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.