For Week Ending November 19, 2022
Data current as of November 28, 2022
Housing supply continues to grow nationwide, as higher borrowing costs cause home sales to slow. According to Realtor.com’s Monthly Housing Market Trends Report, the national inventory of active listings increased 33.5% year-over-year in October, the highest inventory level since 2020. As a result, local buyers may find they have more options to choose from, and with homes spending more days on market compared to the same period last year, a bit more time to shop around as well.
SINGLE-FAMILY DETACHED
For the week ending November 19:
New Listings increased 2.2% to 319
Under Contract Sales decreased 23.2% to 162
Inventory increased 7.8% to 2,877
For the month of October:
Median Sales Price increased 5.9% to $306,450
Market Time increased 16.7% to 56
Percent of Original List Price Received decreased 2.1% to 95.4%
Months Supply increased 17.2% to 3.4
SINGLE-FAMILY ATTACHED
For the week ending November 19:
New Listings decreased 30.5% to 292
Under Contract Sales decreased 37.0% to 196
Inventory decreased 27.6% to 4,180
For the month of October:
Median Sales Price decreased 4.3% to $330,000
Market Time decreased 16.3% to 67
Percent of Original List Price Received decreased 0.2% to 96.7%
Months Supply decreased 17.1% to 2.9
Current as of November 28, 2022. All data from Midwest Real Estate Data reflecting activity within the 77 officially defined Chicago community areas. Report © 2022 ShowingTime.
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