MLS-listed downtown homes and condos renting quickly

View from Harbor Point, Chicago IL

Back in November of 2009, when we began tracking MLS-listed homes and condos for rent in 14 downtown ZIP codes there were 1,927 units available. Available units fell to 745 on June 3, a decrease of 61%, and increased only slightly this week to 753.

Three weeks ago the inventory stood at 786, and it was at 1,056 as recently as April 1.

The modest increase in available rentals during the past week masks the fact that 222 new listings came to and remain on the market. This is an indication that new downtown rental listings are renting very quickly.

You can see all of our data, by date and ZIP code, in this Google Docs spreadsheet.

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