May 2020 Chicago

Page 1

Monthly Indicators A RESEARCH TOOL REFLECTING RESIDENTIAL REAL ESTATE ACTIVITY WITHIN THE 77 OFFICIALLY DEFINED CHICAGO COMMUNITY AREAS PROVIDED BY THE CHICAGO ASSOCIATION OF REALTORSÂŽ

May 2020

Quick Facts

While the effects of COVID-19 in the broader economy continue, real estate activity is beginning to recover across much of the country. According to Freddie Mac, mortgage rates have been below 3.3 percent for more than four weeks and are hovering near all-time lows, spurring strong interest by buyers and lifting showing activity up 4% nationally versus a year ago in the final week of May. New Listings in the City of Chicago were down 33.1 percent for detached homes and 28.5 percent for attached properties. Listings Under Contract decreased 8.5 percent for detached homes and 18.9 percent for attached properties. The Median Sales Price was down 2.5 percent to $256,500 for detached homes but was up 2.5 percent to $353,750 for attached properties. Months Supply of Inventory decreased 24.0 percent for detached units and 8.0 percent for attached units. Buyers have been quicker to return to the housing market in force than sellers, who have been showing a bit more reluctance to list their homes than is typical for this time of year. But trends are improving and as states and localities continue to moderate their COVID-19 policies, real estate activity is expected to continue to improve in the coming weeks.

- 43.1%

- 22.1%

- 0.8%

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

Detached Single-Family Overview

2

Attached Single-Family Overview

3

New Listings

4

Closed Sales

5

Under Contract (contingent and pending)

6

Median Sales Price

7

Average Sales Price

8

Average List Price

9

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 June 14, 2020. All data from Midwest Real Estate Data reflecting activity within the 77 officially defined Chicago community areas. Report Š 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 5-2017

5-2018

5-2019

5-2017

5-2018

5-2019

5-2020

5-2017

5-2018

5-2019

5-2020

5-2017

5-2018

5-2019

5-2020

Under Contract (Contingent and Pending)

Median Sales Price

Average Sales Price 5-2018

5-2019

5-2018

5-2019

5-2017

5-2018

5-2019

5-2020

5-2017

5-2018

5-2019

5-2020

5-2017

5-2018

5-2019

5-2020

Housing Affordability Index

Market Time

Months Supply of Inventory 5-2018

5-2019

5-2018

5-2019

+/–

2,118

1,416

- 33.1%

9,240

7,098

- 23.2%

1,071

727

- 32.1%

3,969

3,508

- 11.6%

1,053

964

- 8.5%

4,653

4,075

- 12.4%

$263,000

$256,500

- 2.5%

$241,000

$254,000

+ 5.4%

$385,501

$379,700

- 1.5%

$358,949

$362,945

+ 1.1%

$471,231

$493,323

+ 4.7%

$490,796

$479,921

- 2.2%

96.4%

95.7%

- 0.7%

95.4%

95.5%

+ 0.1%

117

129

+ 10.4%

127

132

+ 3.8%

79

87

+ 10.7%

97

95

- 2.1%

4.3

3.2

- 24.0%

--

--

--

3,720

2,659

- 28.5%

--

--

--

5-2020

Inventory of Homes for Sale 5-2017

YTD 2019 YTD 2020

5-2020

Percent of Original List Price Received

5-2017

+/–

5-2020

Average List Price 5-2017

5-2020

5-2020

Closed Sales

5-2017

5-2019

5-2020

Current as of June 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 5-2017

5-2018

5-2019

5-2017

5-2018

5-2019

5-2020

5-2017

5-2018

5-2019

5-2020

5-2017

5-2018

5-2019

5-2020

Under Contract (Contingent and Pending)

Median Sales Price

Average Sales Price 5-2018

5-2019

5-2018

5-2019

5-2017

5-2018

5-2019

5-2020

5-2017

5-2018

5-2019

5-2020

5-2017

5-2018

5-2019

5-2020

Housing Affordability Index

Market Time

Months Supply of Inventory 5-2018

5-2019

5-2018

5-2019

+/–

3,941

2,819

- 28.5%

16,657

12,948

- 22.3%

1,881

952

- 49.4%

6,435

5,298

- 17.7%

1,721

1,396

- 18.9%

7,967

6,163

- 22.6%

$345,000

$353,750

+ 2.5%

$330,000

$349,894

+ 6.0%

$416,039

$415,655

- 0.1%

$409,014

$405,608

- 0.8%

$474,985

$493,926

+ 4.0%

$494,197

$508,325

+ 2.9%

97.4%

96.8%

- 0.7%

96.8%

96.6%

- 0.1%

94

100

+ 6.6%

97

101

+ 4.1%

70

80

+ 14.0%

85

94

+ 10.6%

4.7

4.4

- 8.0%

--

--

--

6,302

5,152

- 18.2%

--

--

--

5-2020

Inventory of Homes for Sale 5-2017

YTD 2019 YTD 2020

5-2020

Percent of Original List Price Received

5-2017

+/–

5-2020

Average List Price 5-2017

5-2020

5-2020

Closed Sales

5-2017

5-2019

5-2020

Current as of June 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.

May

Year to Date

Detached Single- Year-Over-Year Attached Single- Year-Over-Year Family Change Family Change

16,657 3,941

15,543

3,681

12,948 2,819 2,237

9,430 2,118

9,240 7,098

1,416

2018

2019

2020

-5.3%

-33.1%

Detached Single-Family

2018

2019

2020

+7.1%

-28.5%

2018

Attached Single-Family

2019

2020

-2.0%

-23.2%

Detached Single-Family

2018

2019

2020

+7.2%

-22.3%

Jun-2019

2,062

- 0.7%

3,463

+ 6.6%

Jul-2019

2,088

+ 0.1%

3,331

+ 5.6%

Aug-2019

1,946

- 4.9%

2,823

- 0.7%

Sep-2019

2,014

- 4.5%

3,368

+ 6.6%

Oct-2019

1,882

- 4.7%

2,846

+ 3.9%

Nov-2019

1,254

- 9.8%

1,600

- 2.4%

Dec-2019

932

- 5.7%

1,069

+ 12.1%

Jan-2020

1,490

+ 2.6%

2,698

+ 7.1%

Feb-2020

1,546

+ 1.5%

3,040

+ 4.1%

Mar-2020

1,543

- 21.4%

2,695

- 21.7%

Apr-2020

1,103

- 49.5%

1,696

- 55.8%

May-2020

1,416

- 33.1%

2,819

- 28.5%

Average

1,606

- 12.0%

2,621

- 8.6%

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 June 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.

May

Year to Date

Detached Single- Year-Over-Year Attached Single- Year-Over-Year Family Change Family Change

6,793 1,931

6,435

1,881 5,298 4,276

1,115

3,969 3,508

1,071

952 727

2018

2019

2020

-3.9%

-32.1%

Detached Single-Family

2018

2019

2020

-2.6%

-49.4%

2018

2019

2020

-7.2%

-11.6%

Detached Single-Family

Attached Single-Family

2018

2019

2020

-5.3%

-17.7%

Jun-2019

1,028

- 9.5%

1,821

- 11.4%

Jul-2019

1,049

+ 0.5%

1,659

- 5.6%

Aug-2019

984

- 10.8%

1,617

- 2.0%

Sep-2019

827

- 0.8%

1,179

- 2.2%

Oct-2019

934

+ 2.0%

1,150

- 3.4%

Nov-2019

740

- 10.7%

931

- 8.9%

Dec-2019

800

+ 1.0%

1,092

+ 19.9%

Jan-2020

671

+ 6.5%

789

+ 10.0%

Feb-2020

610

+ 4.8%

883

+ 1.8%

Mar-2020

770

- 0.9%

1,352

+ 5.2%

Apr-2020

730

- 19.7%

1,322

- 21.5%

May-2020

727

- 32.1%

952

- 49.4%

Average

823

- 7.1%

1,229

- 9.1%

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 June 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.

May

Year to Date

Detached Single- Year-Over-Year Attached Single- Year-Over-Year Family Change Family Change

8,450

1,859

7,967

1,721 1,396 1,126

2018

1,053

6,163 5,020

964

2019

2020

-6.5%

-8.5%

Detached Single-Family

4,653 4,075

2018

2019

2020

-7.4%

-18.9%

2018

2019

2020

-7.3%

-12.4%

Detached Single-Family

Attached Single-Family

2018

2019

2020

-5.7%

-22.6%

Jun-2019

994

- 0.1%

1,565

- 0.9%

Jul-2019

902

- 2.0%

1,372

- 2.2%

Aug-2019

911

- 0.1%

1,230

- 3.6%

Sep-2019

796

- 0.6%

1,049

+ 0.3%

Oct-2019

866

- 1.9%

1,089

+ 2.5%

Nov-2019

718

+ 3.8%

954

+ 11.3%

Dec-2019

567

- 4.7%

750

- 0.9%

Jan-2020

773

+ 5.7%

1,231

+ 7.5%

Feb-2020

838

+ 11.1%

1,496

+ 10.7%

Mar-2020

867

- 13.2%

1,236

- 31.2%

Apr-2020

633

- 43.3%

804

- 58.8%

May-2020

964

- 8.5%

1,396

- 18.9%

Average

819

- 6.0%

1,181

- 11.1%

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 June 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.

May

Year to Date

$345,000

Detached Single- Year-Over-Year Attached Single- Year-Over-Year Family Change Family Change

$353,750 $340,000

$330,000

$250,000

$263,000

$256,500 $230,485

2018

2019

2020

+5.2%

-2.5%

Detached Single-Family

2018

2019

2020

+4.5%

+2.5%

Attached Single-Family

2018

$241,000

$349,894 $330,000

$254,000

2019

2020

+4.6%

+5.4%

Detached Single-Family

2018

2019

2020

-2.9%

+6.0%

Jun-2019

$276,874

+ 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%

$334,500

+ 6.2%

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%

$321,000

+ 7.0%

Jan-2020

$225,000

+ 2.3%

$312,000

+ 1.3%

Feb-2020

$240,000

+ 6.9%

$325,000

+ 3.6%

Mar-2020

$257,000

+ 9.4%

$355,000

+ 11.6%

Apr-2020

$287,950

+ 15.6%

$365,000

+ 6.6%

May-2020

$256,500

- 2.5%

$353,750

+ 2.5%

Median

$250,000

+ 4.2%

$335,000

+ 3.7%

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 June 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.

May

Year to Date $412,599

$372,808

$385,501

$416,039

$421,384

$415,655

$409,014

$405,608

$379,700 $349,222

2018

Detached Single- Year-Over-Year Attached Single- Year-Over-Year Family Change Family Change

2019

2020

+3.4%

-1.5%

Detached Single-Family

2018

2019

2020

+0.8%

-0.1%

Attached Single-Family

2018

$358,949

$362,945

2019

2020

+2.8%

+1.1%

Detached Single-Family

2018

2019

2020

-2.9%

-0.8%

Jun-2019

$413,676

+ 6.9%

$420,883

+ 3.5%

Jul-2019

$394,156

+ 3.8%

$425,586

+ 0.2%

Aug-2019

$368,855

- 0.6%

$421,334

+ 2.1%

Sep-2019

$337,777

- 12.0%

$427,607

+ 5.1%

Oct-2019

$333,345

+ 4.0%

$416,263

+ 0.7%

Nov-2019

$327,664

+ 4.8%

$396,587

+ 0.8%

Dec-2019

$362,508

+ 22.0%

$386,091

- 6.6%

Jan-2020

$318,029

+ 5.4%

$386,597

- 4.3%

Feb-2020

$336,663

- 0.8%

$402,404

+ 3.9%

Mar-2020

$372,125

+ 2.7%

$410,728

+ 4.9%

Apr-2020

$399,786

+ 6.0%

$406,621

- 4.9%

May-2020

$379,700

- 1.5%

$415,655

- 0.1%

Average

$364,545

+ 2.5%

$412,043

+ 0.4%

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 June 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.

May

$475,946

Year to Date

$493,323 $471,231

2018

2019

2020

- 1.0%

+ 4.7%

Detached Single-Family

$475,372

2018

$474,985

$493,926

2019

2020

- 0.1%

+ 4.0%

Attached Single-Family

$483,953

2018

$490,796

Detached Single- Year-Over-Year Attached Single- Year-Over-Year Family Change Family Change

$479,921

2019

2020

+ 1.4%

- 2.2%

Detached Single-Family

$492,704

2018

$494,197

$508,325

2019

2020

+ 0.3%

+ 2.9%

Jun-2019

$487,211

+ 7.4%

$478,759

+ 2.2%

Jul-2019

$454,946

+ 6.4%

$469,850

- 1.5%

Aug-2019

$393,542

- 6.6%

$456,189

+ 1.0%

Sep-2019

$474,485

- 1.7%

$513,124

+ 2.6%

Oct-2019

$420,209

- 4.8%

$476,263

+ 3.7%

Nov-2019

$370,399

- 2.4%

$462,655

- 4.7%

Dec-2019

$380,757

+ 19.7%

$470,913

+ 7.5%

Jan-2020

$460,234

- 4.4%

$529,219

- 3.6%

Feb-2020

$533,373

+ 0.4%

$519,865

+ 1.6%

Mar-2020

$465,349

- 3.3%

$481,837

+ 3.0%

Apr-2020

$434,823

- 12.4%

$520,438

+ 6.6%

May-2020

$493,323

+ 4.7%

$493,926

+ 4.0%

Average

$450,980

- 0.8%

$490,328

+ 1.6%

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 June 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.

May

96.6%

2018

Year to Date

96.4%

95.7%

2019

2020

-0.2%

-0.7%

Detached Single-Family

97.8%

2018

97.4%

96.8%

2019

2020

-0.4%

-0.7%

95.5%

2018

95.4%

Detached Single- Year-Over-Year Attached Single- Year-Over-Year Family Change Family Change

95.5%

2019

2020

-0.1%

+0.1%

Detached Single-Family

Attached Single-Family

97.3%

2018

96.8%

96.6%

2019

2020

-0.5%

-0.1%

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%

96.2%

- 0.1%

Oct-2019

95.5%

+ 0.3%

96.0%

+ 0.4%

Nov-2019

95.0%

+ 0.2%

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

95.4%

+ 0.1%

97.0%

+ 0.5%

Apr-2020

96.7%

+ 0.9%

97.4%

+ 0.2%

May-2020

95.7%

- 0.7%

96.8%

- 0.7%

Average

95.7%

+ 0.0%

96.5%

- 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 June 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.

May

Year to Date 129

118

127

127

Detached Single- Year-Over-Year Attached Single- Year-Over-Year Family Change Family Change

132

117 100 94

2018

2019

2020

-1.0%

+10.4%

Detached Single-Family

2018

97

94

101

91

2019

2020

+0.2%

+6.6%

2018

2019

2020

-0.4%

+3.8%

Detached Single-Family

Attached Single-Family

2018

2019

2020

+7.0%

+4.1%

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

135

- 4.9%

105

+ 3.6%

Jan-2020

147

+ 5.7%

110

+ 9.5%

Feb-2020

139

+ 3.9%

107

+ 5.2%

Mar-2020

125

- 2.6%

96

- 4.5%

Apr-2020

118

- 3.7%

99

+ 5.4%

May-2020

129

+ 10.4%

100

+ 6.6%

Average

130

+ 4.7%

102

+ 6.1%

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 June 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.

May

Year to Date

Detached Single- Year-Over-Year Attached Single- Year-Over-Year Family Change Family Change

87 81

98

80

79

97

95

94 85

70 78

62

2018

2019

2020

-2.0%

+10.7%

Detached Single-Family

2018

2019

2020

+12.1%

+14.0%

2018

2019

2020

-1.0%

-2.1%

Detached Single-Family

Attached Single-Family

2018

2019

2020

+9.5%

+9.7%

Jun-2019

72

- 4.9%

65

+ 18.8%

Jul-2019

68

- 17.4%

64

+ 19.1%

Aug-2019

70

- 10.3%

68

+ 21.2%

Sep-2019

78

- 1.6%

77

+ 18.7%

Oct-2019

78

- 5.4%

83

+ 10.1%

Nov-2019

76

- 3.4%

83

+ 1.6%

Dec-2019

96

+ 16.1%

98

+ 10.9%

Jan-2020

93

- 8.2%

109

+ 10.7%

Feb-2020

100

- 5.5%

108

- 1.0%

Mar-2020

105

- 5.5%

103

+ 7.8%

Apr-2020

91

- 7.6%

75

- 2.3%

May-2020

87

+ 10.7%

80

+ 14.0%

Average

83

- 3.8%

81

+ 11.9%

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 June 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.

May

Detached Single- Year-Over-Year Attached Single- Year-Over-Year Family Change Family Change

4.7 4.4

4.3

4.2

3.8 3.2

2019

2018

+1.6%

2018

2020

2019 +24.8%

-24.0%

Detached Single-Family

Jun-2019

4.4

+ 1.9%

4.8

+ 20.4%

Jul-2019

4.5

+ 1.6%

4.8

+ 18.7%

Aug-2019

4.5

- 0.6%

4.8

+ 15.3%

Sep-2019

4.5

- 3.4%

4.9

+ 11.0%

Oct-2019

4.4

- 3.4%

4.7

+ 9.7%

Nov-2019

4.0

- 6.3%

4.1

+ 6.2%

Dec-2019

3.5

- 5.4%

3.3

+ 4.8%

Jan-2020

3.4

- 5.1%

3.4

+ 4.1%

Feb-2020

3.5

- 6.0%

3.7

+ 0.7%

Mar-2020

3.5

- 11.7%

3.9

- 2.1%

Apr-2020

3.5

- 15.8%

4.1

- 5.5%

2020

May-2020

3.2

- 24.0%

4.4

- 8.0%

-8.0%

Average

3.9

- 6.4%

4.2

+ 6.2%

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 June 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.

May

Detached Single- Year-Over-Year Attached Single- Year-Over-Year Family Change Family Change

6,302 5,394 3,870

5,152

3,720 2,659

2018

2019

2020

-3.9%

-28.5%

2018

Detached Single-Family

2019

2020

+16.8%

-18.2%

Jun-2019

3,821

- 3.7%

6,389

+ 13.2%

Jul-2019

3,923

- 4.4%

6,412

+ 11.8%

Aug-2019

3,913

- 5.9%

6,289

+ 9.0%

Sep-2019

3,931

- 8.4%

6,434

+ 5.6%

Oct-2019

3,812

- 8.3%

6,175

+ 5.1%

Nov-2019

3,476

- 10.0%

5,400

+ 2.9%

Dec-2019

3,025

- 9.0%

4,353

+ 1.9%

Jan-2020

2,980

- 7.9%

4,566

+ 2.4%

Feb-2020

3,044

- 7.6%

4,982

+ 0.4%

Mar-2020

2,999

- 12.9%

5,143

- 4.8%

Apr-2020

2,857

- 20.7%

4,978

- 14.8%

May-2020

2,659

- 28.5%

5,152

- 18.2%

Average

3,370

- 10.5%

5,523

+ 1.0%

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 June 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 5-2017

5-2018

5-2019

5-2017

5-2018

5-2019

5-2020

5-2017

5-2018

5-2019

5-2020

5-2017

5-2018

5-2019

5-2020

Under Contract (Contingent and Pending)

Median Sales Price

Average Sales Price 5-2018

5-2019

5-2018

5-2019

5-2017

5-2018

5-2019

5-2020

5-2017

5-2018

5-2019

5-2020

5-2017

5-2018

5-2019

5-2020

Housing Affordability Index

Market Time

Months Supply of Inventory 5-2018

5-2019

5-2018

5-2019

+/–

6,059

4,235

- 30.1%

25,897

20,046

- 22.6%

2,952

1,679

- 43.1%

10,404

8,806

- 15.4%

2,774

2,360

- 14.9%

12,620

10,238

- 18.9%

$315,000

$312,500

- 0.8%

$295,000

$307,000

+ 4.1%

$404,960

$400,087

- 1.2%

$389,917

$388,615

- 0.3%

$473,673

$493,725

+ 4.2%

$492,985

$498,276

+ 1.1%

97.1%

96.3%

- 0.8%

96.3%

96.2%

- 0.1%

109

120

+ 9.6%

117

121

+ 3.5%

73

83

+ 13.7%

90

94

+ 4.9%

4.6

3.9

- 15.2%

--

--

--

10,022

7,811

- 22.1%

--

--

--

5-2020

Inventory of Homes for Sale 5-2017

YTD 2019 YTD 2020

5-2020

Percent of Original List Price Received

5-2017

+/–

5-2020

Average List Price 5-2017

5-2020

5-2020

Closed Sales

5-2017

5-2019

5-2020

Current as of June 14, 2020. All data from Midwest Real Estate Data reflecting activity within the 77 officially defined Chicago community areas. Report © 2020 ShowingTime. | 15


Turn static files into dynamic content formats.

Create a flipbook
Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.