Recent S&P-Case-Shiller Home Index brings a mix of bad and good news.

November 2008 Home Price Index shows record price declines in major metropolitan areas. Chicago real estate market seems to be right in the middle of the list with 12.5% price decline over the last 12 months.

January 27, 2009

The 20-city S&P/Case-Shiller Home Price Index is constructed to accurately track the price path of typical single-family home located in each metropolitan area provided. The index combines matched price pairs for thousands of individual houses from the available universe of arms-length sales data. The index is a composite of single-family home price indices for the nine U.S. Census divisions and is calculated quarterly.

This table shows how homes in 20 U.S. metropolitan areas have been selling in October and November 2008. It also displays the 1-year change between November 2007 and November 2008. Click the table for full report in PDF format.

Chicago area real estate market shows average price declines. However, if we look at northwest suburbs, some interesting trends can be observed: October/November price decline in Arlington Heights was 8% (average $415,365 vs. $450,900). In December however, this indicator jumped to $438,000. In Des Plaines, the average sales price of single family house was 4% higher in December than a month before.

For complete information related to homes for sale in Chicago suburbs and Arlington Heights in particularly, please contact us at the numbers below. We provide data on recent home sales in Chicago suburbs, condos for sale in Arlington Heights and Arlington Heights townhouses. Please consult with us before you choose your own home from available hundreds of houses for sale in Arlington Heights.

Town & Country GMAC/Real Estate

123 S. Arlington Heights Road

Arlington Heights, Illinois

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