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Monthly Indicators: January 2018 Quick Facts
Monthly Indicators: January 2018 Quick Facts
Current as of February 14, 2018. All data from Midwest Real Estate Data reflecting activity within the 77 officially defined Chicago community areas. Report © 2018 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 1-2017 1-2018 +/– YTD 2017 YTD 2018 +/–
Current as of February 14, 2018. All data from Midwest Real Estate Data reflecting activity within the 77 officially defined Chicago community areas. Report © 2018 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 1-2017 1-2018 +/– YTD 2017 YTD 2018 +/–
Current as of February 14, 2018. All data from Midwest Real Estate Data reflecting activity within the 77 officially defined Chicago community areas. Report © 2018 ShowingTime. | 3
New Listings
A count of the properties that have been newly listed on the market in a given month.
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
Current as of February 14, 2018. All data from Midwest Real Estate Data reflecting activity within the 77 officially defined Chicago community areas. Report © 2018 ShowingTime. | 4
Closed Sales
A count of the actual sales that have closed in a given month.
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
Current as of February 14, 2018. All data from Midwest Real Estate Data reflecting activity within the 77 officially defined Chicago community areas. Report © 2018 ShowingTime. | 5
Under Contract
A count of the properties in either a contingent or pending status in a given month.
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
Current as of February 14, 2018. All data from Midwest Real Estate Data reflecting activity within the 77 officially defined Chicago community areas. Report © 2018 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.
$321,750 $321,750
Mar-2017 $235,000 + 14.6% $328,000 + 7.5%
$310,000 $310,000
Apr-2017 $235,000 + 4.4% $328,500 + 2.3%
$265,000 $265,000 May-2017 $255,000 + 11.8% $330,000 + 2.1%
Jun-2017 $260,000 + 6.1% $325,960 + 0.3%
$207,500 $207,500
$190,000 $190,000 Jul-2017 $250,000 + 4.8% $325,000 + 1.6%
$185,000 $185,000
Aug-2017 $228,700 + 1.8% $316,000 + 4.3%
Sep-2017 $226,000 + 5.1% $312,250 + 4.4%
Oct-2017 $220,000 + 1.6% $313,500 + 5.2%
Nov-2017 $220,000 + 4.8% $302,975 - 1.6%
Dec-2017 $219,000 + 9.5% $320,000 + 3.7%
2016 2017 2018 2016 2017 2018 2016 2017 2018 2016 2017 2018 Jan-2018 $207,500 + 9.2% $321,750 + 3.8%
+2.7% +9.2% +17.0% +3.8% +2.7% +9.2% +17.0% +3.8% Median $230,000 + 5.5% $321,000 + 3.5%
Detached Single-Family Attached Single-Family Detached Single-Family Attached Single-Family
$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
Current as of February 14, 2018. All data from Midwest Real Estate Data reflecting activity within the 77 officially defined Chicago community areas. Report © 2018 ShowingTime. | 7
Average Sales Price
Average sales price for all closed sales, not accounting for seller concessions, in a given month.
$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
Current as of February 14, 2018. All data from Midwest Real Estate Data reflecting activity within the 77 officially defined Chicago community areas. Report © 2018 ShowingTime. | 8
Average List Price
Average list price for all new listings in a given month.
$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
Current as of February 14, 2018. All data from Midwest Real Estate Data reflecting activity within the 77 officially defined Chicago community areas. Report © 2018 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.
94.0% 94.3% 94.4% 94.0% 95.3% 96.2% 94.0% 94.3% 94.4% 94.0% 95.3% 96.2% Apr-2017 95.2% - 0.3% 97.5% + 0.3%
May-2017 96.1% - 0.8% 98.0% + 0.7%
Jun-2017 96.5% + 0.0% 97.9% + 0.7%
Jul-2017 96.6% + 0.6% 97.5% + 0.1%
Aug-2017 95.2% - 0.4% 97.3% + 0.6%
Sep-2017 94.7% - 0.4% 96.8% + 0.7%
Oct-2017 94.3% - 0.1% 96.2% + 0.4%
Nov-2017 94.7% + 1.2% 96.6% + 0.7%
Dec-2017 94.8% + 1.8% 96.2% + 0.6%
2016 2017 2018 2016 2017 2018 2016 2017 2018 2016 2017 2018 Jan-2018 94.4% + 0.1% 96.2% + 0.9%
+0.3% +0.1% +1.4% +0.9% +0.3% +0.1% +1.4% +0.9% Average 95.4% + 0.3% 97.1% + 0.6%
Detached Single-Family Attached Single-Family Detached Single-Family 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
Current as of February 14, 2018. All data from Midwest Real Estate Data reflecting activity within the 77 officially defined Chicago community areas. Report © 2018 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.
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
Current as of February 14, 2018. All data from Midwest Real Estate Data reflecting activity within the 77 officially defined Chicago community areas. Report © 2018 ShowingTime. | 11
Market Time
Average number of days between when a property is listed and when an offer is accepted in a given month.
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
Current as of February 14, 2018. All data from Midwest Real Estate Data reflecting activity within the 77 officially defined Chicago community areas. Report © 2018 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.
18
16
14
12
10
2
1-2008 1-2009 1-2010 1-2011 1-2012 1-2013 1-2014 1-2015 1-2016 1-2017 1-2018
Current as of February 14, 2018. All data from Midwest Real Estate Data reflecting activity within the 77 officially defined Chicago community areas. Report © 2018 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.
17,000
15,000
13,000
11,000
9,000
7,000
5,000
3,000
1-2008 1-2009 1-2010 1-2011 1-2012 1-2013 1-2014 1-2015 1-2016 1-2017 1-2018
Current as of February 14, 2018. All data from Midwest Real Estate Data reflecting activity within the 77 officially defined Chicago community areas. Report © 2018 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 1-2017 1-2018 +/– YTD 2017 YTD 2018 +/–
Current as of February 14, 2018. All data from Midwest Real Estate Data reflecting activity within the 77 officially defined Chicago community areas. Report © 2018 ShowingTime. | 15