Chicago Condo Market Conditions for January 2007

The average number of days on the market for an attached home (includes condos and townhomes) in Chicago rose in January to 84 days. This is up from 82 days in December and 76 days in November. The monthly supply of inventory dropped to 6.6 months from 10 months. This means that it would take 6.6 months for all of the inventory in Chicago to be sold. 2,049 condos & townhomes went under contract in January which is the largest number since last summer. The median sale price rose to $294,450 up from $285,250 in December.

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