Page 1

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 2018 Many sellers and builders are in a good position for financial gains, as the economy continues to favor putting existing homes on the market and building new homes for sale. We are finally beginning to see some upward movement in new listings after at least two years of a positive outlook. There may not be massive increases in inventory from week to week, but a longer-term trend toward more new listings would be a good sign. Low inventory should continue to create a competitive situation for buyers, causing price increases over the next several months. New Listings in the Oak Park region increased 36.4 percent to 307. Listings Under Contract were up 6.7 percent to 174. Inventory levels rose 18.2 percent to 468 units. Prices continued to gain traction. The Median Sales Price increased 4.6 percent to $340,000. Market Times were down 22.9 percent to 75 days. Buyers felt empowered as Months Supply of Inventory was up 22.8 percent to 4.1 months. This winter and spring exhibited unseasonal weather patterns in much of the country. As the seasons change to something more palatable, wages and consumer spending are both up, on average, which should translate positively for the housing market. Being quick with an offer is still the rule of the day as the number of days a home stays on the market drops lower. If that wasn't enough for buyers to mull over with each potential offer, being aware of pending mortgage rate increases is once again in fashion.

Quick Facts - 19.6%

+ 4.6%

+ 18.2%

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, 2018. All data from Midwest Real Estate Data. Report Š 2018 ShowingTime.


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

Key Metrics

Historical Sparklines

New Listings 4-2015

4-2016

4-2017

4-2016

4-2017

(Contingent and Pending) 4-2016

4-2017

4-2016

4-2017

4-2016

4-2017

4-2016

4-2017

4-2016

4-2017

4-2016

4-2017

4-2016

4-2017

885

982

+ 11.0%

148

119

- 19.6%

383

346

- 9.7%

163

174

+ 6.7%

541

520

- 3.9%

$325,000

$340,000

+ 4.6%

$300,000

$315,250

+ 5.1%

$370,689

$359,513

- 3.0%

$349,730

$354,512

+ 1.4%

$412,139

$458,087

+ 11.1%

$456,056

$474,546

+ 4.1%

95.3%

95.0%

- 0.3%

94.2%

94.8%

+ 0.7%

98

91

- 7.1%

106

99

- 6.6%

97

75

- 22.9%

96

87

- 9.5%

3.4

4.1

+ 22.8%

--

--

--

396

468

+ 18.2%

--

--

--

4-2018

Market Time 4-2015

+ 36.4%

4-2018

Housing Affordability Index 4-2015

307

4-2018

Percent of Original List Price Received 4-2015

225

4-2018

Average List Price 4-2015

+/–

4-2018

Average Sales Price 4-2015

YTD 2017 YTD 2018

4-2018

Median Sales Price 4-2015

+/–

4-2018

Under Contract 4-2015

4-2018

4-2018

Closed Sales 4-2015

4-2017

4-2018

Months Supply of Homes for Sale 4-2015

4-2016

4-2017

4-2018

4-2015

4-2016

4-2017

4-2018

Inventory of Homes for Sale

All data from Midwest Real Estate Data LLC. Report © 2018 ShowingTime. | 2


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

April

Year To Date 307

294

982

928

885

225

2016

-23.5%

+36.4%

2017

2018

Prior Year

Current Year

+/–

May

232

294

+26.7%

June

232

256

+10.3%

July

190

222

+16.8%

August

205

194

-5.4%

September

195

213

+9.2%

October

126

174

+38.1%

November

76

109

+43.4%

Month

2016

-4.6%

+11.0%

2017

2018

December

57

76

+33.3%

January

157

172

+9.6%

February

227

225

-0.9%

March

276

278

+0.7%

April

225

307

+36.4%

12-Month Avg

183

210

+14.6%

Historical New Listing Activity 400 350 300 250 200 150 100 50 1-2007

1-2008

1-2009

1-2010

1-2011

1-2012

1-2013

1-2014

1-2015

1-2016

1-2017

1-2018

All data from Midwest Real Estate Data LLC. Report Š 2018 ShowingTime. | 3


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

April

Year To Date 148 383

131

353

119

2016

+13.0%

-19.6%

2017

2018

Prior Year

Current Year

+/–

May

170

157

-7.6%

June

206

199

-3.4%

July

165

138

-16.4%

August

140

158

+12.9%

September

131

107

-18.3%

October

94

91

-3.2%

November

86

85

-1.2%

December

80

72

-10.0%

January

78

66

-15.4%

February

63

59

-6.3%

Month

346

2016

+8.5%

-9.7%

2017

2018

March

94

102

+8.5%

April

148

119

-19.6%

12-Month Avg

121

113

-6.7%

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

1-2018

All data from Midwest Real Estate Data LLC. Report Š 2018 ShowingTime. | 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

2016

541

174

163

-5.8%

+6.7%

2017

2018

Prior Year

Current Year

+/–

May

169

163

-3.6%

June

170

147

-13.5%

July

96

119

+24.0%

August

120

114

-5.0%

September

97

79

-18.6%

October

88

89

+1.1%

November

67

67

0.0%

December

69

66

-4.3%

January

81

72

-11.1%

February

130

126

-3.1%

Month

2016

520

-4.4%

-3.9%

2017

2018

March

167

148

-11.4%

April

163

174

+6.7%

12-Month Avg

118

114

-3.7%

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

1-2018

All data from Midwest Real Estate Data LLC. Report Š 2018 ShowingTime. | 5


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

April

Year To Date

$325,000

$315,250

$300,000

$340,000 $270,000

$283,500

2016

+14.6%

+4.6%

2017

2018

2016

Prior Year

Current Year

+/–

May

$334,200

$321,000

-3.9%

June

$364,450

$335,000

-8.1%

July

$325,000

$307,000

-5.5%

August

$296,000

$333,500

+12.7%

September

$289,900

$310,000

+6.9%

October

$261,625

$255,000

-2.5%

November

$323,000

$260,000

-19.5%

December

$344,250

$244,590

-28.9%

January

$268,500

$379,125

+41.2%

February

$264,500

$235,000

-11.2%

March

$297,500

$282,250

-5.1%

April

$325,000

$340,000

+4.6%

12-Month Med

$315,000

$310,000

-1.6%

Month

+11.1%

+5.1%

2017

2018

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

1-2018

All data from Midwest Real Estate Data LLC. Report Š 2018 ShowingTime. | 6


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

April

Year To Date $370,689

$359,513

2016

$354,512

$349,730 $328,622

$322,407

+ 15.0%

- 3.0%

2017

2018

2016

Prior Year

Current Year

+/–

May

$380,425

$374,219

-1.6%

June

$395,719

$373,841

-5.5%

July

$376,082

$359,817

-4.3%

August

$350,813

$391,152

+11.5%

September

$366,275

$363,218

-0.8%

October

$312,051

$346,839

+11.1%

November

$356,854

$311,446

-12.7%

December

$378,952

$322,967

-14.8%

January

$327,466

$387,351

+18.3%

February

$290,206

$329,043

+13.4%

March

$375,100

$342,161

-8.8%

April

$370,689

$359,513

-3.0%

12-Month Avg

$364,003

$360,250

-1.0%

Month

+ 6.4%

+ 1.4%

2017

2018

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

1-2018

All data from Midwest Real Estate Data LLC. Report Š 2018 ShowingTime. | 7


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

April

Year To Date $458,087

$413,297

2016

$474,546

$456,056 $429,789

$412,139

- 0.3%

+ 11.1%

2017

2018

2016

Prior Year

Current Year

+/–

May

$423,698

$402,961

-4.9%

June

$442,568

$474,769

+7.3%

July

$440,433

$410,340

-6.8%

August

$409,305

$389,376

-4.9%

September

$467,315

$395,870

-15.3%

October

$372,834

$460,087

+23.4%

November

$353,971

$395,547

+11.7%

December

$321,713

$415,292

+29.1%

January

$445,230

$459,581

+3.2%

February

$500,756

$481,921

-3.8%

March

$461,230

$496,088

+7.6%

April

$412,139

$458,087

+11.1%

12-Month Avg

$434,683

$441,151

+1.5%

Month

+ 6.1%

+ 4.1%

2017

2018

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

1-2018

All data from Midwest Real Estate Data LLC. Report Š 2018 ShowingTime. | 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 92.6%

94.6%

95.3%

95.0%

+0.7%

-0.3%

2017

2018

2016

94.8%

94.2%

+1.6%

+0.7%

2017

2018

2016

Month

Prior Year

Current Year

+/–

May

95.7%

96.4%

+0.8%

June

95.5%

96.7%

+1.2%

July

97.6%

96.7%

-1.0%

August

93.2%

95.5%

+2.5%

September

94.4%

95.5%

+1.2%

October

93.8%

94.8%

+1.0%

November

94.5%

95.3%

+0.8%

December

93.3%

94.5%

+1.2%

January

91.1%

93.7%

+2.9%

February

93.8%

95.3%

+1.6%

March

95.2%

95.0%

-0.2%

April

95.3%

95.0%

-0.3%

12-Month Avg

94.8%

95.6%

+0.9%

Historical Percent of Original List Price Received 100% 98% 96% 94% 92% 90% 88% 86% 84% 82% 80% 78% 76% 1-2007

1-2008

1-2009

1-2010

1-2011

1-2012

1-2013

1-2014

1-2015

1-2016

1-2017

1-2018

All data from Midwest Real Estate Data LLC. Report © 2018 ShowingTime. | 9


Housing Affordability Index This index measures housing affordability for the region. For example, 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 110

116

98

106

91

-10.9%

-7.1%

2017

2018

2016

Prior Year

Current Year

+/–

May

94

99

+5.3%

June

86

95

+10.5%

July

97

104

+7.2%

August

106

95

-10.4%

September

110

103

-6.4%

October

122

125

+2.5%

November

95

121

+27.4%

December

87

129

+48.3%

January

116

82

-29.3%

February

118

132

+11.9%

March

105

110

+4.8%

April

98

91

-7.1%

12-Month Avg

103

107

+5.4%

Month

2016

99

-8.6%

-6.6%

2017

2018

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

1-2018

All data from Midwest Real Estate Data LLC. Report Š 2018 ShowingTime. | 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 97

90

96 87 75

2016

+7.2%

-22.9%

2017

2018

Prior Year

Current Year

+/–

May

85

64

-23.9%

June

76

60

-21.6%

July

75

60

-20.0%

August

88

71

-19.7%

September

87

78

-10.3%

October

67

65

-3.4%

November

80

87

+9.1%

Month

2016

-14.8%

-9.5%

2017

2018

December

103

100

-2.5%

January

92

104

+12.8%

February

104

88

-15.5%

March

93

90

-3.5%

April

97

75

-22.9%

12-Month Avg

86

74

-13.2%

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

1-2018

All data from Midwest Real Estate Data LLC. Report Š 2018 ShowingTime. | 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

4.6

3.8

-17.9%

June

4.3

3.9

-8.5%

July

4.2

3.9

-9.1%

August

4.1

3.7

-11.2%

September

4.1

4.0

-2.9%

October

3.7

3.8

+2.5%

November

3.1

3.2

+3.2%

December

2.4

2.6

+10.7%

January

2.6

2.9

+14.5%

February

2.9

3.2

+13.0%

March

3.4

3.7

+11.3%

April

3.4

4.1

+22.8%

12-Month Avg

3.5

3.6

+0.4%

Month

4.7 4.1 3.4

2016

-28.0%

+22.8%

2017

2018

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

1-2018

All data from Midwest Real Estate Data LLC. Report Š 2018 ShowingTime. | 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

+/–

529

442

-16.4%

June

507

451

-11.0%

July

500

454

-9.2%

August

489

428

-12.5%

Month May

534 468 396

-25.8%

+18.2%

2017

2018

2016

September

491

460

-6.3%

October

443

439

-0.9%

November

366

367

+0.3%

December

284

302

+6.3%

January

305

335

+9.8%

February

342

369

+7.9%

March

399

421

+5.5%

April

396

468

+18.2%

12-Month Avg

421

411

-0.7%

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

1-2018

All data from Midwest Real Estate Data LLC. Report Š 2018 ShowingTime. | 13


Lender-Mediated Report – April 2018 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:

2.5%

Closed Sales

4-2017

4-2018

+/–

140

116

-17.1%

REO

6

2

-66.7%

Short Sales

2

1

-50.0%

148

119

-19.6%

4-2017

4-2018

+/–

Traditional

$346,500

$339,000

-2.2%

REO

$93,450

$232,938

+149.3%

Short Sales

$93,075

$566,000

+508.1%

Total Market*

$325,000

$340,000

+4.6%

Traditional

60%

50%

Total Market*

40%

30%

Median Sales Price

20%

10%

0% 1-2008

1-2009

1-2010

1-2011

1-2012

1-2013

1-2014

1-2015

1-2016

1-2017

1-2018

*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

$800,000 $700,000 $600,000 $500,000 $400,000 $300,000 $200,000 $100,000 $0 1-2008

1-2009

1-2010

1-2011

1-2012

1-2013

1-2014

1-2015

1-2016

1-2017

1-2018

Data current as of May 14, 2018. 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 2018

4-2017 Total

LenderMediated

Share

Forest Park

45

4

Oak Park

301

River Forest

75

4-2018

+/–

4-2017

4-2018

+/–

4-2017

4-2018

+/–

4-2017

4-2018

+/–

Total

LenderMediated

Share

8.9%

275

15

5.5%

$97,500

$98,000

+0.5%

$209,500 $229,000

+9.3%

$106,764 $135,098

+26.5%

$223,478

$229,787

+2.8%

21

7.0%

893

43

4.8%

$196,900 $137,000

-30.4%

$358,500 $349,450

-2.5%

$221,820 $192,937

-13.0%

$380,814

$367,784

-3.4%

1

1.3%

214

11

5.1%

$265,000 $471,594

+78.0%

$490,000 $535,000

+9.2%

$268,109 $496,581

+85.2%

$535,252

$548,532

+2.5%

Lender-Mediated

Traditional Properties

Lender-Mediated

Traditional Properties

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

April 2018 Market Stats  
April 2018 Market Stats