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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

September 2017 Every market is unique, yet the national sentiment has given rise to the notion that housing markets are stalling. Although desirous buyers are out on an increasing number of showings, there remains a limited number of desirable listings. And although mortgage rates have remained enticingly low, home prices have reached unaffordable levels for many new entrants into the housing pool at exactly the same time that established owners are proving to be less interested in moving. New Listings in the Oak Park region increased 8.7 percent to 212. Listings Under Contract were down 8.2 percent to 89. Inventory levels fell 10.2 percent to 441 units. Prices continued to gain traction. The Median Sales Price increased 11.1 percent to $322,000. Market Times were down 9.8 percent to 79 days. Sellers were encouraged as Months Supply of Inventory was down 8.1 percent to 3.8 months. Last year at this time, the national storyline was about how high demand was propping up sales and prices despite low inventory and months of supply. That has actually continued to be a familiar refrain for many months in 2017 and now for the past couple of years. But with the likes of Hurricanes Harvey and Irma, different employment outlooks, disparate incomes, varying new construction expectations and potential housing policy shifts, regional differences are becoming more prevalent and pronounced.

Quick Facts - 19.1%

+ 11.1%

- 10.2%

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 October 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 9-2014

9-2015

9-2016

9-2015

9-2016

(Contingent and Pending) 9-2015

9-2016

9-2015

9-2016

9-2015

9-2016

9-2015

9-2016

9-2015

9-2016

9-2015

9-2016

9-2015

9-2016

1,982

2,063

+ 4.1%

131

106

- 19.1%

1,165

1,142

- 2.0%

97

89

- 8.2%

1,218

1,181

- 3.0%

$289,900

$322,000

+ 11.1%

$306,000

$316,000

+ 3.3%

$366,275

$362,387

- 1.1%

$361,668

$365,480

+ 1.1%

$467,882

$401,732

- 14.1%

$433,199

$435,180

+ 0.5%

94.4%

95.1%

+ 0.7%

94.6%

95.4%

+ 0.9%

110

96

- 12.7%

104

98

- 5.8%

87

79

- 9.8%

91

76

- 16.7%

4.1

3.8

- 8.1%

--

--

--

491

441

- 10.2%

--

--

--

9-2017

Market Time 9-2014

+ 8.7%

9-2017

Housing Affordability Index 9-2014

212

9-2017

Percent of Original List Price Received 9-2014

195

9-2017

Average List Price 9-2014

+/–

9-2017

Average Sales Price 9-2014

YTD 2016 YTD 2017

9-2017

Median Sales Price 9-2014

+/–

9-2017

Under Contract 9-2014

9-2017

9-2017

Closed Sales 9-2014

9-2016

9-2017

Months Supply of Homes for Sale 9-2014

9-2015

9-2016

9-2017

9-2014

9-2015

9-2016

9-2017

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.

September

Year To Date

208

212

195

2015

1,914

-6.3%

+8.7%

2016

2017

2015

Prior Year

Current Year

+/–

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%

April

294

225

-23.5%

May

232

294

+26.7%

June

232

256

+10.3%

July

190

222

+16.8%

August

205

194

-5.4%

September

195

212

+8.7%

12-Month Avg

194

194

0.0%

Month

1,982

2,063

+3.6%

+4.1%

2016

2017

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.

September

Year To Date 131 1,165

106

+50.6%

-19.1%

2016

2017

2015

1,142

951

87

2015

Prior Year

Current Year

+/–

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

200

-2.9%

July

165

138

-16.4%

August

140

158

+12.9%

September

131

106

-19.1%

12-Month Avg

120

117

-1.1%

Month

+22.5%

-2.0%

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.

September

Year To Date 1,218

97

89

85

+14.1%

-8.2%

2016

2017

2015

1,181

1,042

2015

Prior Year

Current Year

+/–

October

91

88

-3.3%

November

74

67

-9.5%

December

55

69

+25.5%

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

148

-12.9%

July

96

120

+25.0%

August

120

118

-1.7%

September

97

89

-8.2%

12-Month Avg

120

117

-2.3%

Month

+16.9%

-3.0%

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.

September

Year To Date $322,000

$306,000

$289,900

$316,000

$279,000

$240,000

2015

+20.8%

+11.1%

2016

2017

2015

Prior Year

Current Year

+/–

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

$333,500

+12.7%

September

$289,900

$322,000

+11.1%

12-Month Med

$300,000

$314,000

+4.7%

Month

+9.7%

+3.3%

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.

September

Year To Date $366,275

$362,387

$361,668

$365,480

$333,048 $286,869

2015

+ 27.7%

- 1.1%

2016

2017

2015

Prior Year

Current Year

+/–

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

$375,722

-5.1%

July

$376,082

$359,817

-4.3%

August

$350,813

$389,030

+10.9%

September

$366,275

$362,387

-1.1%

12-Month Avg

$355,200

$362,137

+2.0%

Month

+ 8.6%

+ 1.1%

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.

September

Year To Date $467,882

$429,407

2015

$401,732

+ 9.0%

- 14.1%

2016

2017

$400,242

2015

Prior Year

Current Year

+/–

October

$383,350

$373,231

-2.6%

November

$357,114

$353,971

-0.9%

December

$348,471

$321,713

-7.7%

January

$411,300

$445,230

+8.2%

February

$462,869

$500,756

+8.2%

March

$431,632

$461,957

+7.0%

April

$413,297

$412,184

-0.3%

May

$423,698

$403,479

-4.8%

June

$442,568

$476,845

+7.7%

July

$440,433

$413,270

-6.2%

August

$409,305

$393,653

-3.8%

September

$467,882

$401,732

-14.1%

12-Month Avg

$423,645

$426,364

+0.6%

Month

$433,199

$435,180

+ 8.2%

+ 0.5%

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.

September 90.7%

Year To Date 95.1%

94.4%

93.1%

+4.1%

+0.7%

2016

2017

2015

2015

94.6%

95.4%

+1.6%

+0.9%

2016

2017

Month

Prior Year

Current Year

+/–

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%

96.7%

+1.2%

July

97.6%

96.7%

-1.0%

August

93.2%

95.2%

+2.1%

September

94.4%

95.1%

+0.7%

12-Month Avg

94.3%

95.2%

+0.9%

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.

September

Year To Date 109

126

104

98

110 96

-12.7%

-12.7%

2016

2017

2015

2015

Prior Year

Current Year

+/–

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

101

+4.1%

August

106

93

-12.3%

September

110

96

-12.7%

12-Month Avg

106

101

-3.9%

Month

-4.6%

-5.8%

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.

September

Year To Date 87

97

2015

91 76

87

79

-9.7%

-9.8%

2016

2017

2015

Prior Year

Current Year

+/–

October

90

67

-25.9%

November

101

80

-21.3%

December

97

103

+6.0%

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

-21.7%

July

75

60

-20.0%

August

88

71

-19.7%

September

87

79

-9.8%

12-Month Avg

92

77

-16.2%

Month

+4.5%

-16.7%

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. 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.

September

Prior Year

Current Year

+/–

October

5.4

3.7

-31.7%

November

4.7

3.1

-34.3%

December

3.9

2.4

-39.5%

January

3.8

2.6

-33.2%

February

4.0

2.8

-29.2%

March

4.3

3.3

-22.4%

April

4.7

3.3

-28.5%

May

4.6

3.7

-18.4%

June

4.3

3.9

-9.4%

July

4.2

3.8

-10.1%

August

4.1

3.6

-13.3%

September

4.1

3.8

-8.1%

12-Month Avg

4.3

3.3

-23.3%

Month

5.6 4.1

2015

3.8

-27.3%

-8.1%

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.

September

Prior Year

Current Year

+/–

October

564

443

-21.5%

November

489

366

-25.2%

December

412

285

-30.8%

January

406

305

-24.9%

February

437

341

-22.0%

March

480

398

-17.1%

April

534

394

-26.2%

May

529

440

-16.8%

June

507

448

-11.6%

July

500

450

-10.0%

August

489

420

-14.1%

September

491

441

-10.2%

12-Month Avg

487

394

-19.2%

Month

586 491

2015

441

-16.2%

-10.2%

2016

2017

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 – September 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: 3.8%

Closed Sales

60%

50%

9-2017

+/–

Traditional

116

102

-12.1%

REO

13

3

-76.9%

Short Sales

1

1

0.0%

131

106

-19.1%

9-2016

9-2017

+/–

Traditional

$321,375

$309,000

-3.9%

REO

$121,000

$375,000

+209.9%

Short Sales

$83,999

$115,000

+36.9%

Total Market*

$289,900

$322,000

+11.1%

Total Market*

40%

30%

Median Sales Price

20%

10%

0% 1-2008

9-2016

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 October 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…

September 2017

9-2016 Total

LenderMediated

Share

Forest Park

59

4

Oak Park

285

River Forest

97

+/–

9-2017

9-2016

9-2017

+/–

9-2016

9-2017

+/–

9-2016

9-2017

+/–

Total

LenderMediated

Share

6.8%

261

21

8.0%

$93,750

$86,000

-8.3%

$223,700 $211,750

-5.3%

$107,524 $105,108

-2.2%

$227,917

$224,655

-1.4%

18

6.3%

931

53

5.7%

$177,500 $132,500

-25.4%

$358,000 $354,000

-1.1%

$197,029 $184,824

-6.2%

$381,385

$373,917

-2.0%

3

3.1%

210

12

5.7%

$145,000 $359,650

+148.0%

$475,000 $525,000

+10.5%

$258,845 $392,074

+51.5%

$526,818

$549,455

+4.3%

Traditional Properties

Lender-Mediated

Lender-Mediated

Traditional Properties

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

September 2017 Market Stats  
September 2017 Market Stats