My last post showed that the median price of a home sold in Chicago fell for the first time since this cycle began. The number of homes sold has been falling from a frothy peak in 2006 and 2007, and that trend has continued in 2009.
There were 22 percent fewer homes sold in Chicago in the first half of 2009, compared with the first half of 2008. New condominium sales fell 75 percent to just 411 sales. Existing condominium sales fell by 34 percent; they are now at the same levels as the first half of 2003:
I also put together a chart comparing the mid-year and annual sale prices citywide since 2002; that one is on the Lakeshore Analytics blog here.
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