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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

January 2017 January brings out a rejuvenated crop of buyers with a renewed enthusiasm in a new calendar year. Sales totals may still inevitably start slow in the first half of the year due to ongoing inventory concerns. Continued declines in the number of homes available for sale may push out potential buyers who simply cannot compete for homes selling at higher price points in a low number of days, especially if mortgage rates continue to increase. New Listings in the Oak Park region increased 9.2 percent to 154. Listings Under Contract were down 6.8 percent to 82. Inventory levels fell 27.9 percent to 289 units. Prices were a tad soft. The Median Sales Price decreased 23.7 percent to $262,000. Market Times were down 13.7 percent to 93 days. Sellers were encouraged as Months Supply of Inventory was down 36.1 percent to 2.4 months. In case you missed it, we have a new U.S. president. In his first hour in office, the .25 percentage point rate cut on mortgage insurance premiums for loans backed by the Federal Housing Administration (FHA) was removed, setting the table for what should be an interesting presidential term for real estate policy. FHA loans tend to be a favorable option for those with limited financial resources. On a brighter note, wages are on the uptick for many Americans, while unemployment rates have remained stable and relatively unchanged for several months. The system is ripe for more home purchasing if there are more homes available to sell.

Quick Facts + 20.3%

- 23.7%

- 27.9%

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 February 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 1-2014

1-2015

1-2016

1-2015

1-2016

(Contingent and Pending) 1-2015

1-2016

1-2015

1-2016

1-2015

1-2016

1-2015

1-2016

1-2015

1-2016

1-2015

1-2016

1-2015

1-2016

141

154

+ 9.2%

64

77

+ 20.3%

64

77

+ 20.3%

88

82

- 6.8%

88

82

- 6.8%

$343,500

$262,000

- 23.7%

$343,500

$262,000

- 23.7%

$393,861

$325,874

- 17.3%

$393,861

$325,874

- 17.3%

$411,300

$452,171

+ 9.9%

$411,300

$452,171

+ 9.9%

91.9%

91.0%

- 1.0%

91.9%

91.0%

- 1.0%

88

112

+ 27.3%

88

112

+ 27.3%

108

93

- 13.7%

108

93

- 13.7%

3.8

2.4

- 36.1%

--

--

--

401

289

- 27.9%

--

--

--

1-2017

Market Time 1-2014

+ 9.2%

1-2017

Housing Affordability Index 1-2014

154

1-2017

Percent of Original List Price Received 1-2014

141

1-2017

Average List Price 1-2014

+/–

1-2017

Average Sales Price 1-2014

YTD 2016 YTD 2017

1-2017

Median Sales Price 1-2014

+/–

1-2017

Under Contract 1-2014

1-2017

1-2017

Closed Sales 1-2014

1-2016

1-2017

Months Supply of Homes for Sale 1-2014

1-2015

1-2016

1-2017

1-2014

1-2015

1-2016

1-2017

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.

January

Year To Date 154

144

154 144

141

-2.1%

+9.2%

2016

2017

2015

2015

Prior Year

Current Year

+/–

February

169

207

+22.5%

March

236

282

+19.5%

April

265

296

+11.7%

May

241

229

-5.0%

June

244

233

-4.5%

July

203

190

-6.4%

August

200

204

+2.0%

September

208

197

-5.3%

October

169

128

-24.3%

November

100

75

-25.0%

Month

141

-2.1%

+9.2%

2016

2017

December

75

58

-22.7%

January

141

154

+9.2%

12-Month Avg

188

188

+0.1%

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.

January

Year To Date 77

64

64

42

42

+20.3%

2016

2017

2015

Current Year

+/–

49

67

+36.7%

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%

12-Month Avg

104

120

+16.7%

February

77

+52.4%

Prior Year

Month

2015

+52.4%

+20.3%

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. Powered by ShowingTime 10K. | 4


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

January

Year To Date 88

88

82

82

75

75

+17.3%

-6.8%

2016

2017

2015

2015

Prior Year

Current Year

+/–

February

101

130

+28.7%

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

92

89

-3.3%

November

74

69

-6.8%

December

57

69

+21.1%

January

88

82

-6.8%

12-Month Avg

107

120

+12.8%

Month

+17.3%

-6.8%

2016

2017

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.

January

Year To Date $343,500

$343,500

$262,000

$262,000 $240,000

$240,000

2015

+43.1%

-23.7%

2016

2017

2015

Prior Year

Current Year

+/–

February

$187,000

$240,000

+28.3%

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%

12-Month Med

$280,000

$304,000

+8.6%

Month

+43.1%

-23.7%

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.

January

Year To Date $393,861

$393,861

$325,874

$325,874 $298,899

$298,899

2015

+ 31.8%

- 17.3%

2016

2017

2015

Prior Year

Current Year

+/–

February

$273,600

$298,690

+9.2%

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%

12-Month Avg

$336,189

$355,746

+5.8%

Month

+ 31.8%

- 17.3%

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.

January

Year To Date $452,171

$452,171 $411,300

$411,300 $324,550

$324,550

2015

+ 26.7%

+ 9.9%

2016

2017

2015

Prior Year

Current Year

+/–

February

$453,290

$461,762

+1.9%

March

$461,327

$432,335

-6.3%

April

$395,562

$412,547

+4.3%

May

$392,232

$424,335

+8.2%

June

$373,383

$442,153

+18.4%

July

$381,556

$440,835

+15.5%

August

$379,258

$412,542

+8.8%

September

$423,278

$467,019

+10.3%

October

$389,316

$377,585

-3.0%

November

$350,682

$353,639

+0.8%

December

$351,812

$326,200

-7.3%

January

$411,300

$452,171

+9.9%

12-Month Avg

$400,921

$427,471

+6.6%

Month

+ 26.7%

+ 9.9%

2016

2017

Historical Average List Price $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.

January 87.4%

Year To Date 91.9%

91.0%

+5.2%

-1.0%

2016

2017

2015

87.4%

2015

91.9%

91.0%

+5.2%

-1.0%

2016

2017

Month

Prior Year

Current Year

+/–

February

91.4%

89.8%

-1.8%

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%

12-Month Avg

93.2%

94.4%

+1.2%

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.

January

Year To Date

128

128 112

112

88

88

-31.3%

+27.3%

2016

2017

2015

2015

Prior Year

Current Year

+/–

February

165

129

-21.8%

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%

Month

-31.3%

+27.3%

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%

12-Month Avg

111

105

-4.0%

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.

January

Year To Date 108

108 93

88

2015

93

88

+22.3%

-13.7%

2016

2017

2015

Prior Year

Current Year

+/–

February

107

129

+20.6%

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%

12-Month Avg

90

89

-1.3%

Month

+22.3%

-13.7%

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.

January

Prior Year

Current Year

+/–

February

4.3

3.9

-8.3%

March

4.6

4.2

-8.9%

April

5.3

4.6

-14.2%

May

5.3

4.5

-16.4%

Month

4.1 3.8

2.4

2015

-8.2%

-36.1%

2016

2017

June

5.7

4.2

-26.5%

July

5.5

4.1

-25.4%

August

5.5

4.0

-26.8%

September

5.6

4.0

-28.8%

October

5.4

3.6

-33.1%

November

4.6

2.9

-36.6%

December

3.9

2.3

-41.4%

January

3.8

2.4

-36.1%

12-Month Avg

4.9

3.7

-24.9%

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.

January

Prior Year

Current Year

+/–

February

425

429

+0.9%

March

463

470

+1.5%

April

529

525

-0.8%

May

539

518

-3.9%

June

573

496

-13.4%

July

566

488

-13.8%

August

570

477

-16.3%

September

580

478

-17.6%

October

559

432

-22.7%

November

485

352

-27.4%

Month

401

400

289

2015

+0.2%

-27.9%

2016

2017

December

407

273

-32.9%

January

401

289

-27.9%

12-Month Avg

508

436

-14.5%

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 – January 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: 11.7%

Closed Sales

60%

50%

40%

30%

1-2017

+/–

Traditional

53

68

+28.3%

REO

8

7

-12.5%

Short Sales

3

2

-33.3%

Total Market*

64

77

+20.3%

1-2016

1-2017

+/–

Traditional

$385,000

$336,000

-12.7%

REO

$122,550

$109,900

-10.3%

Short Sales

$189,000

$52,950

-72.0%

Total Market*

$343,500

$262,000

-23.7%

Median Sales Price

20%

10%

0% 1-2008

1-2016

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 February 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…

January 2017

1-2016 Total

LenderMediated

Share

Forest Park

47

4

Oak Park

171

River Forest

71

1-2017

+/–

1-2016

1-2017

+/–

1-2016

1-2017

+/–

1-2016

1-2017

+/–

Total

LenderMediated

Share

8.5%

278

40

14.4%

$77,000

$90,500

+17.5%

$206,000 $212,125

+3.0%

$101,323 $100,373

-0.9%

$209,737

$223,115

+6.4%

14

8.2%

947

90

9.5%

$116,800 $190,975

+63.5%

$348,500 $356,000

+2.2%

$151,004 $210,744

+39.6%

$372,024

$382,850

+2.9%

4

5.6%

213

18

8.5%

$200,250 $167,750

-16.2%

$477,500 $461,000

-3.5%

$313,358 $245,992

-21.5%

$515,379

$527,948

+2.4%

Lender-Mediated

Traditional Properties

Lender-Mediated

Traditional Properties

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

January 2017 Market Stats  
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