Market update
Combining Cook, Dupage, Lake and Kane County for all residential properties only, it will take 13 months to sell the inventory. In a normal or stabilized market, it takes 5-6 months to do so.
Please take a look at the graphs below, it goes back 3 years, you can easily see how high our inventory is, how our property prices are going down year by year, and average market time is going up.
This graph shows current supply and demand for the past 3 years for Cook, Dupage, Kane and Lake County combined for all residential units
This Graph shows Median Sales Price for Cook, Dupage, Lake and Kane County combined for all residential units.
and last graph shows average days on the market for the same counties and residential units combined
States with the highest foreclosure rates (in the third quarter of 2009 according to
RealtyTrac.com) are:
1. Nevada 2. Arizona 3. California 4. Florida 5. Idaho 6. Utah 7.Georgia 8. Michigan 9. Colorado 10. Illinois
I do have to add that this info is taken from our local MLS and does not include for sale by owners. It it accurate to the best of my knowledge but not guaranteed.