Market Data Analysis
April 2020 Real Estate Data
April Market Data- April data for the Real Estate market in the Chicagoland is in and it isn't as bad as it feels. As expected, the number of newly signed contracts in April is down in all three Chicagoland counties (Lake, Cook, DuPage), with the biggest dip recorded in DuPage- 42.7% reduction in signed contract in comparison to April 2019. The remaining two counties have had somewhat lower dip- Cook County is down 40.8% and Lake County doing best with only 34.2% dip in newly signed contracts.
On a positive note, the average sales price of the properties in April has increased significantly- Cook County (10.7%), Lake County (10.4) and DuPage County (5.9%). This means that despite the Coronavirus scare people in general do not mind investing into their new home. The biggest reason for the drop in newly signed contracts is not the lack of demand, but the clear and obvious lack of supply. Seller's are hesitant to sell, but those who do are cashing in.