Sunday, November 30, 2014

Chicago appraiser Michael Walsh takes a look at single family housing in the Humboldt Park neighborhood



Today Chicago area real estate appraiser Michael Walsh takes a look at current housing statistics in Humboldt Park,  and finds prices are increasing and the market oversupplied. Bank owned foreclosures and short sales are still a large factor in the neighborhood.


According to MRED MLS statistics for the last twelve months for MLS area 8023 Humboldt Park the median sales price for Detached Housing decreased +23.2%, average marketing time declined -10.6% to 84 days on the market, and there is currently a 4.9 month supply of inventory. This level is considered a oversupply. REO & Short Sales account for approximately 46% of total sales.

Note: This increase in median price is due in part to appreciation and in part to more Fair Market sales than REO/Short Sales in prior years.

Monday, November 24, 2014

Single family home prices are up in Brookfield, IL 60513





Today Chicago area real estate appraiser Michael Walsh takes a look at current housing statistics in Brookfield, Il and fnds prices are increasing and marketing times are down.


According to MRED MLS statistics for the last twelve months for MLS area 513 Brookfield, the median sales price for Detached Housing increased +16.6%, average marketing time decreased -26.7% to 66 days on the market, and there is currently a 3.6 month supply of inventory. This level is considered a in balance. REO & Short Sales account for approximately 27% of total sales. (see attached MLS statistics.)

Thursday, November 20, 2014

The current real estate market in Unincorporate Leyden Township



Real estate appraiser Michael Walsh takes a look at statistics for single family homes in Unincorporated Leyden Township. The unincorporated area is on the edges of Franklin Park, Northlake and Melrose Park. Most have a Melrose Park 60164 mailing address.

 According to MRED MLS statistics for the last twelve months for MLS area 7164 Leyden Township, the median sales price for Detached Housing increased +8.2%, average marketing time declined -27.8% to 91 days on the market, and there is currently a 4.5 month supply of inventory. This level is considered a small oversupply. REO & Short Sales account for approximately 46% of total sales.

Sunday, November 16, 2014

Condominium prices in Evanston, IL 60201 are rising and days on the market are going down



This week real estate appraiser Michael Walsh takes a look at the condominium market in the City of Evanston using statistics from Midwest Real Estate Data the MRED MLS and finds condominium prices on the rise and marketing time down.

According to the MLS in the last 30 days there were 59 new listings for Attached Homes & Condominiums, there were 38 closed sales and 44 listings went under contract.

In the last twelve months the median sales price for One-Unit Housing increased +15.3%, average marketing time declined -41.1% to 83 days on the market, and there is currently a 4.0 month supply of inventory. This level is considered in balance. REO & Short Sales account for approximately 12% of total sales.

Thursday, November 13, 2014

The current real estate market in Franklin Park 60131



Real estate appraiser Michael Walsh takes a look at statistics for single family homes in Franklin Park

According to MRED MLS statistics for the last twelve months for MLS area 131 Franklin Park, the median sales price for Detached Housing increased +9.3%, average marketing time declined -39.5% to 69 days on the market, and there is currently a 4.2 month supply of inventory. This level is considered a small oversupply. REO & Short Sales account for approximately 39% of total sales.

This Month in Real Estate November 2014