News on The Chicago Real Estate Scene

Aug. 26, 2013

Streeterville Market Conditions August 2013

Streeterville Condo Market Conditions Report

Analysis: There are currently 289 Condos for sale in the Chicago neighborhood of Streeterville and there are 155 additional units that have accepted sales contracts.  The ratio of homes under contract to those that are available is 54% which I consider a very healthy market.  


460 Condos have closed in the last 6 months which represents 50% more units than closed last year during the same 6 month period last year.  There is currently 3.77 months of inventory.

Active: 289

Under Contract:  155

Under Contract Ratio: 54%

Number of Expireds/Cancelled Last 6 Months: 279

# Price Changes in Last 7 Days: 8

 

Sold Last 6 Months: 460

Sold Same 6 months 2012: 307

% Change in # Sold(Y/Y): Up 50%

Closed/Month: 76.67

Months of Inventory: 3.77 months - sellers market

Average List Price of Sold Homes: 653,620

Average Sold Price: 625,843

Sold Price to List Price Ratio: 96%

Sold Days on Market: 105

 

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Aug. 9, 2013

Oak Park Real Estate Market Conditions

Good News for Oak Park Real Estate Market!

Analysis: There are currently 119 single family homes on the market in Oak Park, IL and 105 homes that have accepted contracts.  There is an 88% ratio of homes that are active (for sale) to those that are under contract (have accepted contracts). This ratio points to a strong local real estate market where inventories will continue to shrink.

45 homes are being sold each month in the village and inventories are at a low 2.62 months.  This means that if no homes were to come on the market it would take around 2 1/5 months to clear out all of the current inventory.  It is a strong sellers market here and home prices will continue to rise as long as these continue to persist.

31% more homes closed in the last 6 months of 2013 versus the same period in 2012.  Which again points to an improving market.

 

Active: 119

Under Contract:  105

Under Contract Ratio: 88%

Number of Expireds/Cancelled Last 6 Months: 83

# Price Changes in Last 7 Days: 10

 

Sold Last 6 Months: 273

Sold Same 6 months 2012: 209

% Change in # Sold(Y/Y): +31%

Closed/Month: 45 homes

Months of Inventory: 2.62

Average List Price of Sold Homes: $426,401

Average Sold Price: $414,266

Sold Price to List Price Ratio: 97%

Sold Days on Market: 87

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July 19, 2013

MLStown back on Flat Fee MLS Scene

MLStown.com has once again become an active site for flat fee mls listings.  

According to Scott Berg, the sites owner, it had been idled years ago based on proposed rules that would eliminate the companies ability to use a url with the term mls in it.

Those rules never really took hold but the threat had caused them to develop our BergProperties site.  

MLStown will be a conduit for all support and information for "for sale by owner" services.

Berg Properties has recently exited the states of Minnesota, Missouri, and Texas deciding to focus their efforts in the Chicago Metro Area.  

"Although we no longer do business outside Illinois we are happy to refer interested customers to the top flat fee brokers that cover other areas" states Berg.

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March 28, 2012

Flat Fee MLS Listing St. Louis Missouri

Check out our latest video on our flat fee mls listing service in St. Louis Missouri.

Learn more at http://www.bergproperties.com/flat-fee-mls-listing-st-louis.php

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March 10, 2012

Real Estate Scene in Oak Park Illinois

I cool video to youtube on the Oak Park Real Estate Scene.

http://youtu.be/PZnWD_ZNc7E

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March 10, 2012

Flat Fee MLS Chicago Video

Our newest youtube video for our flat fee mls service is now available.

Please tell me what you think.

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Jan. 20, 2012

Foreclosure Listings Down in Chicago

Looking at Chicago foreclosure listings were down 1% in the last 30 days.  Foreclosure listings made up 12.4% of the total number of properties listed in the MLS during the last 30 days.  This compares with  13.4% in the  the 30 days preceding.

Short sales were also down 3% during the same period and stood at 19% of the total listings.  Distressed properties made up 31.4% of the total listings.

On the sales side, foreclosures made up 18.2% of the total closed sales in the last 30 days and short sales made up another 21%.  All in all distressed sales made up 39.2% of total sales up from 34.4% of sales in the preceding 30 day period.

Speaking to some of the big time REO brokers I expect that this trend will reverse over the next several months as banks start to let go of more inventory that was help up do to the robo signing scandal.

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Jan. 19, 2012

Chicago Homes - Market Update

The average list price of Chicago homes for sale is currently strongest at the high end (homes priced above $394,000) and weakest at the low end.  The low end homes are most affected by foreclosures and average list prices have dropped 4.1% over the last year.

Chicago homes trends

Over the same period however the median closed sales price for low end homes has actually risen.  Again this is likely due to forecloses being so aggressively priced that they attract multiple bidders and drive up the end sales price.

Median sales prices for high end homes in Chicago has actually risen by 1.7% over the last 12 months.

The monthly supply of inventory is way down (>17%) for the higher end homes but still stands at 12 months which represents a seller's market.

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Jan. 5, 2012

Where Do The Chicago Bears Call Home?

Where do the Chicago Bears live?  Well they don't own homes in the City of Chicago.

Bob Goldsborough posted this story today at Chicago Real Estate Scene about where the Chicago  Bears do choose to own real estate and call home.

Of course all this could change shortly as heads are currently rolling at Halas Hall.

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Dec. 21, 2011

Houston Flat Fee Special

List your Houston area home on the MLS for a flat fee of $274 for the next 30 days.   This special ends on January 31st 2012.  Use coupon code hst274 in our shopping cart to get the special deal.

Your home will also get listed on major websites like Realtor.com, Yahoo, MSN, AOL, Zillow, Trulia and many others. You can post open houses for the duration of your listing.  The length of the listing is 1 year and all changes are free during that time.

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