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Monthly Indicators A RESEARCH TOOL PROVIDED BY MIDWEST REAL ESTATE DATA LLC FOR MEMBERS OF THE OAK PARK AREA ASSOCIATION OF REALTORSÂŽ RESIDENTIAL REAL ESTATE ACTIVITY ONLY

April 2017 The employment landscape and wages have both improved over the last few years, allowing for more people to participate in the home-buying process. When the economy is in good working order, as it is now, it creates opportunities in residential real estate, and right now is a potentially lucrative time to sell a home. Houses that show well and are priced correctly have been selling quickly, often at higher prices than asking. New Listings in the Oak Park region decreased 23.5 percent to 225. Listings Under Contract were down 0.6 percent to 172. Inventory levels fell 28.9 percent to 379 units. Prices continued to gain traction. The Median Sales Price increased 14.6 percent to $325,000. Market Times were up 7.8 percent to 97 days. Sellers were encouraged as Months Supply of Inventory was down 31.7 percent to 3.2 months. Although there is a mounting amount of buyer competition during the annual spring market cycle, buyer demand has not abated, nor is it expected to in the immediate future unless something unpredictable occurs. While strong demand is generally considered a good problem to have, it creates an affordability issue for some buyers, especially first-time buyers. And yet, prices will continue to rise amidst strong demand.

Quick Facts + 12.2%

+ 14.6%

- 28.9%

Change in Closed Sales

Change in Median Sales Price

Change in Inventory

Market Overview New Listings Closed Sales Under Contract Median Sales Price Average Sales Price Average List Price Percent of Original List Price Received Housing Affordability Index Market Time Months Supply of Inventory Inventory of Homes for Sale

2 3 4 5 6 7 8 9 10 11 12 13

Data current as of May 14, 2017. All data from Midwest Real Estate Data. Powered by ShowingTime 10K.


Market Overview Key market metrics for the current month and year-to-date figures.

Key Metrics

Historical Sparklines

New Listings 4-2014

4-2015

4-2016

4-2015

4-2016

(Contingent and Pending) 4-2015

4-2016

4-2015

4-2016

4-2015

4-2016

4-2015

4-2016

4-2015

4-2016

4-2015

4-2016

4-2015

4-2016

928

883

- 4.8%

131

147

+ 12.2%

353

381

+ 7.9%

173

172

- 0.6%

566

552

- 2.5%

$283,500

$325,000

+ 14.6%

$270,000

$300,000

+ 11.1%

$322,407

$372,673

+ 15.6%

$328,622

$350,171

+ 6.6%

$413,297

$416,780

+ 0.8%

$429,778

$459,114

+ 6.8%

94.6%

95.3%

+ 0.7%

92.6%

94.1%

+ 1.6%

109

90

- 17.4%

114

98

- 14.0%

90

97

+ 7.8%

113

97

- 14.4%

4.7

3.2

- 31.7%

--

--

--

533

379

- 28.9%

--

--

--

4-2017

Market Time 4-2014

- 23.5%

4-2017

Housing Affordability Index 4-2014

225

4-2017

Percent of Original List Price Received 4-2014

294

4-2017

Average List Price 4-2014

+/–

4-2017

Average Sales Price 4-2014

YTD 2016 YTD 2017

4-2017

Median Sales Price 4-2014

+/–

4-2017

Under Contract 4-2014

4-2017

4-2017

Closed Sales 4-2014

4-2016

4-2017

Months Supply of Homes for Sale 4-2014

4-2015

4-2016

4-2017

4-2014

4-2015

4-2016

4-2017

Inventory of Homes for Sale

All data from Midwest Real Estate Data LLC. Powered by ShowingTime 10K. | 2


New Listings A count of the properties that have been newly listed on the market in a given month.

April

Year To Date 928 294

883

819

267 225

+10.1%

-23.5%

2016

2017

2015

2015

Prior Year

Current Year

+/–

May

237

232

-2.1%

June

246

232

-5.7%

July

201

189

-6.0%

August

203

205

+1.0%

September

208

195

-6.3%

October

167

126

-24.6%

November

99

76

-23.2%

Month

+13.3%

-4.8%

2016

2017

December

74

57

-23.0%

January

141

157

+11.3%

February

209

226

+8.1%

March

284

275

-3.2%

April

294

225

-23.5%

12-Month Avg

197

183

-7.1%

Historical New Listing Activity 350

300

250

200

150

100

50 1-2007

1-2008

1-2009

1-2010

1-2011

1-2012

1-2013

1-2014

1-2015

1-2016

1-2017

All data from Midwest Real Estate Data LLC. Powered by ShowingTime 10K. | 3


Closed Sales A count of the actual sales that have closed in a given month.

April

Year To Date 147 381

131

353

102

272

+28.4%

+12.2%

2016

2017

2015

2015

Prior Year

Current Year

+/–

May

127

170

+33.9%

June

177

206

+16.4%

July

150

165

+10.0%

August

138

140

+1.4%

September

87

131

+50.6%

October

108

94

-13.0%

November

74

86

+16.2%

December

95

80

-15.8%

January

64

77

+20.3%

February

67

63

-6.0%

Month

+29.8%

+7.9%

2016

2017

March

91

94

+3.3%

April

131

147

+12.2%

12-Month Avg

109

121

+10.8%

Historical Closed Sales Activity 220 200 180 160 140 120 100 80 60 40 20 0 1-2007

1-2008

1-2009

1-2010

1-2011

1-2012

1-2013

1-2014

1-2015

1-2016

1-2017

All data from Midwest Real Estate Data LLC. Powered by ShowingTime 10K. | 4


Under Contract A count of the properties in either a contingent or pending status in a given month.

April

Year To Date 566 173

172

552

454 134

+29.1%

-0.6%

2016

2017

2015

2015

Prior Year

Current Year

+/–

May

157

169

+7.6%

June

130

170

+30.8%

July

110

96

-12.7%

August

107

121

+13.1%

September

85

98

+15.3%

October

91

87

-4.4%

November

74

69

-6.8%

December

55

69

+25.5%

January

88

82

-6.8%

February

128

130

+1.6%

Month

+24.7%

-2.5%

2016

2017

March

177

168

-5.1%

April

173

172

-0.6%

12-Month Avg

115

119

+4.1%

Historical Under Contract Activity 200 180 160 140 120 100 80 60 40 20 0 1-2007

1-2008

1-2009

1-2010

1-2011

1-2012

1-2013

1-2014

1-2015

1-2016

1-2017

All data from Midwest Real Estate Data LLC. Powered by ShowingTime 10K. | 5


Median Sales Price Median price point for all closed sales, not accounting for seller concessions, in a given month.

April

Year To Date

$353,500 $325,000

$283,000

$300,000 $270,000

$283,500

2015

-19.8%

+14.6%

2016

2017

2015

Prior Year

Current Year

+/–

May

$287,500

$334,200

+16.2%

June

$315,000

$364,450

+15.7%

July

$274,450

$325,000

+18.4%

August

$254,450

$296,000

+16.3%

September

$240,000

$289,900

+20.8%

October

$267,188

$261,625

-2.1%

November

$281,750

$323,000

+14.6%

December

$275,000

$344,250

+25.2%

January

$343,500

$262,000

-23.7%

February

$240,000

$264,500

+10.2%

March

$260,000

$297,500

+14.4%

April

$283,500

$325,000

+14.6%

12-Month Med

$274,900

$315,000

+14.6%

Month

-4.6%

+11.1%

2016

2017

Historical Median Sales Price $450,000 $400,000 $350,000 $300,000 $250,000 $200,000 $150,000 $100,000 1-2007

1-2008

1-2009

1-2010

1-2011

1-2012

1-2013

1-2014

1-2015

1-2016

1-2017

All data from Midwest Real Estate Data LLC. Powered by ShowingTime 10K. | 6


Average Sales Price Average sales price for all closed sales, not accounting for seller concessions, in a given month.

April

Year To Date $372,673

$352,177

$350,171 $322,144

$322,407

2015

- 8.5%

+ 15.6%

2016

2017

2015

Prior Year

Current Year

+/–

May

$360,497

$380,425

+5.5%

June

$376,101

$395,780

+5.2%

July

$317,947

$376,082

+18.3%

August

$319,583

$350,813

+9.8%

September

$286,869

$366,191

+27.7%

October

$318,270

$312,051

-2.0%

November

$343,900

$356,854

+3.8%

December

$326,666

$378,952

+16.0%

January

$393,861

$325,874

-17.3%

February

$298,690

$290,166

-2.9%

March

$313,723

$375,100

+19.6%

April

$322,407

$372,673

+15.6%

12-Month Avg

$333,051

$364,140

+9.3%

Month

$328,622

+ 2.0%

+ 6.6%

2016

2017

Historical Average Sales Price $525,000 $475,000 $425,000 $375,000 $325,000 $275,000 $225,000 $175,000 1-2007

1-2008

1-2009

1-2010

1-2011

1-2012

1-2013

1-2014

1-2015

1-2016

1-2017

All data from Midwest Real Estate Data LLC. Powered by ShowingTime 10K. | 7


Average List Price Average list price for all new listings in a given month.

April

Year To Date

$398,732

$416,780

$413,297

$459,114 $414,368

2015

+ 3.7%

+ 0.8%

2016

2017

2015

Prior Year

Current Year

+/–

May

$389,313

$423,698

+8.8%

June

$374,082

$442,568

+18.3%

July

$381,353

$440,433

+15.5%

August

$376,550

$410,037

+8.9%

September

$429,407

$469,790

+9.4%

October

$383,350

$374,540

-2.3%

November

$357,114

$353,971

-0.9%

December

$348,471

$322,134

-7.6%

January

$411,300

$446,921

+8.7%

February

$462,869

$502,445

+8.5%

March

$431,597

$465,059

+7.8%

April

$413,297

$416,780

+0.8%

12-Month Avg

$402,319

$436,302

+8.4%

Month

$429,778

+ 3.7%

+ 6.8%

2016

2017

Historical Average List Price $550,000 $500,000 $450,000 $400,000 $350,000 $300,000 $250,000 $200,000 1-2007

1-2008

1-2009

1-2010

1-2011

1-2012

1-2013

1-2014

1-2015

1-2016

1-2017

All data from Midwest Real Estate Data LLC. Powered by ShowingTime 10K. | 8


Percent of Original List Price Received Percentage found when dividing a property’s sales price by its original list price, then taking the average for all properties sold in a given month, not accounting for seller concessions.

April

Year To Date 92.2%

94.5%

94.1%

95.3%

94.6%

+0.1%

+0.7%

2016

2017

2015

92.6%

2015

+0.5%

+1.6%

2016

2017

Month

Prior Year

Current Year

+/–

May

93.8%

95.7%

+2.0%

June

93.6%

95.5%

+2.0%

July

94.7%

97.6%

+3.1%

August

93.2%

93.2%

+0.0%

September

90.7%

94.4%

+4.0%

October

92.9%

93.8%

+1.0%

November

92.4%

94.5%

+2.3%

December

93.7%

93.3%

-0.4%

January

91.9%

91.0%

-1.0%

February

89.8%

93.8%

+4.4%

March

92.4%

95.2%

+3.0%

April

94.6%

95.3%

+0.7%

12-Month Avg

93.1%

94.8%

+1.8%

Historical Percent of Original List Price Received 98% 96% 94% 92% 90% 88% 86% 84% 82% 80% 78% 1-2007

1-2008

1-2009

1-2010

1-2011

1-2012

1-2013

1-2014

1-2015

1-2016

1-2017

All data from Midwest Real Estate Data LLC. Powered by ShowingTime 10K. | 9


Housing Affordability Index This index measures housing affordability for the region. An index of 120 means the median household income was 120% of what is necessary to qualify for the median-priced home under prevailing interest rates. A higher number means greater affordability.

April

Year To Date 109

109

114 98

+25.3%

-17.4%

2016

2017

2015

2015

Current Year

+/–

107

92

-14.0%

June

96

86

-10.4%

July

109

96

-11.9%

August

118

106

-10.2%

May

90

87

Prior Year

Month

+4.6%

-14.0%

2016

2017

September

127

108

-15.0%

October

114

121

+6.1%

November

107

93

-13.1%

December

110

85

-22.7%

January

88

112

+27.3%

February

129

111

-14.0%

March

118

99

-16.1%

April

109

90

-17.4%

12-Month Avg

111

100

-9.3%

Historical Housing Affordability Index 220 200 180 160 140 120 100 80 60 40 1-2007

1-2008

1-2009

1-2010

1-2011

1-2012

1-2013

1-2014

1-2015

1-2016

1-2017

All data from Midwest Real Estate Data LLC. Powered by ShowingTime 10K. | 10


Market Time Average number of days between when a property is listed and when an offer is accepted in a given month.

April

Year To Date 113 99

97

97

90

90

+0.9%

+7.8%

2016

2017

2015

2015

Prior Year

Current Year

+/–

May

100

85

-15.4%

June

79

76

-3.1%

July

74

75

+1.2%

August

70

88

+26.1%

September

97

87

-9.7%

October

90

67

-25.9%

November

101

80

-21.3%

December

97

103

+6.0%

January

108

93

-13.7%

February

129

104

-19.4%

March

137

93

-31.9%

April

90

97

+7.8%

12-Month Avg

93

86

-8.2%

Month

+13.5%

-14.4%

2016

2017

Historical Market Times 250 230 210 190 170 150 130 110 90 70 50 1-2007

1-2008

1-2009

1-2010

1-2011

1-2012

1-2013

1-2014

1-2015

1-2016

1-2017

All data from Midwest Real Estate Data LLC. Powered by ShowingTime 10K. | 11


Months Supply of Inventory The inventory of homes for sale at the end of a given month, divided by the average monthly pending sales from the last 12 months.

April

Prior Year

Current Year

+/–

May

5.4

4.6

-14.8%

June

5.7

4.3

-25.3%

July

5.6

4.2

-23.8%

August

5.5

4.1

-25.7%

September

5.6

4.1

-27.9%

October

5.4

3.7

-32.1%

November

4.7

3.0

-35.1%

December

3.9

2.3

-40.2%

January

3.8

2.5

-34.3%

February

4.0

2.8

-30.3%

March

4.3

3.3

-23.8%

April

4.7

3.2

-31.7%

12-Month Avg

4.9

3.5

-28.2%

Month

5.4 4.7

3.2

2015

-13.6%

-31.7%

2016

2017

Historical Months Supply of Inventory 19 17 15 13 11 9 7 5 3 1 1-2008

1-2009

1-2010

1-2011

1-2012

1-2013

1-2014

1-2015

1-2016

1-2017

All data from Midwest Real Estate Data LLC. Powered by ShowingTime 10K. | 12


Inventory of Homes for Sale The number of properties available for sale in active status at the end of a given month.

April

Prior Year

Current Year

+/–

May

541

528

-2.4%

June

577

506

-12.3%

July

568

498

-12.3%

August

574

486

-15.3%

Month

535

533

379

2015

-0.4%

-28.9%

2016

2017

September

585

487

-16.8%

October

563

440

-21.8%

November

488

361

-26.0%

December

411

281

-31.6%

January

405

300

-25.9%

February

436

336

-22.9%

March

479

391

-18.4%

April

533

379

-28.9%

12-Month Avg

513

416

-19.6%

Historical Inventory of Homes for Sale 1,200 1,100 1,000 900 800 700 600 500 400 300 200 1-2007

1-2008

1-2009

1-2010

1-2011

1-2012

1-2013

1-2014

1-2015

1-2016

1-2017

All data from Midwest Real Estate Data LLC. Powered by ShowingTime 10K. | 13


Lender-Mediated Report – April 2017 A RESEARCH TOOL PROVIDED BY MIDWEST REAL ESTATE DATA LLC FOR MEMBERS OF THE OAK PARK AREA ASSOCIATION OF REALTORS® Lender-mediated properties are those marked in MRED as "Foreclosed," "REO," "Pre-Foreclosure" or "Short Sale." Residential activity only.

Share of Closed Sales that were Lender-Mediated: 5.4%

Closed Sales

60%

50%

4-2017

+/–

Traditional

114

139

+21.9%

REO

13

6

-53.8%

Short Sales

4

2

-50.0%

131

147

+12.2%

4-2016

4-2017

+/–

Traditional

$297,450

$358,000

+20.4%

REO

$187,500

$93,450

-50.2%

Short Sales

$205,000

$93,075

-54.6%

Total Market*

$283,500

$325,000

+14.6%

Total Market*

40%

30%

Median Sales Price

20%

10%

0% 1-2008

4-2016

1-2009

1-2010

1-2011

1-2012

1-2013

1-2014

1-2015

1-2016

1-2017

*Total Market is not a sum of traditional, REO and short sale activity, as some lender-mediated homes can be listed both as REO and short sale.

Median Sales Prices

Traditional

Lender-Mediated

$475,000 $425,000 $375,000 $325,000 $275,000 $225,000 $175,000 $125,000 $75,000 $25,000 1-2008

1-2009

1-2010

1-2011

1-2012

1-2013

1-2014

1-2015

1-2016

1-2017

Data current as of May 14, 2017. All data from Midwest Real Estate Data. Powered by ShowingTime 10K.


Lender-Mediated Report – Activity by Area A RESEARCH TOOL PROVIDED BY MIDWEST REAL ESTATE DATA LLC FOR MEMBERS OF THE OAK PARK AREA ASSOCIATION OF REALTORS® Lender-mediated properties are those marked in MRED as "Foreclosed," "REO," "Pre-Foreclosure" or "Short Sale." Residential activity only. | Total represents all traditional and lendermediated activity. Share represents the market share of lender-mediated activity for each area. | Inventory counts are based on one month of activity for the current month. Closed Sales, Median Sales Price and Average Sales Price figures are based on a rolling 12-month timeframe through the month indicated.

Homes for Sale

Closed Sales

Median Sales Price

Average Sales Price

Current Month

Last 12 Months

For the 12 Months Ending…

For the 12 Months Ending…

April 2017

4-2016 Total

LenderMediated

Share

Forest Park

51

6

Oak Park

239

River Forest

89

4-2017

+/–

4-2016

4-2017

+/–

4-2016

4-2017

+/–

4-2016

4-2017

+/–

Total

LenderMediated

Share

11.8%

277

39

14.1%

$76,000

$95,000

+25.0%

$205,000 $209,500

+2.2%

$103,236 $104,007

+0.7%

$207,082

$223,887

+8.1%

11

4.6%

953

73

7.7%

$135,000 $190,000

+40.7%

$340,000 $367,200

+8.0%

$164,888 $210,861

+27.9%

$369,061

$386,115

+4.6%

2

2.2%

223

13

5.8%

$184,000 $265,000

+44.0%

$475,000 $501,500

+5.6%

$296,075 $270,565

-8.6%

$510,634

$538,391

+5.4%

Lender-Mediated

Traditional Properties

Lender-Mediated

Traditional Properties

All data provided by Midwest Real Estate Data LLC. Powered by ShowingTime 10K.

April 2017 Market Stats  
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