Chicago Neighborhoods > Near North Side Housing Market

In the Near North Side the inventory of 2- 3 bedroom condos got really high during the fall and winter of 2008, and by November of 2008 months supply of home inventory exceeded 3 years as a result of plunging sales. It has recovered quite a bit since, with February about half of last year's home inventory level as a result of slightly lower absolute inventory levels but much higher sales levels.

Meanwhile, while market times were relatively flat during 2008, they declined significantly during 2009. They are now down to 215 days from a peak above 375 days.

Note that the MLS changed their reporting methodology for market times in October 2007.