Weekly Activity Report For Week Ending December 10, 2022

Data current as of December 19, 2022

Conforming loan limits on mortgages acquired by Fannie Mae and Freddie Mac will increase in most of the United States to $726,200 in 2023, up from $647,200 in 2022, according to the Federal Housing Finance Agency. Meanwhile, the conforming loan limit in high-cost areas will increase to $1,089,300, exceeding the $1 million dollar mark for the first time. The increases in loan limits will allow a larger group of borrowers to qualify for loans backed by Fannie Mae and Freddie Mac.

SINGLE-FAMILY DETACHED

For the week ending December 10:

• New Listings decreased 4.5% to 256

• Under Contract Sales decreased 11.7% to 158

• Inventory increased 7.3% to 2,667

For the month of November:

• Median Sales Price decreased 6.8% to $288,826

• Market Time increased 43.5% to 66

• Percent of Original List Price Received decreased 2.5% to 95.2%

• Months Supply increased 23.1% to 3.2

SINGLE-FAMILY ATTACHED

For the week ending December 10:

• New Listings decreased 28.3% to 241

• Under Contract Sales decreased 31.3% to 195

• Inventory decreased 25.9% to 3,803

For the month of November:

• Median Sales Price decreased 6.5% to $325,000

• Market Time decreased 12.5% to 70

• Percent of Original List Price Received decreased 0.6% to 96.2%

• Months Supply decreased 13.3% to 2.6

Current as of December 19, 2022. All data from Midwest Real Estate Data reflecting activity within the 77 officially defined Chicago community areas. Report © 2022 ShowingTime.