Monday, April 09, 2012

Greater Chicago Real Estate Market

According to the MLS 98,687 residential properties are available

The MRED MLS shows the following active listings as of April 9, 2012

Single Family Home 49,658
Attached Single Family Home 26,990
Multi-Unit Building (2-4 units) 5,084
Mobile Home 358
Vacant Land 10,940
Residential Rental 5,483
Deeded Parking Space 178
Multi-Family Building (5+ units) 934

In the last 30 days there were 7,402 closed sales of residential property. Based on the current level of absorption that means there is 13.33 months of inventory currently listed on the market for sale.

This level is a large oversupply

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