January a Great Month for Chicago Home Sales

March 04, 2013

graphUPAccording to RE/MAX, January home sales in the seven-county Chicago metro area rose 36 percent from January of 2012. Home prices are also rising in several Chicago-area counties and homes are spending less time on the market.

“The absolute number of homes sold in January tends to be relatively modest in relationship to other months, but the 36 percent year-over-year increase suggests that the rebound in housing activity is maintaining, if not increasing, its momentum,” said Laura Ortoleva, a spokesperson for RE/MAX Northern Illinois.

While home sales increased in all seven metro counties, some fared better than others. Kendall County home sales rose 69 percent, Cook County home sales rose 39 percent and McHenry and Will County home sales rose 28 percent.

In further good news, the average time a Chicago home spent on the market decreased from 174 days in January 2012 to 142 days.

Lastly, homes in several countries are seeing an improvement in prices. Kane County home prices rose 17 percent last month, while home prices in Kendall County rose by 5 percent.

If January is any indication, it looks as if 2013 will continue to be a good year for the Chicago real estate market, especially as we head into the busier spring season.

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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