Monday, January 26, 2009

Chicago-area home sales down 26% last year

Crain's Real Estate Daily:
Home sales tumbled almost 26% last year in the Chicago area, according to the Illinois Assn. of Realtors.

The Chicago-area median price fell 5.5% in 2008, the Realtors’ group said in a release Monday.
Sales fell by similar percentages last year in the city of Chicago and the state.

In the nine-county Chicago region, 68,676 single-family homes and condominiums were sold last year, a decline of 25.9% compared with 92,657 in 2007, the Realtors’ release said.

In the city of Chicago, sales fell 25.1% in 2008, to 20,589 compared with 27,503 in 2007.

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