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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

August 2017 August tends to mark the waning of housing activity ahead of the school year. Not all buyers and sellers have children, but there are enough parents that do not want to uproot their children during the school year to historically create a natural market cooldown before any actual temperature change. Competition is expected to remain fierce for available listings. Savvy sellers and buyers know that deals can be made well into the school months, as household formations take on many shapes and sizes. New Listings in the Oak Park region decreased 5.9 percent to 193. Listings Under Contract were up 0.8 percent to 122. Inventory levels fell 15.6 percent to 412 units. Prices continued to gain traction. The Median Sales Price increased 15.5 percent to $342,000. Market Times were down 19.7 percent to 71 days. Sellers were encouraged as Months Supply of Inventory was down 15.0 percent to 3.5 months. The prevailing trends lasted through summer. This was expected, since there have not been any major changes in the economy that would affect housing. Factors such as wage growth, unemployment and mortgage rates have all been stable. Every locality has its unique challenges, but the whole of residential real estate is in good shape. Recent manufacturing data is showing demand for housing construction materials and supplies, which may help lift the ongoing low inventory situation in 2018.

Quick Facts + 12.1%

+ 15.5%

- 15.6%

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 September 14, 2017. All data from Midwest Real Estate Data. Report Š 2017 ShowingTime.


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

Key Metrics

Historical Sparklines

New Listings 8-2014

8-2015

8-2016

8-2015

8-2016

(Contingent and Pending) 8-2015

8-2016

8-2015

8-2016

8-2015

8-2016

8-2015

8-2016

8-2015

8-2016

8-2015

8-2016

8-2015

8-2016

1,787

1,850

+ 3.5%

140

157

+ 12.1%

1,034

1,034

0.0%

121

122

+ 0.8%

1,122

1,096

- 2.3%

$296,000

$342,000

+ 15.5%

$310,000

$317,500

+ 2.4%

$350,813

$390,705

+ 11.4%

$361,084

$366,164

+ 1.4%

$410,037

$398,677

- 2.8%

$429,508

$439,968

+ 2.4%

93.2%

95.2%

+ 2.2%

94.6%

95.5%

+ 1.0%

106

90

- 15.1%

101

98

- 3.0%

88

71

- 19.7%

92

76

- 17.3%

4.1

3.5

- 15.0%

--

--

--

488

412

- 15.6%

--

--

--

8-2017

Market Time 8-2014

- 5.9%

8-2017

Housing Affordability Index 8-2014

193

8-2017

Percent of Original List Price Received 8-2014

205

8-2017

Average List Price 8-2014

+/–

8-2017

Average Sales Price 8-2014

YTD 2016 YTD 2017

8-2017

Median Sales Price 8-2014

+/–

8-2017

Under Contract 8-2014

8-2017

8-2017

Closed Sales 8-2014

8-2016

8-2017

Months Supply of Homes for Sale 8-2014

8-2015

8-2016

8-2017

8-2014

8-2015

8-2016

8-2017

Inventory of Homes for Sale

All data from Midwest Real Estate Data LLC. Report © 2017 ShowingTime. | 2


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

August

Year To Date 205

203

+1.0%

-5.9%

2016

2017

2015

1,706

193

2015

Prior Year

Current Year

+/–

September

208

195

-6.3%

October

167

126

-24.6%

November

99

76

-23.2%

December

74

57

-23.0%

January

141

157

+11.3%

February

209

227

+8.6%

March

284

276

-2.8%

Month

1,787

1,850

+4.7%

+3.5%

2016

2017

April

294

225

-23.5%

May

232

294

+26.7%

June

232

256

+10.3%

July

190

222

+16.8%

August

205

193

-5.9%

12-Month Avg

195

192

-1.3%

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. Report Š 2017 ShowingTime. | 3


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

August

Year To Date 157

1,034

140

138

+12.1%

2016

2017

2015

1,034

864

+1.4%

2015

Prior Year

Current Year

+/–

September

87

131

+50.6%

October

108

94

-13.0%

November

74

86

+16.2%

December

95

80

-15.8%

January

64

78

+21.9%

February

67

63

-6.0%

March

91

94

+3.3%

April

131

148

+13.0%

May

170

157

-7.6%

June

206

199

-3.4%

July

165

138

-16.4%

August

140

157

+12.1%

12-Month Avg

117

119

+4.6%

Month

+19.7%

0.0%

2016

2017

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. Report Š 2017 ShowingTime. | 4


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

August

Year To Date 1,122

122

121

1,096

957

107

+13.1%

+0.8%

2016

2017

2015

2015

Prior Year

Current Year

+/–

September

85

97

+14.1%

October

91

88

-3.3%

November

74

67

-9.5%

December

55

69

+25.5%

Month

+17.2%

-2.3%

2016

2017

January

88

81

-8.0%

February

128

131

+2.3%

March

177

167

-5.6%

April

173

164

-5.2%

May

169

163

-3.6%

June

170

149

-12.4%

July

96

119

+24.0%

August

121

122

+0.8%

12-Month Avg

119

118

-0.7%

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

All data from Midwest Real Estate Data LLC. Report Š 2017 ShowingTime. | 5


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

August

Year To Date $310,000

$342,000

$317,500

$283,000

$296,000 $254,450

2015

+16.3%

+15.5%

2016

2017

2015

Prior Year

Current Year

+/–

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

$268,500

-21.8%

February

$240,000

$264,500

+10.2%

March

$260,000

$297,500

+14.4%

April

$283,500

$325,000

+14.6%

May

$334,200

$321,000

-3.9%

June

$364,450

$335,000

-8.1%

July

$325,000

$307,000

-5.5%

August

$296,000

$342,000

+15.5%

12-Month Med

$296,000

$311,000

+5.1%

Month

+9.5%

+2.4%

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. Report Š 2017 ShowingTime. | 6


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

August

Year To Date $361,084

$390,705

$366,164

$337,698

$350,813 $319,583

2015

+ 9.8%

+ 11.4%

2016

2017

2015

Prior Year

Current Year

+/–

September

$286,869

$366,275

+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

$327,466

-16.9%

February

$298,690

$290,206

-2.8%

March

$313,723

$375,100

+19.6%

April

$322,407

$370,689

+15.0%

May

$380,425

$374,219

-1.6%

June

$395,719

$376,479

-4.9%

July

$376,082

$359,817

-4.3%

August

$350,813

$390,705

+11.4%

12-Month Avg

$349,910

$362,761

+3.7%

Month

+ 6.9%

+ 1.4%

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. Report Š 2017 ShowingTime. | 7


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

August

Year To Date $410,037

$398,677

$376,550

2015

$429,508

$439,968

$396,682

+ 8.9%

- 2.8%

2016

2017

2015

Prior Year

Current Year

+/–

September

$429,407

$467,882

+9.0%

October

$383,350

$373,627

-2.5%

November

$357,114

$353,971

-0.9%

December

$348,471

$321,713

-7.7%

January

$411,300

$445,434

+8.3%

February

$462,869

$500,756

+8.2%

March

$431,632

$461,368

+6.9%

April

$413,297

$412,255

-0.3%

May

$423,698

$404,350

-4.6%

June

$442,568

$477,923

+8.0%

July

$440,433

$414,736

-5.8%

August

$410,037

$398,677

-2.8%

12-Month Avg

$420,541

$432,916

+2.9%

Month

+ 8.3%

+ 2.4%

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. Report Š 2017 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.

August 93.2%

Year To Date 95.2%

93.2%

93.3%

+0.0%

+2.2%

2016

2017

2015

2015

94.6%

95.5%

+1.3%

+1.0%

2016

2017

Month

Prior Year

Current Year

+/–

September

90.7%

94.4%

+4.1%

October

92.9%

93.8%

+1.0%

November

92.4%

94.5%

+2.3%

December

93.7%

93.3%

-0.4%

January

91.9%

91.1%

-0.9%

February

89.8%

93.8%

+4.5%

March

92.4%

95.2%

+3.0%

April

94.6%

95.3%

+0.7%

May

95.7%

96.4%

+0.8%

June

95.5%

96.6%

+1.2%

July

97.6%

96.7%

-1.0%

August

93.2%

95.2%

+2.2%

12-Month Avg

94.0%

95.1%

+1.1%

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. Report © 2017 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.

August

Year To Date 106

118

101

98

106 90

-10.2%

-15.1%

2016

2017

2015

2015

Prior Year

Current Year

+/–

September

126

110

-12.7%

October

113

122

+8.0%

November

107

95

-11.2%

December

110

87

-20.9%

January

89

113

+27.0%

February

129

115

-10.9%

March

119

102

-14.3%

April

110

95

-13.6%

May

94

97

+3.2%

June

86

92

+7.0%

July

97

100

+3.1%

August

106

90

-15.1%

12-Month Avg

107

102

-4.2%

Month

-4.7%

-3.0%

2016

2017

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. Report Š 2017 ShowingTime. | 10


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

August

Year To Date 88

86

+26.1%

-19.7%

2016

2017

2015

76

2015

Current Year

+/–

97

87

-9.7%

October

90

67

-25.9%

November

101

80

-21.3%

December

97

103

+6.0%

September

92

71

70

Prior Year

Month

+6.2%

-17.3%

2016

2017

January

108

92

-14.7%

February

129

104

-19.4%

March

137

93

-31.9%

April

90

97

+7.2%

May

85

64

-23.9%

June

76

60

-21.4%

July

75

60

-20.0%

August

88

71

-19.7%

12-Month Avg

93

78

-15.9%

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. Report Š 2017 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.

August

Prior Year

Current Year

+/–

September

5.6

4.1

-27.5%

October

5.4

3.7

-31.9%

November

4.7

3.1

-34.5%

December

3.9

2.4

-39.7%

January

3.8

2.5

-33.5%

February

4.0

2.8

-29.5%

March

4.3

3.3

-22.7%

April

4.7

3.3

-28.7%

May

4.6

3.7

-18.6%

June

4.3

3.8

-9.9%

July

4.2

3.8

-10.4%

August

4.1

3.5

-15.0%

12-Month Avg

4.5

3.3

-25.3%

Month

5.5 4.1 3.5

2015

-25.6%

-15.0%

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. Report Š 2017 ShowingTime. | 12


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

August

Prior Year

Current Year

+/–

September

586

490

-16.4%

October

564

442

-21.6%

November

489

365

-25.4%

December

412

284

-31.1%

Month

575 488 412

2015

-15.1%

-15.6%

2016

2017

January

406

304

-25.1%

February

437

340

-22.2%

March

480

397

-17.3%

April

534

393

-26.4%

May

529

439

-17.0%

June

507

446

-12.0%

July

500

449

-10.2%

August

488

412

-15.6%

12-Month Avg

494

397

-20.0%

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. Report Š 2017 ShowingTime. | 13


Lender-Mediated Report – August 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: 3.2%

Closed Sales

8-2017

+/–

123

152

+23.6%

REO

9

2

-77.8%

Short Sales

8

3

-62.5%

140

157

+12.1%

8-2016

8-2017

+/–

Traditional

$335,000

$360,000

+7.5%

REO

$111,000

$210,375

+89.5%

Short Sales

$162,500

$91,000

-44.0%

Total Market*

$296,000

$342,000

+15.5%

Traditional

60%

50%

Total Market*

40%

30%

Median Sales Price

20%

10%

0% 1-2008

8-2016

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 September 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…

August 2017

8-2016 Total

LenderMediated

Share

Forest Park

53

2

Oak Park

273

River Forest

86

8-2017

+/–

8-2016

8-2017

+/–

8-2016

8-2017

+/–

8-2016

8-2017

+/–

Total

LenderMediated

Share

3.8%

267

26

9.7%

$93,750

$82,950

-11.5%

$214,625 $229,900

+7.1%

$108,455 $101,321

-6.6%

$222,345

$228,948

+3.0%

17

6.2%

941

62

6.6%

$175,000 $131,250

-25.0%

$357,000 $350,000

-2.0%

$192,826 $180,810

-6.2%

$380,326

$371,650

-2.3%

2

2.3%

217

9

4.1%

$139,900 $344,299

+146.1%

$470,000 $532,500

+13.3%

$243,880 $424,433

+74.0%

$507,004

$564,486

+11.3%

Lender-Mediated

Traditional Properties

Lender-Mediated

Traditional Properties

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

August 2017 Market Stats