Chicago's South Shore has always had a lot of condos/townhomes with 2 - 3 bedrooms on the market and a fairly low level of sales. This has resulted in very large and volatile months of supply of homes but you can see how in early 2010 it reached the lowest levels in the last 4 years. Sales surged to record levels and combined with an extraordinarily low level of units on the market the months of supply hit respectable levels - occasionally. Recent months have shown a substantial improvement in South Shore and October is at an all time low for any month since we've been tracking condo inventories there.
As shown in the chart below, condo market times in South Shore have been on a clear upward trend for the past couple of years.