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Real Data: Price Reductions and Inventory in Chicagoland

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Chicago Agent released its annual Real Data residential reference guide yesterday, and the numbers confirm that 2010 was the year of the price reduction. In Cook County, home prices were reduced by an average of $15,928, and an average of 5.96 percent per month. And we're still sitting on more than a year's worth of inventory (down from 24 months in fall 2008). Agents are bullish on their prospects for 2011, though, as 67 percent of respondents to a Chicago Agent survey said they expect their sales to increase over the next year.
· Real Data 2011 [Chicago Agent]