020
Current as of April 14, 2020. All data from Midwest Real Estate Data reflecting activity within the 77 officially defined Chicago community areas. Report Š 2020 ShowingTime. | 6
Median Sales Price Point at which half of the sales sold for more and half sold for less, not accounting for seller concessions, in a given month.
March
Year to Date
$355,000
Detached Single- Year-Over-Year Attached Single- Year-Over-Year Family Change Family Change
$355,000
$345,000
$318,000
$338,360 $315,000
$258,000 $230,500
$240,750
$235,000 $215,000
2018
2019
2020
+2.0%
+9.8%
Detached Single-Family
2018
2019
2020
-10.4%
+11.6%
Attached Single-Family
2018
$225,000
2019
2020
2018
+4.7%
+7.0%
Detached Single-Family
2019
2020
-8.7%
+7.4%
Apr-2019
$249,000
+ 1.6%
$342,500
+ 0.7%
May-2019
$263,000
+ 5.2%
$345,000
+ 4.5%
Jun-2019
$277,000
+ 6.9%
$345,000
+ 2.4%
Jul-2019
$267,000
+ 4.7%
$334,000
- 0.3%
Aug-2019
$250,000
+ 0.4%
$313,000
+ 2.6%
Sep-2019
$243,000
- 0.8%
$334,700
+ 6.3%
Oct-2019
$237,200
+ 3.1%
$327,000
+ 5.5%
Nov-2019
$235,000
+ 4.4%
$313,500
+ 2.8%
Dec-2019
$233,000
+ 8.4%
$320,500
+ 6.8%
Jan-2020
$225,000
+ 2.3%
$310,000
+ 0.6%
Feb-2020
$240,000
+ 6.9%
$323,750
+ 3.2%
Mar-2020
$258,000
+ 9.8%
$355,000
+ 11.6%
Median
$250,000
+ 5.0%
$332,500
+ 3.9%
Attached Single-Family
Historical Median Sales Price
Detached Single-Family
Attached Single-Family
$400,000
$350,000
$300,000
$250,000
$200,000
$150,000
$100,000 1-2007
1-2008
1-2009
1-2010
1-2011
1-2012
1-2013
1-2014
1-2015
1-2016
1-2017
1-2018
1-2019
1-2020
Current as of April 14, 2020. All data from Midwest Real Estate Data reflecting activity within the 77 officially defined Chicago community areas. Report Š 2020 ShowingTime. | 7
Average Sales Price Average sales price for all closed sales, not accounting for seller concessions, in a given month.
March
Year to Date
Detached Single- Year-Over-Year Attached Single- Year-Over-Year Family Change Family Change
Apr-2019
$377,106
- 0.2%
$427,699
+ 0.6%
May-2019
$385,501
+ 3.4%
$416,039
+ 0.8%
Jun-2019
$414,014
+ 7.0%
$420,883
+ 3.5%
Jul-2019
$394,156
+ 3.8%
$425,586
+ 0.2%
Aug-2019
$369,099
- 0.5%
$421,334
+ 2.1%
Sep-2019
$337,777
- 12.0%
$427,911
+ 5.2%
Oct-2019
$333,345
+ 4.0%
$416,263
+ 0.7%
Nov-2019
$327,958
+ 4.9%
$396,587
+ 0.8%
Dec-2019
$363,258
+ 22.2%
$385,840
- 6.7%
Jan-2020
$318,029
+ 5.4%
$385,235
- 4.7%
Feb-2020
$337,355
- 0.6%
$402,015
+ 3.8%
Mar-2020
$374,623
+ 3.4%
$411,813
+ 5.2%
Average
$364,621
+ 2.8%
$414,404
+ 1.2%
$424,748 $393,433
$431,237
$401,986
$411,813 $362,186
$391,575
$374,623
$323,498
$336,342
$344,861
$332,273
2018
2019
2020
+9.0%
+3.4%
Detached Single-Family
2018
2019
2020
-9.2%
+5.2%
Attached Single-Family
2018
2019
2020
2018
+4.0%
+2.5%
Detached Single-Family
2019
2020
-7.4%
+2.2%
Attached Single-Family
Historical Average Sales Price
Detached Single-Family
Attached Single-Family
$450,000
$400,000
$350,000
$300,000
$250,000
$200,000
$150,000 1-2007
1-2008
1-2009
1-2010
1-2011
1-2012
1-2013
1-2014
1-2015
1-2016
1-2017
1-2018
1-2019
1-2020
Current as of April 14, 2020. All data from Midwest Real Estate Data reflecting activity within the 77 officially defined Chicago community areas. Report Š 2020 ShowingTime. | 8
Average List Price Average list price for all new listings in a given month.
March
Year to Date
$481,319 $454,807
2018
$492,425 $468,094
2019
2020
+ 5.8%
- 2.7%
Detached Single-Family
$468,021
2018
$483,375
2019
2020
- 5.0%
+ 3.3%
Attached Single-Family
$476,351
2018
$496,795
Detached Single- Year-Over-Year Attached Single- Year-Over-Year Family Change Family Change
$486,846
2019
2020
+ 4.3%
- 2.0%
$505,655
2018
Detached Single-Family
$505,261
Apr-2019
$496,731
- 3.0%
$488,350
+ 1.7%
May-2019
$471,244
- 1.0%
$475,071
- 0.1%
Jun-2019
$487,218
+ 7.4%
$478,197
+ 2.1%
Jul-2019
$455,196
+ 6.4%
$469,726
- 1.5%
Aug-2019
$393,581
- 6.6%
$456,439
+ 1.1%
Sep-2019
$474,561
- 1.7%
$513,318
+ 2.7%
Oct-2019
$420,670
- 4.6%
$476,395
+ 3.7%
Nov-2019
$370,280
- 2.4%
$462,496
- 4.7%
Dec-2019
$381,273
+ 19.9%
$471,912
+ 7.7%
Jan-2020
$457,736
- 4.9%
$526,990
- 4.0%
Feb-2020
$533,609
+ 0.4%
$522,431
+ 2.1%
Mar-2020
$468,094
- 2.7%
$483,375
+ 3.3%
Average
$455,875
- 0.1%
$486,768
+ 1.1%
$511,399
2019
2020
- 0.1%
+ 1.2%
Attached Single-Family
Historical Average List Price
Detached Single-Family
Attached Single-Family
$600,000 $550,000 $500,000 $450,000 $400,000 $350,000 $300,000 $250,000 $200,000 $150,000 1-2007
1-2008
1-2009
1-2010
1-2011
1-2012
1-2013
1-2014
1-2015
1-2016
1-2017
1-2018
1-2019
1-2020
Current as of April 14, 2020. All data from Midwest Real Estate Data reflecting activity within the 77 officially defined Chicago community areas. Report Š 2020 ShowingTime. | 9
Percent of Original List Price Received Percentage found when dividing a property’s sales price by its original list price, then taking the average for all properties sold in a given month, not accounting for seller concessions.
March
95.3%
2018
Year to Date
95.3%
95.7%
2019
2020
+0.0%
+0.4%
Detached Single-Family
97.2%
2018
96.5%
97.0%
2019
2020
-0.7%
+0.5%
94.5%
2018
Attached Single-Family
94.8%
Detached Single- Year-Over-Year Attached Single- Year-Over-Year Family Change Family Change
95.1%
2019
2020
+0.2%
+0.4%
Detached Single-Family
96.8%
2018
96.0%
96.3%
2019
2020
-0.8%
+0.2%
Apr-2019
95.8%
- 0.7%
97.3%
- 0.4%
May-2019
96.4%
- 0.2%
97.4%
- 0.4%
Jun-2019
96.4%
- 0.8%
97.3%
- 0.4%
Jul-2019
96.5%
- 0.1%
96.9%
- 0.9%
Aug-2019
96.3%
+ 0.7%
96.9%
- 0.3%
Sep-2019
96.1%
+ 0.4%
96.3%
- 0.1%
Oct-2019
95.5%
+ 0.3%
96.0%
+ 0.4%
Nov-2019
95.0%
+ 0.3%
95.9%
+ 0.3%
Dec-2019
94.1%
- 0.3%
95.1%
- 0.4%
Jan-2020
94.6%
+ 0.9%
95.0%
- 0.2%
Feb-2020
94.9%
- 0.2%
96.2%
+ 0.2%
Mar-2020
95.7%
+ 0.4%
97.0%
+ 0.5%
Average
95.7%
- 0.0%
96.6%
- 0.2%
Attached Single-Family
Historical Percent of Original List Price Received
Detached Single-Family
Attached Single-Family
100% 98% 95% 93% 90% 88% 85% 83% 80% 78% 75% 1-2007
1-2008
1-2009
1-2010
1-2011
1-2012
1-2013
1-2014
1-2015
1-2016
1-2017
1-2018
1-2019
1-2020
Current as of April 14, 2020. All data from Midwest Real Estate Data reflecting activity within the 77 officially defined Chicago community areas. Report Š 2020 ShowingTime. | 10
Housing Affordability Index This index measures housing affordability for the region. For example, an index of 120 means the median household income was 120% of what is necessary to qualify for the median-priced home under prevailing interest rates. A higher number means greater affordability.
March 131
Year to Date 128
124
139 101
135
Detached Single- Year-Over-Year Attached Single- Year-Over-Year Family Change Family Change
133
96
89
101
100
91
2018
2019
2020
-2.5%
-3.0%
Detached Single-Family
2018
2019
2020
+12.8%
-4.6%
2018
2019
2020
-3.0%
-1.0%
Detached Single-Family
Attached Single-Family
2018
2019
2020
+10.7%
-1.1%
Apr-2019
122
+ 2.5%
94
+ 3.1%
May-2019
117
- 1.0%
94
+ 0.2%
Jun-2019
110
- 3.7%
94
+ 0.5%
Jul-2019
117
+ 0.5%
98
+ 5.3%
Aug-2019
130
+ 9.9%
107
+ 7.6%
Sep-2019
135
+ 17.1%
100
+ 6.4%
Oct-2019
139
+ 15.9%
104
+ 15.4%
Nov-2019
138
+ 9.9%
106
+ 12.7%
Dec-2019
134
- 5.0%
105
+ 3.7%
Jan-2020
147
+ 5.7%
110
+ 10.1%
Feb-2020
139
+ 3.8%
107
+ 5.5%
Mar-2020
124
- 3.0%
96
- 4.6%
Average
129
+ 4.2%
101
+ 5.4%
Attached Single-Family
Historical Housing Affordability Index
Detached Single-Family
Attached Single-Family
300 275 250 225 200 175 150 125 100 75 50 1-2007
1-2008
1-2009
1-2010
1-2011
1-2012
1-2013
1-2014
1-2015
1-2016
1-2017
1-2018
1-2019
1-2020
Current as of April 14, 2020. All data from Midwest Real Estate Data reflecting activity within the 77 officially defined Chicago community areas. Report Š 2020 ShowingTime. | 11
Market Time Average number of days between when a property is listed and when an offer is accepted in a given month.
March 114
Year to Date 111
106
108
104
Detached Single- Year-Over-Year Attached Single- Year-Over-Year Family Change Family Change
107
106 90
88
2018
2019
2020
-2.3%
-4.7%
Detached Single-Family
2018
101
100
96
2019
2020
+9.5%
+8.0%
2018
Attached Single-Family
2019
2020
-0.9%
-6.5%
Detached Single-Family
2018
2019
2020
+11.6%
+5.6%
Apr-2019
99
+ 2.8%
76
+ 5.3%
May-2019
79
- 2.0%
70
+ 12.1%
Jun-2019
72
- 4.8%
65
+ 18.8%
Jul-2019
68
- 17.4%
64
+ 19.1%
Aug-2019
70
- 10.2%
68
+ 21.2%
Sep-2019
78
- 1.6%
77
+ 18.7%
Oct-2019
78
- 5.4%
83
+ 10.1%
Nov-2019
76
- 3.3%
83
+ 1.6%
Dec-2019
97
+ 16.4%
98
+ 10.9%
Jan-2020
93
- 8.2%
108
+ 10.1%
Feb-2020
100
- 5.3%
108
- 1.0%
Mar-2020
106
- 4.7%
104
+ 8.0%
Average
83
- 3.6%
80
+ 12.2%
Attached Single-Family
Historical Market Time
Detached Single-Family
Attached Single-Family
220 200 180 160 140 120 100 80 60 40 1-2007
1-2008
1-2009
1-2010
1-2011
1-2012
1-2013
1-2014
1-2015
1-2016
1-2017
1-2018
1-2019
1-2020
Current as of April 14, 2020. All data from Midwest Real Estate Data reflecting activity within the 77 officially defined Chicago community areas. Report Š 2020 ShowingTime. | 12
Months Supply of Inventory The inventory of homes for sale at the end of a given month, divided by the average monthly pending sales from the last 12 months.
March
Detached Single- Year-Over-Year Attached Single- Year-Over-Year Family Change Family Change
3.9
4.0
3.9 3.3
3.1
2019
2018
-0.9%
3.8
2018
2020
2019 +22.8%
-20.3%
Detached Single-Family
Apr-2019
4.1
+ 1.7%
4.4
+ 23.2%
May-2019
4.3
+ 1.3%
4.7
+ 24.8%
Jun-2019
4.4
+ 1.6%
4.8
+ 20.3%
Jul-2019
4.5
+ 1.3%
4.8
+ 18.6%
Aug-2019
4.5
- 0.9%
4.7
+ 15.1%
Sep-2019
4.5
- 3.8%
4.9
+ 10.7%
Oct-2019
4.4
- 3.9%
4.7
+ 9.4%
Nov-2019
4.0
- 7.0%
4.0
+ 5.8%
Dec-2019
3.4
- 6.8%
3.2
+ 4.1%
Jan-2020
3.3
- 7.2%
3.4
+ 3.2% - 1.4%
Feb-2020
3.3
- 10.5%
3.6
2020
Mar-2020
3.1
- 20.3%
3.8
- 6.3%
-6.3%
Average
4.0
- 4.3%
4.3
+ 10.8%
Attached Single-Family
Historical Months Supply of Inventory
Detached Single-Family
Attached Single-Family
20 18 16 14 12 10 8 6 4 2 1-2008
1-2009
1-2010
1-2011
1-2012
1-2013
1-2014
1-2015
1-2016
1-2017
1-2018
1-2019
1-2020
Current as of April 14, 2020. All data from Midwest Real Estate Data reflecting activity within the 77 officially defined Chicago community areas. Report Š 2020 ShowingTime. | 13
Inventory of Homes for Sale The inventory of homes for sale at the end of a given month, divided by the average monthly pending sales from the last 12 months.
March
Detached Single- Year-Over-Year Attached Single- Year-Over-Year Family Change Family Change
5,399 4,960
4,686 3,593
3,441 2,757
2018
2019
2020
-4.2%
-19.9%
2018
Detached Single-Family
Apr-2019
3,596
- 2.7%
5,841
+ 15.6%
May-2019
3,713
- 4.1%
6,299
+ 16.8%
Jun-2019
3,814
- 3.9%
6,383
+ 13.1%
Jul-2019
3,915
- 4.6%
6,406
+ 11.7%
Aug-2019
3,903
- 6.1%
6,277
+ 8.8%
Sep-2019
3,919
- 8.6%
6,419
+ 5.4%
Oct-2019
3,797
- 8.7%
6,160
+ 4.9%
Nov-2019
3,454
- 10.6%
5,380
+ 2.5%
Dec-2019
2,987
- 10.1%
4,326
+ 1.3%
Jan-2020
2,925
- 9.6%
4,525
+ 1.5%
Feb-2020
2,924
- 11.2%
4,889
- 1.5%
2019
2020
Mar-2020
2,757
- 19.9%
4,960
- 8.1%
+15.2%
-8.1%
Average
3,475
- 8.1%
5,655
+ 6.2%
Attached Single-Family
Historical Inventory of Homes for Sale
Detached Single-Family
Attached Single-Family
18,000 16,000 14,000 12,000 10,000 8,000 6,000 4,000 2,000 1-2008
1-2009
1-2010
1-2011
1-2012
1-2013
1-2014
1-2015
1-2016
1-2017
1-2018
1-2019
1-2020
Current as of April 14, 2020. All data from Midwest Real Estate Data reflecting activity within the 77 officially defined Chicago community areas. Report Š 2020 ShowingTime. | 14
All Properties Market Overview Key market metrics for the current month and year-to-date figures for all properties.
Key Metrics
Historical Sparklines
New Listings 3-2017
3-2018
3-2019
3-2017
3-2018
3-2019
3-2020
3-2017
3-2018
3-2019
3-2020
3-2017
3-2018
3-2019
3-2020
Under Contract (Contingent and Pending)
Median Sales Price
Average Sales Price 3-2018
3-2019
3-2018
3-2019
3-2017
3-2018
3-2019
3-2020
3-2017
3-2018
3-2019
3-2020
3-2017
3-2018
3-2019
3-2020
Housing Affordability Index
Market Time
Months Supply of Inventory 3-2018
3-2019
3-2018
3-2019
+/–
5,406
4,216
- 22.0%
13,820
12,947
- 6.3%
2,062
2,097
+ 1.7%
4,858
5,045
+ 3.8%
2,797
2,280
- 18.5%
6,779
6,720
- 0.9%
$290,700
$320,000
+ 10.1%
$275,773
$294,688
+ 6.9%
$380,509
$398,370
+ 4.7%
$370,065
$378,928
+ 2.4%
$472,842
$477,840
+ 1.1%
$502,240
$502,779
+ 0.1%
96.1%
96.6%
+ 0.5%
95.5%
95.8%
+ 0.3%
117
111
- 5.3%
123
120
- 2.5%
102
105
+ 2.9%
103
104
+ 0.7%
4.0
3.5
- 12.5%
--
--
--
8,840
7,717
- 12.7%
--
--
--
3-2020
Inventory of Homes for Sale 3-2017
YTD 2019 YTD 2020
3-2020
Percent of Original List Price Received
3-2017
+/–
3-2020
Average List Price 3-2017
3-2020
3-2020
Closed Sales
3-2017
3-2019
3-2020
Current as of April 14, 2020. All data from Midwest Real Estate Data reflecting activity within the 77 officially defined Chicago community areas. Report © 2020 ShowingTime. | 15