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.