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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

May 2017 Home prices across the U.S. are reaching all-time highs, prompting worry over another boom-and-bust scenario like we experienced roughly ten years ago. Yet, as we glance across the state of residential real estate, what is clear compared to the last extended run of price increases is that lending standards are now much stronger than they were before. Incomes must be verified, a reasonable amount of money must be paid toward the home prior to purchase and a more stringent loan approval process is in place to prevent a repeat performance of the Great Recession. New Listings in the Oak Park region increased 26.7 percent to 294. Listings Under Contract were up 4.1 percent to 176. Inventory levels fell 20.6 percent to 419 units. Prices were a tad soft. The Median Sales Price decreased 3.9 percent to $321,050. Market Times were down 23.7 percent to 65 days. Sellers were encouraged as Months Supply of Inventory was down 23.2 percent to 3.5 months. In addition to a stronger base upon which to conduct real estate transactions, the overall economy is in better shape than it was a decade ago. More jobs are available, unemployment is relatively low and workers have more faith in their wages and the potential for wage increases. Although we continue to battle an inventory shortage in much of the country, optimism remains high for a successful summer for buying and selling homes.

Quick Facts - 8.2%

- 3.9%

- 20.6%

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 June 15, 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 5-2014

5-2015

5-2016

5-2015

5-2016

(Contingent and Pending) 5-2015

5-2016

5-2015

5-2016

5-2015

5-2016

5-2015

5-2016

5-2015

5-2016

5-2015

5-2016

5-2015

5-2016

1,160

1,179

+ 1.6%

170

156

- 8.2%

523

537

+ 2.7%

169

176

+ 4.1%

735

723

- 1.6%

$334,200

$321,050

- 3.9%

$289,000

$311,000

+ 7.6%

$380,425

$375,688

- 1.2%

$345,460

$357,584

+ 3.5%

$423,698

$409,363

- 3.4%

$428,574

$445,528

+ 4.0%

95.7%

96.5%

+ 0.8%

93.6%

94.8%

+ 1.3%

94

96

+ 2.1%

109

100

- 8.3%

85

65

- 23.7%

104

87

- 15.8%

4.6

3.5

- 23.2%

--

--

--

528

419

- 20.6%

--

--

--

5-2017

Market Time 5-2014

+ 26.7%

5-2017

Housing Affordability Index 5-2014

294

5-2017

Percent of Original List Price Received 5-2014

232

5-2017

Average List Price 5-2014

+/–

5-2017

Average Sales Price 5-2014

YTD 2016 YTD 2017

5-2017

Median Sales Price 5-2014

+/–

5-2017

Under Contract 5-2014

5-2017

5-2017

Closed Sales 5-2014

5-2016

5-2017

Months Supply of Homes for Sale 5-2014

5-2015

5-2016

5-2017

5-2014

5-2015

5-2016

5-2017

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.

May

Year To Date 294

1,160

1,179

1,056 237

232

-2.1%

+26.7%

2016

2017

2015

2015

Prior Year

Current Year

+/–

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%

December

74

57

-23.0%

January

141

157

+11.3%

February

209

227

+8.6%

March

284

276

-2.8%

Month

+9.8%

+1.6%

2016

2017

April

294

225

-23.5%

May

232

294

+26.7%

12-Month Avg

197

188

-4.2%

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.

May

Year To Date 170 156

523

537

127 399

+33.9%

-8.2%

2016

2017

2015

2015

Prior Year

Current Year

+/–

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%

March

91

94

+3.3%

April

131

147

+12.2%

May

170

156

-8.2%

12-Month Avg

113

120

+7.3%

Month

+31.1%

+2.7%

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.

May

Year To Date 735

176

169 157

+4.1%

2016

2017

2015

2015

Current Year

+/–

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%

June

723

611

+7.6%

Prior Year

Month

+20.3%

-1.6%

2016

2017

January

88

82

-6.8%

February

128

130

+1.6%

March

177

167

-5.6%

April

173

168

-2.9%

May

169

176

+4.1%

12-Month Avg

116

119

+3.3%

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.

May

Year To Date $311,000 $334,200

$283,000

$321,050

$289,000

$287,500

2015

+16.2%

-3.9%

2016

2017

2015

Prior Year

Current Year

+/–

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%

May

$334,200

$321,050

-3.9%

12-Month Med

$280,000

$312,500

+11.6%

Month

+2.1%

+7.6%

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.

May

Year To Date

$360,497

$380,425

$375,688 $334,352

2015

+ 5.5%

- 1.2%

2016

2017

2015

Prior Year

Current Year

+/–

June

$376,101

$395,780

+5.2%

July

$317,947

$376,082

+18.3%

August

$319,583

$350,813

+9.8%

September

$286,869

$366,275

+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

$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%

May

$380,425

$375,688

-1.2%

12-Month Avg

$336,429

$363,475

+8.0%

Month

$345,460

$357,584

+ 3.3%

+ 3.5%

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.

May

Year To Date $423,698

$409,363

$389,313

2015

$408,758

+ 8.8%

- 3.4%

2016

2017

2015

Prior Year

Current Year

+/–

June

$374,082

$442,568

+18.3%

July

$381,353

$440,433

+15.5%

August

$376,550

$410,037

+8.9%

September

$429,407

$467,980

+9.0%

October

$383,350

$373,707

-2.5%

November

$357,114

$353,971

-0.9%

December

$348,471

$322,134

-7.6%

January

$411,300

$446,598

+8.6%

February

$462,869

$501,393

+8.3%

March

$431,632

$462,731

+7.2%

April

$413,297

$414,651

+0.3%

May

$423,698

$409,363

-3.4%

12-Month Avg

$405,722

$433,283

+6.8%

Month

$428,574

$445,528

+ 4.8%

+ 4.0%

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.

May

Year To Date 92.7%

93.8%

94.8%

96.5%

95.7%

+2.0%

+0.8%

2016

2017

2015

93.6%

2015

+1.0%

+1.3%

2016

2017

Month

Prior Year

Current Year

+/–

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%

+4.1%

October

92.9%

93.8%

+1.0%

November

92.4%

94.5%

+2.3%

December

93.7%

93.3%

-0.4%

January

91.9%

91.0%

-1.0%

February

89.8%

93.8%

+4.4%

March

92.4%

95.2%

+3.0%

April

94.6%

95.3%

+0.7%

May

95.7%

96.5%

+0.8%

12-Month Avg

93.4%

94.9%

+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.

May

Year To Date 109

107

-12.1%

+2.1%

2016

2017

2015

109 100

96

94

2015

Prior Year

Current Year

+/–

June

96

86

-10.4%

July

108

97

-10.2%

August

118

106

-10.2%

September

126

110

-12.7%

October

113

122

+8.0%

November

107

95

-11.2%

December

110

87

-20.9%

January

89

116

+30.3%

February

129

115

-10.9%

Month

0.0%

-8.3%

2016

2017

March

119

102

-14.3%

April

110

95

-13.6%

May

94

96

+2.1%

12-Month Avg

110

102

-6.2%

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.

May

Year To Date 100

100

104 87

85 65

-15.4%

-23.7%

2016

2017

2015

2015

Prior Year

Current Year

+/–

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%

May

85

65

-23.7%

12-Month Avg

92

83

-8.8%

Month

+4.1%

-15.8%

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.

May

Prior Year

Current Year

+/–

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

-30.1%

March

4.3

3.3

-23.2%

April

4.7

3.2

-30.2%

May

4.6

3.5

-23.2%

12-Month Avg

4.8

3.4

-28.9%

Month

5.4 4.6 3.5

2015

-14.8%

-23.2%

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.

May

Prior Year

Current Year

+/–

577

506

-12.3%

July

568

498

-12.3%

August

574

486

-15.3%

September

585

487

-16.8%

Month June

541

528 419

2015

-2.4%

-20.6%

2016

2017

October

563

440

-21.8%

November

488

361

-26.0%

December

411

281

-31.6%

January

405

300

-25.9%

February

436

337

-22.7%

March

479

394

-17.7%

April

533

386

-27.6%

May

528

419

-20.6%

12-Month Avg

512

408

-20.9%

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 – May 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: 4.5%

Closed Sales

60%

50%

5-2017

+/–

Traditional

154

149

-3.2%

REO

12

7

-41.7%

Short Sales

4

0

-100.0%

170

156

-8.2%

5-2016

5-2017

+/–

Traditional

$348,000

$327,000

-6.0%

REO

$243,500

$260,000

+6.8%

Short Sales

$233,100

$0

-100.0%

Total Market*

$334,200

$321,050

-3.9%

Total Market*

40%

30%

Median Sales Price

20%

10%

0% 1-2008

5-2016

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 June 15, 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…

May 2017

5-2016 Total

LenderMediated

Share

Forest Park

55

3

Oak Park

275

River Forest

89

+/–

5-2017

5-2016

5-2017

+/–

5-2016

5-2017

+/–

5-2016

5-2017

+/–

Total

LenderMediated

Share

5.5%

282

36

12.8%

$84,250

$98,500

+16.9%

$204,000 $219,950

+7.8%

$104,568 $109,407

+4.6%

$209,348

$226,317

+8.1%

12

4.4%

933

67

7.2%

$155,000 $172,500

+11.3%

$343,000 $360,000

+5.0%

$180,702 $198,570

+9.9%

$373,866

$381,015

+1.9%

0

0.0%

224

13

5.8%

$180,500 $322,000

+78.4%

$475,000 $520,000

+9.5%

$273,372 $326,573

+19.5%

$503,149

$549,383

+9.2%

Lender-Mediated

Traditional Properties

Lender-Mediated

Traditional Properties

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

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