New figures released by the Illinois Association of Realtors continue to show a discrepancy between city and suburban home sales.
Area-wide, home sales were down 29% for the month of March. In the nine-county Chicago Primary Metropolitan Statistical Area, home and condominium sales in March totaled 5,753, compared with 8,101 in March 2007, the association said Tuesday in a news release.
However, totals from the city were more forgiving. Sales fell only 11.5% in March in the city of Chicago, to 2,045 from 2,311.
The degree to which the prolonged winter weather effected these totals can't be accurately counted but should not be ignored either.
On the bright side, for those home that are selling, the median sales price is actually rising. The median sale price in the Chicago area rose to $248,000 in March, up 1.2% compared with March 2007. The median price in the city rose 5.3% to $300,000.
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