Chicago Real Estate Inventory Levels

Inventory Levels for the housing market in the western suburbs of Chicago, IL

 

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49 % of homes sold in Kane county in 2012 were distressed sales. 6546 residential properties sold in 2012 according to MRED MLS and of these 3216 were distressed sales. A distressed property is a short sale, foreclosure, auction or court ordered sale.

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2013 enters with a slight increase in housing inventory in the suburban Chicago

Slight increase in housing inventory

area.

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With the exception of St. Charles, the Fox Valley area continues to  see a  very slight decrease in the housing inventory levels.

Chicago area housing levels show a slow but steady decrease

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Slight uptick in the inventory levels of some western suburbs in the Chicago, IL  area. But for the most part October levels are very close to the September levels.

Chicago western suburbs see slight increase in the housing inventory levels.

Source MRED Multiple Listing Service. Information deemed reliable but not guaranteed.

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The market continues to steadily  absorb the current level of housing inventory in the far western suburbs of Chicago. Is this indicative of a bottom  in our real estate market?  or just evidence that summer is the busy buying season here in Illinois?

Chicago-area month”s supply of housing inventory

 

 

According to the  stats from Illinois Association of Realtors (IAR) the median home price for Kane County has declined 8.4%  while the number of SF units sold increased from  by 18.3% (July year over year).

The average home price  for Kane County declined 14.5% .

So here in Kane county we are seeing an increase in the number of units sold while prices are still declining. More units are moving at the lower prices.

 

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Are you researching schools in your search for a new home?  Check out this recent article from the September 2012 issue of Chicago Magazine noting the best schools in Kane County.

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