Altos Research has released its April 2011 Real Time Housing Market Update, showing an increase in housing inventory for the spring selling season.
In hopes of making a sale this spring, homesellers have been active in getting their properties on the market. March’s national housing supply offered 272,805 homes, up 2.97 percent from the 264,938 home available in February of this year. The Chicago market shows an inventory of 52,279 homes in March, down from 50,490 homes in February, a 3.54 percent decrease.
Altos’ report shows the 10-city market composite value at $432,307, down 0.29 percent from the month previous. Despite the minor decline in prices, a weekly improvement was posted in 11 of 27 of Altos Research’s monitored markets.
The Chicago average price in March is reported at $277,234, compared to $278,112 in February of this year, a 0.32 percent decrease.