Market times declining in West Loop, though higher than city overall

Attached homes in the West Loop have been staying on the market longer than their citywide counterparts, according to Multiple Listing Service of Northern Illinois stats compiled by Property Consultants agent Patrick Hawkins.

From January through May 2007, the average market time in the West Loop was 207 days, compared to 135 days citywide.

That disparity shrank slightly from the same period in 2006, when the average market time was 311 days in the West Loop and 119 days citywide.

Those figures indicate that citywide market times shot up 13 percent. West Loop market times, by contrast, dropped 33 percent.

A few other comparisons from 2006 to 2007 (January through May):

Median prices for attached units in the city increased by 3.8 percent (from $294,000 to $305,294). In the West Loop they rose by 8.8 percent (from $308,000 to $335,000).

The number of attached units sold in the city decreased by 9.3 percent (from 5,911 to 5,356), while the number in the West Loop decreased by 23 percent (511 to 396).

(Visited 51 times, 1 visits today)