We provide statistics pulled directly from the MLS for all of the official 77 Chicago Neighborhoods. Chicago real estate properties map to the official Chicago community names rather than the Chicago neighborhoods, so if you select a neighborhood name for your search, you will likely get data for the broader community of which it is a part.
Midwest Real Estate Data, our MLS, is the premier source for accuracy based on all MLS sales. Using this data, our MLS source compiles a comparison chart for the last month of the current year with the same month from one year prior, i.e., September 2013 compared to September 2012. In addition to comparing one month to the other it also compares year-to-date date from the current year with the prior year, i.e., YTD September 2013 to YTD September 2012. This is conducive to showing if there is a continuum of the monthly trend.
The following data is compared for all Single Family Homes (Detached Single-Family) and all condominiums and townhomes (Attached Single-Family): New Listings, Closed Sales, Median Sales Price, Percentage of the Original List Priced Received, Market Time, and Inventory of Homes for Sale.
These charts are phenomenally useful in determining a number of factors before buying: Is the Neighborhood a good investment, are values going up or down, has this neighborhood hit the bottom, is this neighborhood reaching another bubble, would this be a solid investment?
A perfect example is the Loop. Comparing the month of September 2013 to September 2012, for example, shows that the median sales price of condos and townhomes rose +22.1%. The data also shows the YTD change in median sales price is +7.3%. One would interpret that as a steady rise with current quickening in the rise. This would be a solid investment now while median sales prices are starting to climb aggressively. You would be riding the rapidly appreciating roller coaster while it was in its upward trend.
Our clients like hard facts, and we provide the best. Just click on the neighborhood you are considering and find out the hard true facts related to it…statistic more accurate than any other source on the Internet.
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