Good News!

I just came across the AP-RE/MAX Monthly Housing Report for Feb. 2010. Now that I know where to find it, I will be posting this new information every month for your understanding about market conditions in Chicago land.

Data Current Month  Monthly  change Yearly change
Feb-10      
       
Active Inventory 62998 -2.96% -15.51%
Monthly supply of inventory 9.2    
Days on Market 95 -1.55% -28.57%
Median Price-Sold $166,000 -5.14% -10.27%

 

Just for the record, most Realtors feel that a 6 month supply of inventory is a balanced market. The last couple of years we had a 2 year supply of housing available. Inventory is dropping, and because prices have dropped, sales are happening. This is a little light of sunshine.