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from Local Attorney, Michael H. Wasserman

Monday, January 26, 2009

Chicago Area Homes Sales Declined 26% in 2008

The Illinois Association of Realtors reported today that 2008 home sales in the Chicago PMSA were just 68,676, nearly 26% fewer sales than 2007. For those lucky enough to find a buyer, the median sale prices last year was 17.3% lower than 2007.

The PMSA includes Chicago, suburban Cook, and the eight surrounding counties.

There were 20,589 Chicago home sales in 2008, 25% fewer than in 2007.

Well. on the bright side, however gloomy the current market conditions might seem, there are still buyers buying and sellers selling. Also, I am pleased to note that my "market share" of Chicago house and condo closings last year increased over 2007. Here's to doing even better in this new year.