Posted by Jonathan J. Miller -Thursday, March 22, 2007, 12:01 AM
[This monthly market report is provided by Chip Wagner and Robert Headrick of the Headrick-Wagner Appraisal Group in their monthly eNewsletter. I have had the pleasure of knowing them for a large part of my appraisal career. They are both very active in appraisal industry matters having held many leadership positions. Their firm has been covering the Chicagoland market since 1970 and as a result, they both have a wealth of insight. Their focus is on relocation, litigation and lending appraisals as well as slayers of appraisal myths. Chip and Bob author a series of market reports on the Chicagoland real estate market and Chip writes a new column on our sister blog, Soapbox called Chip Shots. ...Jonathan Miller
...some areas seem to be improving, while other areas continue to suffer from extended marketing times and oversupplied inventory levels. It seems as though communities that have strong competition from new construction are the areas that continue to have a difficult time with competition. So the good news is contract pendings have heated up. This is expected at this time of the year. At the same time, actual inventory continues to grow as homes continue to enter the marketplace...
Here are the hard stats for the month in the following reports.