Chicago home sale went down 16% in September, while sales in the nine-county area fell at a much slower rate, according to a report released Friday by the Illinois Assn. of Realtors.
In the city, a total of just 1,770 single-family homes and condominiums were sold in September, compared with 2,108 during the same month a year ago.
In the entire Chicago area, sales last month dropped 6.2%, to 6,371 homes, compared with September 2007.
Meanwhile, the median sale price for Chicago-area homes in September was $224,000, down 13% from $257,500 during the same month a year ago.
Interest rates were little changed from a year ago. The area’s average rate for a 30-year, fixed-rate mortgage was 6.05%, compared with 6.41% during the year-ago month.
Statewide, home sales dropped 8.7% to 9,686 homes. But sales actually rose in 33 of the state’s 101 counties, including Kane (4.7%) and Kendall (5.1%).
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