Recently a reader, Michael Erdman, wrote me asking how many homes are added to the Chicagoland MLS every month. Using Agent Metrics, a tool for charting and reporting MLS data, I created the chart below showing the number of new listings for houses and condos each month during the past 2 years. I apologize for the lack of readability. Agent Metrics Charts are created to be viewed in a full screen, not the space limitations of my blog.
What’s most obvious to me in the chart is that the number of new homes for sale in our local MLS, Midwest Real Estate Data (MRED), is down this year from last year. 2007 had 3 months (March, April & May) where there were over 29,000 new listings each month! 2008’s highest month was April with just over 26,000 new listings.
The chart also shows the seasonality of real estate in the Chicago Metro Area. New listings are lowest in December. They jump back up in January with the peak in the spring followed by a steady decline through the rest of the year.
Most recently in September 2008 just over 19,000 homes for sale were added to MRED. Great question, Michael!
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{ 2 comments… read them below or add one }
Thanks for posting this information, Fran. I’m constantly reading about inventory and sales figures, but generally don’t hear much about new listings. Thanks again for sharing this with your readership, and keep up the great work here on your blog. -Michael
Fran -
Great information to quell overall panic, etc. I have a friend who is selling her townhouse and will send this on to her – I had pushed her to get it on the market ASAP telling her that November and December are not great months – you’ve got proof of that!
Kudos to you for being such a GREAT researcher and fact-based. Thanks!
Diane