Home sales in Chicago increase, while prices drop
By Mary Ellen Podmolik
Copyright © 2010, Chicago Tribune
Published on March 22, 2010 9:20 AM
http://www.chicagobreakingbusiness.com/2010/03/home-sales-in-chicago-increase-while-prices-drop.html
Buyers continued to enter the local housing market last month in search of deals. They found them, particularly within the city of Chicago.
Sales of single-family homes and condominiums rose 41.5 percent in Chicago in February. The median price for the month was $176,500, a 19.3 percent drop from February 2009, the Illinois Association of Realtors said Monday.
For the Chicago area as a whole, the year-over-year median price fell 10.3 percent last month to $165,000. During the month, 4,134 homes were sold, a 32 percent gain from February 2009.
It was the eighth consecutive month of improved sales volume for the Chicago area, and the sixth consecutive month of improvement in the city.
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