Appraiser blog for sod by Piekos Appraisals Naperville IL

Appraiser "Blog for Sod"

Latest Naperville Stats Showing Mixed Market

January 27th, 2008 4:46 PM

The MLS of Northern Illinois (MLSNI) has brought out their year-to-date statistics. A synopsis can be found on my web site on the "Statistics" page. While detached housing has held their values in Naperville, volume has dropped. Attached (Condo/Townhouse) housing has seen a 6.3% drop in the average sales price but sales volume is up 31%. You can download these stats for Naperville as well as all the coverage areas served by the MLSNI at www.piekos.com/statistics.

Posted by Paul Piekos on January 27th, 2008 4:46 PMPost a Comment (0)

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Latest home prices reported by NAR

March 19th, 2007 8:27 AM

Local price rose 0.9% 149 markets tracked for the fourth quarter of 2006

The slump in home prices was both deeper and more widespread than ever before in the fourth quarter. As part of its quarterly survey, the National Association of Realtors reported a 2.7 percent decline in prices in the fourth quarter compared to the fourth quarter of a year earlier. That's the biggest year-over-year drop on record.

In addition, 73 markets of 149 tracked reported a decline in prices. That decline was far more widespread than in the third quarter, when only 45 markets reported drops.

Our market (Chicago-Naperville-Joliet area) actually posted a gain of 0.9%, from an average sales price of $265,600 in the 4th Qtr. 2005 to $268,100 in the 4th Qtr. 2006. Home shoppers (you noticed I didn't say "homebuyers") have started to come out after a long, cold February, but there is plenty of leftover winter inventory and there is no impending hurry to buy, so it seems.

Posted by Paul Piekos on March 19th, 2007 8:27 AMPost a Comment (0)

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Chicago Residential Real Estate Market Statistics

February 28th, 2007 5:06 PM

Check out my recent analysis of the city of Chicago residential real estate market. Both detached and attached (condo/townhouse) housing is discussed and analyzed. Complete with colorful graphs and boring stats, generated by AgentMetrics^TM using data provided by the MLS of Northern Illinois. Go to www.piekos.com/statistics to view. Feedback will decide if these statistics and analysis will become a regular occurrance and/or maybe expanded into other (counties, suburbs) geographic areas. Let me know...

Posted by Paul Piekos on February 28th, 2007 5:06 PMPost a Comment (0)

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Welcome to "Blog for Sod"

February 28th, 2007 4:55 PM

Thank you for your interest. Check back here often for the latest info concerning current trends and market conditions in the Chicago and suburban residential real estate market. I'll try and keep you posted of what, I as an appraiser, is seeing and hearing in the marketplace. Typical contacts include real estate agents, loan officers and public officials (local assessors). I'll post what they have to say relevant to how it affects the appraisal industry.

Posted by Paul Piekos on February 28th, 2007 4:55 PMPost a Comment (1)

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