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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 REALTORS® RESIDENTIAL REAL ESTATE ACTIVITY ONLY

November 2017 The facts of residential real estate have remained consistent in 2017. In yearover-year comparisons, the number of homes for sale has been fewer in most locales, and homes have been selling in fewer days for higher prices. This hasn't always been true, but it has been a common enough storyline to make it an overarching trend for the year. New Listings in the Oak Park region increased 19.6 percent to 122. Listings Under Contract were up 4.9 percent to 85. Inventory levels fell 5.4 percent to 439 units. Prices were a tad soft. The Median Sales Price decreased 19.6 percent to $270,000. Market Times were up 5.4 percent to 82 days. Sellers were encouraged as Months Supply of Inventory was down 5.4 percent to 3.5 months. New tax legislation could have ramifications on housing. The White House believes that the tax reform bill will have a small impact on home prices, lowering them by less than 4 percent, and could conceivably boost homeownership. The National Association of REALTORS® has stated that eliminating the mortgage interest deduction could hurt housing, as the doubled standard deduction would reduce the desire to take out a mortgage and itemize the interest associated with it, thus reducing demand. This is a developing story.

Quick Facts - 4.2%

- 19.6%

- 5.4%

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 December 14, 2017. All data from Midwest Real Estate Data. Report © 2017 ShowingTime.


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

Key Metrics

Historical Sparklines

New Listings 11-2014

11-2015

11-2016

11-2015

11-2016

(Contingent and Pending) 11-2015

11-2016

11-2015

11-2016

11-2015

11-2016

11-2015

11-2016

11-2015

11-2016

11-2015

11-2016

11-2015

11-2016

2,421

2,564

+ 5.9%

95

91

- 4.2%

1,423

1,427

+ 0.3%

81

85

+ 4.9%

1,462

1,452

- 0.7%

$336,000

$270,000

- 19.6%

$304,000

$313,000

+ 3.0%

$358,658

$321,763

- 10.3%

$357,375

$361,719

+ 1.2%

$373,342

$405,270

+ 8.6%

$436,108

$443,082

+ 1.6%

94.6%

95.4%

+ 0.9%

94.2%

95.4%

+ 1.3%

103

129

+ 25.2%

114

112

- 1.8%

78

82

+ 5.4%

89

75

- 15.3%

3.7

3.5

- 5.4%

--

--

--

464

439

- 5.4%

--

--

--

11-2017

Market Time 11-2014

+ 19.6%

11-2017

Housing Affordability Index 11-2014

122

11-2017

Percent of Original List Price Received 11-2014

102

11-2017

Average List Price 11-2014

+/–

11-2017

Average Sales Price 11-2014

YTD 2016 YTD 2017

11-2017

Median Sales Price 11-2014

+/–

11-2017

Under Contract 11-2014

11-2017

11-2017

Closed Sales 11-2014

11-2016

11-2017

Months Supply of Homes for Sale 11-2014

11-2015

11-2016

11-2017

11-2014

11-2015

11-2016

11-2017

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.

November

Year To Date 122

118

2,434

102

-13.6%

+19.6%

2016

2017

2015

2015

Prior Year

Current Year

+/–

December

80

70

-12.5%

January

160

171

+6.9%

February

222

253

+14.0%

March

312

310

-0.6%

April

317

241

-24.0%

May

250

316

+26.4%

June

245

276

+12.7%

July

224

238

+6.3%

August

231

213

-7.8%

September

215

236

+9.8%

October

143

188

+31.5%

November

102

122

+19.6%

12-Month Avg

208

220

+5.3%

Month

2,421

2,564

-0.5%

+5.9%

2016

2017

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

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.

November

Year To Date 95

91

1,423

81

1,427

1,233

+17.3%

-4.2%

2016

2017

2015

2015

Prior Year

Current Year

+/–

December

105

91

-13.3%

January

70

84

+20.0%

February

77

76

-1.3%

March

94

100

+6.4%

April

138

159

+15.2%

May

179

167

-6.7%

June

213

213

0.0%

July

167

149

-10.8%

August

153

173

+13.1%

September

139

118

-15.1%

October

98

97

-1.0%

November

95

91

-4.2%

12-Month Avg

127

127

+0.2%

Month

+15.4%

+0.3%

2016

2017

Historical Closed Sales Activity 240 220 200 180 160 140 120 100 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.

November

Year To Date 85

81

80

1,462

1,452

2015

+4.9%

2016

2017

2015

Current Year

+/–

62

72

+16.1%

January

95

87

-8.4%

February

134

139

+3.7%

March

185

187

+1.1%

April

181

176

-2.8%

May

176

171

-2.8%

June

180

160

-11.1%

July

101

130

+28.7%

August

132

127

-3.8%

September

105

90

-14.3%

October

92

100

+8.7%

November

81

85

+4.9%

12-Month Avg

127

127

0.0%

December

1,307

+1.3%

Prior Year

Month

+11.9%

-0.7%

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. Report Š 2017 ShowingTime. | 5


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

November

Year To Date $336,000

$282,000

2015

$281,000

$304,000

$313,000

$270,000

+19.1%

-19.6%

2016

2017

2015

Prior Year

Current Year

+/–

December

$262,000

$343,500

+31.1%

January

$325,750

$262,000

-19.6%

February

$240,000

$262,250

+9.3%

March

$262,500

$276,000

+5.1%

April

$283,500

$325,000

+14.6%

May

$336,950

$325,000

-3.5%

June

$350,000

$335,000

-4.3%

July

$330,000

$309,000

-6.4%

August

$312,500

$325,000

+4.0%

September

$290,000

$309,000

+6.6%

October

$261,625

$267,000

+2.1%

November

$336,000

$270,000

-19.6%

12-Month Med

$300,000

$315,000

+5.0%

Month

+8.2%

+3.0%

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.

November $344,723

2015

Year To Date $358,658

$334,295

$321,763

+ 4.0%

- 10.3%

2016

2017

2015

Prior Year

Current Year

+/–

December

$324,736

$380,190

+17.1%

January

$380,765

$323,727

-15.0%

February

$293,276

$298,718

+1.9%

March

$317,939

$369,003

+16.1%

April

$321,429

$376,452

+17.1%

May

$386,077

$376,747

-2.4%

June

$392,935

$372,617

-5.2%

July

$376,286

$361,411

-4.0%

August

$356,152

$391,519

+9.9%

September

$362,941

$359,121

-1.1%

October

$310,497

$347,815

+12.0%

November

$358,658

$321,763

-10.3%

12-Month Avg

$355,160

$362,838

+2.2%

Month

$357,375

$361,719

+ 6.9%

+ 1.2%

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.

November

Year To Date $405,270

$350,806

2015

$373,342

$403,709

+ 6.4%

+ 8.6%

2016

2017

2015

Prior Year

Current Year

+/–

December

$368,896

$349,206

-5.3%

January

$403,596

$447,750

+10.9%

February

$464,148

$491,027

+5.8%

March

$442,048

$471,333

+6.6%

April

$424,188

$409,493

-3.5%

May

$419,988

$438,994

+4.5%

June

$441,759

$492,625

+11.5%

July

$440,765

$423,226

-4.0%

August

$462,023

$397,104

-14.1%

September

$479,902

$400,217

-16.6%

October

$385,570

$463,500

+20.2%

November

$373,342

$405,270

+8.6%

12-Month Avg

$433,950

$440,642

+1.5%

1-2015

1-2016

Month

$436,108

$443,082

+ 8.0%

+ 1.6%

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

1-2017

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.

November

92.1%

Year To Date

95.4%

94.6%

2015

+2.6%

+0.9%

2016

2017

93.2%

2015

94.2%

95.4%

+1.1%

+1.3%

2016

2017

Month

Prior Year

Current Year

+/–

December

93.2%

93.1%

-0.1%

January

91.5%

91.1%

-0.5%

February

88.5%

93.8%

+6.0%

March

92.6%

95.2%

+2.8%

April

94.5%

95.5%

+1.1%

May

95.6%

96.2%

+0.6%

June

95.6%

96.3%

+0.7%

July

96.2%

96.3%

+0.0%

August

93.5%

96.2%

+2.9%

September

94.1%

95.7%

+1.6%

October

93.7%

94.5%

+0.9%

November

94.6%

95.4%

+0.9%

12-Month Avg

94.1%

95.3%

+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. 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.

November

Year To Date 129

122

123

114

112

103

-15.6%

+25.2%

2016

2017

2015

2015

Prior Year

Current Year

+/–

December

132

97

-26.5%

January

106

126

+18.9%

February

148

130

-12.2%

March

135

123

-8.9%

April

125

107

-14.4%

May

105

107

+1.9%

June

103

104

+1.0%

July

109

113

+3.7%

August

115

107

-7.0%

September

124

113

-8.9%

October

139

131

-5.8%

November

103

129

+25.2%

12-Month Avg

120

116

-2.7%

Month

-7.3%

-1.8%

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.

November

Year To Date

88

82

78

89 75

-11.6%

+5.4%

2016

2017

2015

90

2015

Prior Year

Current Year

+/–

December

97

112

+15.7%

January

108

98

-9.6%

February

135

109

-19.5%

March

136

98

-28.1%

April

87

95

+8.9%

May

83

70

-15.7%

June

68

50

-26.9%

July

75

53

-28.9%

August

96

71

-26.1%

September

89

77

-13.6%

October

71

69

-2.4%

November

78

82

+5.4%

12-Month Avg

89

77

-13.4%

Month

-1.0%

-15.3%

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. 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.

November

Prior Year

Current Year

+/–

December

4.4

3.0

-32.5%

January

4.3

3.1

-27.3%

February

4.4

3.4

-23.2%

March

4.8

3.8

-19.9%

April

5.2

3.8

-26.7%

May

5.1

4.2

-17.7%

June

4.7

4.3

-8.8%

July

4.8

4.2

-12.4%

August

4.6

4.0

-12.4%

September

4.6

4.4

-4.7%

October

4.3

4.1

-2.6%

November

3.7

3.5

-5.4%

12-Month Avg

4.6

3.8

-16.3%

Month

5.2 3.7

2015

3.5

-30.0%

-5.4%

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.

November

Prior Year

Current Year

+/–

December

500

378

-24.4%

January

494

396

-19.8%

February

521

433

-16.9%

March

575

488

-15.1%

April

636

481

-24.4%

May

628

531

-15.4%

June

598

539

-9.9%

July

606

541

-10.7%

August

583

513

-12.0%

September

588

554

-5.8%

October

540

525

-2.8%

November

464

439

-5.4%

12-Month Avg

561

485

-13.6%

Month

594 464

2015

439

-21.9%

-5.4%

2016

2017

Historical Inventory of Homes for Sale 1,400

1,200

1,000

800

600

400

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 – November 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: 3.3%

Closed Sales

60%

50%

40%

30%

20%

10%

0% 1-2008

1-2009

1-2010

1-2011

1-2012

1-2013

1-2014

1-2015

1-2016

11-2016

11-2017

+/–

Traditional

89

88

-1.1%

REO

4

1

-75.0%

Short Sales

2

2

0.0%

Total Market*

95

91

-4.2%

Median Sales Price

11-2016

11-2017

+/–

Traditional

$350,000

$267,500

-23.6%

REO

$327,500

$525,000

+60.3%

Short Sales

$196,500

$245,000

+24.7%

Total Market*

$336,000

$270,000

-19.6%

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

$450,000 $400,000 $350,000 $300,000 $250,000 $200,000 $150,000 $100,000 $50,000 $0 1-2008

1-2009

1-2010

1-2011

1-2012

1-2013

1-2014

1-2015

1-2016

1-2017

Data current as of December 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…

November 2017

11-2016 Total

LenderMediated

Share

Forest Park

84

2

Oak Park

281

River Forest

74

+/–

11-2017

11-2016

11-2017

+/–

11-2016

11-2017

+/–

11-2016

11-2017

+/–

Total

LenderMediated

Share

2.4%

314

22

7.0%

$105,000

$94,000

-10.5%

$223,900 $245,000

+9.4%

$117,100 $122,137

+4.3%

$227,059

$242,810

+6.9%

14

5.0%

975

46

4.7%

$195,500 $120,500

-38.4%

$360,000 $353,000

-1.9%

$212,042 $180,396

-14.9%

$381,578

$371,412

-2.7%

0

0.0%

229

11

4.8%

$148,000 $290,000

+95.9%

$472,500 $521,000

+10.3%

$248,818 $394,799

+58.7%

$536,874

$549,558

+2.4%

Lender-Mediated

Traditional Properties

Lender-Mediated

Traditional Properties

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

November 2017 Market Stats  
November 2017 Market Stats