2009/03/February 2009 Housing Numbers

According to the Illinois Association of Realtors Chicago-area home sales in the month of February fell about 29%. There were 3,082 single family homes and condos sold in the nine-county (Cook, DeKalb, DuPage, Grundy, Kane, Kendall, Lake, McHenry and Will) Chicago region vs. 4,326 single family homes and condos sold for the same period last year.

The median price of homes in the Chicago-area (same nine county region) fell 23.5%, $183,625 vs. $240,000 for the same period last year.

The news was even worse in the city of Chicago where sales were down 40% (841 units vs. 1412) for the same period a year ago and the median price was down about 24.7% ($218,250 vs. $290,000).