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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

February 2017 The start of the year ushered in a wave of good news about a hot stock market, higher wages and an active home sales environment. At the same time, housing prices have continued to rise, and the low inventory situation and affordability crunch has been particularly hard on first-time buyers struggling to get into the market. Nevertheless, buyer activity is easily outpacing seller activity in much of the country, culminating in relatively quick sales and low supply. Demand definitely remained strong this month. New Listings in the Oak Park region increased 8.1 percent to 226. Listings Under Contract were up 4.7 percent to 134. Inventory levels fell 25.2 percent to 324 units. Prices continued to gain traction. The Median Sales Price increased 10.2 percent to $264,500. Market Times were down 19.4 percent to 104 days. Sellers were encouraged as Months Supply of Inventory was down 32.6 percent to 2.7 months. Unemployment has reached pre-recession levels, and Americans remain optimistic about finding quality employment. This matters because job growth and higher paychecks fuel home purchases. Unfortunately, that won't matter for potential buyers if price appreciation outpaces income growth and if mortgage rates continue their upward trend. Sellers are getting a generous number of offers in this market. The worry for sellers then becomes that there will not be a generous number of homes to choose from when they become buyers.

Quick Facts - 6.0%

+ 10.2%

- 25.2%

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 March 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 2-2014

2-2015

2-2016

2-2015

2-2016

(Contingent and Pending) 2-2015

2-2016

2-2015

2-2016

2-2015

2-2016

2-2015

2-2016

2-2015

2-2016

2-2015

2-2016

2-2015

2-2016

350

383

+ 9.4%

67

63

- 6.0%

131

140

+ 6.9%

128

134

+ 4.7%

216

217

+ 0.5%

$240,000

$264,500

+ 10.2%

$274,900

$263,250

- 4.2%

$298,690

$290,166

- 2.9%

$345,186

$309,806

- 10.2%

$462,869

$508,596

+ 9.9%

$442,182

$484,084

+ 9.5%

89.8%

93.8%

+ 4.4%

90.8%

92.3%

+ 1.6%

129

111

- 14.0%

113

112

- 0.9%

129

104

- 19.4%

118

98

- 17.4%

4.0

2.7

- 32.6%

--

--

--

433

324

- 25.2%

--

--

--

2-2017

Market Time 2-2014

+ 8.1%

2-2017

Housing Affordability Index 2-2014

226

2-2017

Percent of Original List Price Received 2-2014

209

2-2017

Average List Price 2-2014

+/–

2-2017

Average Sales Price 2-2014

YTD 2016 YTD 2017

2-2017

Median Sales Price 2-2014

+/–

2-2017

Under Contract 2-2014

2-2017

2-2017

Closed Sales 2-2014

2-2016

2-2017

Months Supply of Homes for Sale 2-2014

2-2015

2-2016

2-2017

2-2014

2-2015

2-2016

2-2017

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.

February

Year To Date 226 383

209 350 315

170

+22.9%

+8.1%

2016

2017

2015

2015

+11.1%

+9.4%

2016

2017

Month

Prior Year

Current Year

+/–

March

237

284

+19.8%

April

267

294

+10.1%

May

237

232

-2.1%

June

246

232

-5.7%

July

201

189

-6.0%

August

203

205

+1.0%

September

208

194

-6.7%

October

167

126

-24.6%

November

99

76

-23.2%

December

74

57

-23.0%

January

141

157

+11.3%

February

209

226

+8.1%

12-Month Avg

191

189

-0.7%

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.

February

Year To Date 140

67

131

63 49 91

+36.7%

-6.0%

2016

2017

2015

2015

+44.0%

+6.9%

2016

2017

Month

Prior Year

Current Year

+/–

March

79

91

+15.2%

April

102

131

+28.4%

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%

12-Month Avg

106

120

+13.1%

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.

February

Year To Date 216

134

128

217

176 101

+26.7%

+4.7%

2016

2017

2015

2015

+22.7%

+0.5%

2016

2017

Month

Prior Year

Current Year

+/–

March

145

177

+22.1%

April

134

174

+29.9%

May

157

169

+7.6%

June

130

170

+30.8%

July

110

97

-11.8%

August

107

119

+11.2%

September

85

99

+16.5%

October

91

89

-2.2%

November

74

69

-6.8%

December

57

70

+22.8%

January

88

83

-5.7%

February

128

134

+4.7%

12-Month Avg

109

121

+11.0%

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.

February

Year To Date $274,900

$264,500 $240,000

$263,250

$225,000

$187,000

2015

+28.3%

+10.2%

2016

2017

2015

+22.2%

-4.2%

2016

2017

Month

Prior Year

Current Year

+/–

March

$291,000

$260,000

-10.7%

April

$353,500

$283,500

-19.8%

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%

12-Month Med

$280,000

$305,000

+8.9%

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.

February

Year To Date $298,690

$273,600

$345,186

$290,166

$309,806 $285,276

2015

+ 9.2%

- 2.9%

2016

2017

2015

+ 21.0%

- 10.2%

2016

2017

Month

Prior Year

Current Year

+/–

March

$325,836

$313,723

-3.7%

April

$352,177

$322,407

-8.5%

May

$360,497

$380,425

+5.5%

June

$376,101

$395,780

+5.2%

July

$317,947

$376,051

+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%

12-Month Avg

$336,627

$355,531

+5.6%

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.

February

Year To Date $508,596

$454,436

$484,084

$462,869

$442,182 $393,901

2015

+ 1.9%

+ 9.9%

2016

2017

2015

+ 12.3%

+ 9.5%

2016

2017

Month

Prior Year

Current Year

+/–

March

$459,099

$431,597

-6.0%

April

$398,732

$413,297

+3.7%

May

$389,313

$423,720

+8.8%

June

$374,082

$442,568

+18.3%

July

$381,353

$440,571

+15.5%

August

$376,550

$410,060

+8.9%

September

$429,407

$470,022

+9.5%

October

$383,350

$375,933

-1.9%

November

$357,114

$354,828

-0.6%

December

$348,471

$322,502

-7.5%

January

$411,300

$448,573

+9.1%

February

$462,869

$508,596

+9.9%

12-Month Avg

$402,737

$432,058

+7.3%

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.

February 91.4%

Year To Date 93.8%

89.8%

-1.8%

+4.4%

2016

2017

2015

89.6%

2015

90.8%

92.3%

+1.4%

+1.6%

2016

2017

Month

Prior Year

Current Year

+/–

March

92.3%

92.4%

+0.1%

April

94.5%

94.6%

+0.1%

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%

12-Month Avg

93.1%

94.6%

+1.6%

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.

February

Year To Date

165 137 129

113

112

111

-21.8%

-14.0%

2016

2017

2015

2015

-17.5%

-0.9%

2016

2017

Month

Prior Year

Current Year

+/–

March

105

118

+12.4%

April

87

109

+25.3%

May

107

92

-14.0%

June

96

86

-10.4%

July

109

96

-11.9%

August

118

106

-10.2%

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%

12-Month Avg

108

103

-3.3%

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.

February

Year To Date 129 118

107

104 98

2015

+20.6%

-19.4%

2016

2017

2015

98

+20.7%

-17.4%

2016

2017

Month

Prior Year

Current Year

+/–

March

114

137

+20.7%

April

90

90

+0.9%

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%

12-Month Avg

91

88

-4.1%

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.

February 4.3 4.0

2.7

2015

-7.7%

-32.6%

2016

2017

Month

Prior Year

Current Year

+/–

March

4.6

4.3

-8.1%

April

5.4

4.6

-14.2%

May

5.3

4.5

-15.4%

June

5.7

4.2

-25.9%

July

5.5

4.2

-24.6%

August

5.5

4.1

-26.1%

September

5.6

4.0

-28.6%

October

5.4

3.6

-33.1%

November

4.7

3.0

-36.2%

December

3.9

2.3

-41.3%

January

3.8

2.4

-35.7%

February

4.0

2.7

-32.6%

12-Month Avg

4.9

3.7

-26.2%

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.

February 433

427

324

2015

+1.4%

-25.2%

2016

2017

Month

Prior Year

Current Year

+/–

March

466

476

+2.1%

April

534

529

-0.9%

May

540

524

-3.0%

June

576

502

-12.8%

July

567

493

-13.1%

August

573

483

-15.7%

September

584

482

-17.5%

October

562

434

-22.8%

November

487

355

-27.1%

December

408

274

-32.8%

January

402

292

-27.4%

February

433

324

-25.2%

12-Month Avg

511

431

-16.3%

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 – February 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: 12.7%

Closed Sales

60%

50%

40%

30%

2-2017

+/–

Traditional

55

55

0.0%

REO

10

6

-40.0%

Short Sales

2

2

0.0%

Total Market*

67

63

-6.0%

2-2016

2-2017

+/–

Traditional

$274,900

$270,000

-1.8%

REO

$126,250

$188,000

+48.9%

Short Sales

$177,000

$171,750

-3.0%

Total Market*

$240,000

$264,500

+10.2%

Median Sales Price

20%

10%

0% 1-2008

2-2016

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 March 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…

February 2017

2-2016 Total

LenderMediated

Share

Forest Park

51

3

Oak Park

193

River Forest

80

+/–

2-2017

2-2016

2-2017

+/–

2-2016

2-2017

+/–

2-2016

2-2017

+/–

Total

LenderMediated

Share

5.9%

275

41

14.9%

$76,000

$95,000

+25.0%

$205,500 $212,125

+3.2%

$101,678 $104,528

+2.8%

$209,500

$223,898

+6.9%

7

3.6%

945

84

8.9%

$122,500 $194,425

+58.7%

$346,000 $357,000

+3.2%

$151,301 $220,327

+45.6%

$371,466

$381,544

+2.7%

2

2.5%

214

19

8.9%

$200,250 $187,500

-6.4%

$500,000 $455,000

-9.0%

$321,903 $248,308

-22.9%

$520,768

$520,097

-0.1%

Traditional Properties

Lender-Mediated

Lender-Mediated

Traditional Properties

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

February 2017 Market Stats  
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