Tuesday, December 02, 2008
Monday, December 01, 2008
According to the Northern Illinois MLS the median sales price in Downers Grove in the twelve months ending November 28, 2008 for detached homes was $375,000.00 with 204 days on the market, with 351 sales.
Median prices have decreased -7.86% , sales volume has decreased -18.18% and marketing times have increased +43.66% over the previous twelve months.
In the twelve months ending November 28, 2007 the median for a detached home was $407,000.00 with 142 days on the market, with 429 sales.
There are currently 416 active listings of detached homes in Downers Grove. At the current level of absorption of 14.22 sales per month this represents a 29.25 month supply of inventory. This is an oversupply. Housing prices are expected to continue declining until this inventory of surplus homes (excess supply) is reduced to more typical levels.
The results of the research are both serious and encouraging. They clearly demonstrate that our current trajectory poses risks to our economy and health. They demonstrate that we need to act now to reduce our emissions, while preparing for climate changes that cannot be avoided. We face a big challenge – but we have also been granted a big opportunity. Every Chicago resident and businesshas a role to play in implenting the Chicago Climate Action Plan, which will not only ensure a more liveable climate for the world, but also for the city. The economy and quality of life could improve. Jobs could be created. New technologies will emerge.
The Chicago Climate Action Plan outlines five strategies, which are broken into 26 actions for mitigating greenhouse gas emissions and nine actions to prepare for climate change. The Chicago Climate Action Plan details steps for organizations of all kinds and suggests actions for every individual. The Plan is a snapshot in time -- the actions detailed in the Strategies section draw on current technology and options now available in the market. As new technologies and options emerge, actions may change. The goal, however, remains the same: to reduce our emissions and prepare for change.
On September 18, Mayor Richard M. Daley, joined by businesses, foundations and residents, unveiled the Chicago Climate Action Plan, an outline of bold ideas that could help expand on the City's successes to slow the effects of climate change. Mayor Daley also discussed how City, businesses, residents will play a major role.
Check out the Action Plan