It's All About Inventory

A modest 1.0% gain in inventory levels in April 2015  could not keep pace with 12.4% increase in unit sales for Lincoln Park, Lakeview and The Near North Side.

The lack of new inventory produced a 2.6% drop in Months of Supply of Inventory in April 2015 compared to April 2014 and contributed to a 4.2% increase in Median Prices. Results varied by price point, as luxury homes priced over 1,000,000 showed a 25% increase in sales, but dropped 5.8% in Median Price.

 

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