Home sales in the Chicago area fell by nearly a third in November, according to the Illinois Assn. of Realtors.
In the nine-county Chicago region, 3,910 single-family homes and condominiums were sold last month, a decrease of 32.3% compared with 5,774 in November 2007, the Realtors’ group said in a release Tuesday.
In the city of Chicago, sales fell 41.3% in November, to 1,057 compared with 1,801 in November 2007.
The median sale price in the Chicago area was $207,745 in November, a decrease of 15.9% from $247,000 in the same period last year, the Realtors’ group said.
The median price in the city of Chicago was $222,500 in November, a decrease of 23.3% compared with $290,000 in October 2007.
The median is the price where half the homes sold for more and half sold for less.
Chicago-area home sales are down 26.5% from January through November compared with the same period in 2007.
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