Chicago area real estate statistics for residential and commercial properties have been updated – Chicago real estate statistics.
Overall, inventory is down across all real estate classes and contracts written and real estate sold are up from one year ago. Only businesses and multi-units have seen fewer properties sold than a year ago, current inventory and contracts written reflect that of all other classes (properties for sale is down, whereas contracts written are on the rise).
This has directly impacted the months supply of inventory, leading to the MSI decreasing throughout the various classes. Even with the strong winter/holiday activity this month, it is yet to be seen whether this activity can be sustained until spring when the market traditionally becomes more active and more properties come to market.