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November 2016 Chicago Sales Report for Real Estate Transactions
By Pat Cardoni
The November Chicago sales report numbers are in. It looks like the election malaise is over. Late summer/fall contract slowdown ended with a bang as 80 new construction single family and 168 new construction attached single families went under contract in November.
Since this is a sales numbers report I always try to keep my opinion out of it and simply provide the details you are looking for. Here goes nothing:
Single Family Activity
- Closed – 23
- CTG – 80
- AVG SP – $986,675.00
- AVG PER SQ FT – $261
- LOW – $153
- HIGH – $459
CONDO
- Closed 18
- CTG 168
- AVG SP $1,046,258.00
- AVG PER SQ $440
- LOW $202
- HIGH $989
Condos showed an impressive average sales price of $1,046,258.00 while single families came in at $986,675.00.
This glut of contracts is usually associated with late 2nd quarter closings. However, we could be in store for a great 1st quarter in 2017. The numbers clearly show a start of a release of pent up buyer demand. Only time will tell.
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