The Chicago Tribune reported today that Chicago condo sales went flat in December 2005. The article also mentioned a report by Goldman Sachs that said inventories of both single-family homes and condos in the U.S. “appear to be surging.” This is not the case in Chicago as the chart below illustrates.
The chart is based on data from HousingTracker.Com which reports the number of MLS listings for various metro areas weekly. The data from Chicago includes only the city and surrounding collar suburbs, not the entire metro area.
As you can see, inventories were relatively stable during the fall season. There was a drop during the holiday season which is normal followed by a pickup in January as the spring season starts up.
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- Zillow’s Chicago Real Estate Prices Map
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- Number of New Homes for Sale by Month
