Chicago Home Sales Heading Toward Recovery

February 17, 2013

home sale signChicago metro home sales are looking better than ever, according to a recent report from RE/MAX.

In the seven-county Chicago metro area, there were 89,039 total home sales in 2012, a 27 percent increase from 2011. This is the largest total number of transactions the area has seen since 2007, when there was a total of 92,328 sales. Average market time for real estate in Chicago is also improving, with an average listing time of 138 days this year compared to 171 days in 2011.

The county breakdown for 2012 home sales is as follows:

  • Cook County- 50,689 sales
  • DuPage County-10,508 sales
  • Kane County-6,284 sales
  • Kendall County- ,879 sales
  • Lake County-8,334 sales
  • McHenry County-3,826 sales
  • Will County-7,519 sales

McHenry County saw the greatest increase in year-over-year home sales, with a 29 percent increase from 2011, while Will County saw the second largest increase with a 27 percent increase from 2011.

One of the biggest surprises of the RE/MAX findings is that fourth quarter home sales, or home sales that take place between October and December, increased by 34 percent from 2011. Since late fall and early winter is traditionally one of the slowest times for home sales, this is a sign that the market is certainly heading in a good direction.

About The Author

Read All Stories By Mitch Levinson

Mitch Levinson is the author of “Internet Marketing: The Key to Increased New Home Sales” published by BuilderBooks. He is an Internet marketing expert with expertise in search engine optimization, website development, email marketing, social media and CRM consulting services. He is known for creating effective programs that can be tracked through analytics to prove effectiveness and ROI. Mitch is founder and president of MLC New Home Marketing and MLC FlatFee Realty, as well as managing partner of mRELEVANCE, LLC, a Marketing, Communication, Interactive agency with offices in Chicago and Atlanta. He currently leads the Chicago team. A Multi-Million Dollar Sales Producer who earned an MBA in Computer Information Systems and eCommerce, he brings a unique perspective and experience to the field of real estate communications. Mitch combines the two interests in order to help home builders and developers gain a competitive advantage through the Internet and technology. When he isn’t behind a computer, he enjoys participating in sports and coaching his kids’ teams. Mitch resides in Arlington Heights, Ill., a northwest suburb of Chicago, with his family, which includes two rambunctious labs. Visit my Google+ profile.

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