Sunday, August 10, 2014

Market conditions in the Mt Greenwood neighborhood of Chicago

Real estate appraiser Michael Walsh appraised a single family home in the Mt Greenwood neighborhood last week and found prices increasing.  According to MRED MLS statistics for the last twelve months for MLS area 8074 Mt Greenwood, the median sales price for Detached Housing increased +2.3%, average marketing time increased +9.7% to 102 days on the market, and there is currently a 4.1 month supply of inventory. This level is considered in balance. REO and Short Sales account for approximately 9% of total sales.

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