Strong 2nd Half Gains Mark Home Sales Activity in Lake County, Ill., and Metro Chicago Real Estate Market; RE/MAX Continues as County's Home Sales Leader
Elgin, IL, February 13, 2010 --(PR.com)-- A strong increase in home sales activity in the second half of 2009 was noticeable in both Lake County, Ill., and the entire metropolitan Chicago real estate market. Metro-area home sales were 23 percent higher than the comparable 2008 period, while in Lake County sales were up 18 percent on the same basis, and RE/MAX retained the number one sales ranking among brokerage organizations.
For all of 2009, home sales in that county increased slightly, rising to 6,013 from 6,000 in 2008. In the seven-county metro market, sales climbed 1.5 percent, with 68,958 homes changing hands.
RE/MAX agents accounted for 1,520, or 25.3 percent, of all Lake County residential listings sold in 2009, making them number one in that category, according to data supplied by Midwest Real Estate Data, LLC (MRED). RE/MAX agents also led in buyer representation, assisting buyers with 1,421 transactions, or 23.6 percent.
RE/MAX also retained leadership in total transactions closed in Lake County, representing either the buyer or seller in a total of 2,941 transactions, or 24.5 percent. The next four firms in the total transaction category are Coldwell Banker (13.7 percent), Century 21 (11.3 percent), Baird & Warner (9 percent) and Prudential (5.5 percent).
Since 1989, RE/MAX has led the metropolitan Chicago residential real estate market based on closed sales volume. In 2009, RE/MAX agents listed 18.9 percent of all homes sold in the seven-county Chicago real estate market, a larger percentage than any other real estate organization.
“Both Lake County and the metro Chicago real estate market experienced a meaningful rebound in home sales during the second half of 2009,” said Jim Merrion, regional director of the RE/MAX Northern Illinois real estate network. “The ability of our agents to work successfully in the distressed properties segment has been the key to maintaining our leadership as the market accelerated.”
The top five real estate organizations in Lake County during 2009, in terms of attached and detached residential listings sold, were RE/MAX with 1,520 (25.3 percent), Coldwell Banker with 896 (14.9 percent), Century 21 with 655 (10.9 percent), Baird & Warner with 548 (9.1 percent) and GMAC with 325 (5.4 percent). Data maintained by MRED may not reflect all real estate activity in a specific market area.
For the same time period, RE/MAX agents led Lake County in buyer representation, closing 1,421 (23.6 percent) of all sales made of listed homes in 2009, topping Coldwell Banker with 748 (12.4 percent), Century 21 with 707 (11.8 percent), Baird & Warner with 538 (8.9 percent) and Prudential with 342 (5.7 percent). RE/MAX remained the market-share leader in buyer representation across the metropolitan Chicago real estate market during 2009, completing 16.4 percent of all buyer transactions.
In 2009, the RE/MAX Northern Illinois real estate network closed more than $6 billion in sales. It has been the sales leader in the metropolitan Chicago real estate market since 1989 and also is number one across northern Illinois.
The RE/MAX Northern Illinois network consists of 2,500 associates and 121 individually owned and operated RE/MAX offices that provide residential, relocation and commercial real estate services throughout the northern one-third of Illinois. The network’s Web sites, www.illinoisproperty.com and www.remax.com, are two of the most popular real estate Web sites in northern Illinois and nationwide, respectively, according to Compete.com, Comscore and Hitwise, which are online intelligence services.
RE/MAX Northern Illinois is part of RE/MAX International, a global real estate organization with 6,500 independently owned offices and 93,000 member sales associates in 78 nations.
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For all of 2009, home sales in that county increased slightly, rising to 6,013 from 6,000 in 2008. In the seven-county metro market, sales climbed 1.5 percent, with 68,958 homes changing hands.
RE/MAX agents accounted for 1,520, or 25.3 percent, of all Lake County residential listings sold in 2009, making them number one in that category, according to data supplied by Midwest Real Estate Data, LLC (MRED). RE/MAX agents also led in buyer representation, assisting buyers with 1,421 transactions, or 23.6 percent.
RE/MAX also retained leadership in total transactions closed in Lake County, representing either the buyer or seller in a total of 2,941 transactions, or 24.5 percent. The next four firms in the total transaction category are Coldwell Banker (13.7 percent), Century 21 (11.3 percent), Baird & Warner (9 percent) and Prudential (5.5 percent).
Since 1989, RE/MAX has led the metropolitan Chicago residential real estate market based on closed sales volume. In 2009, RE/MAX agents listed 18.9 percent of all homes sold in the seven-county Chicago real estate market, a larger percentage than any other real estate organization.
“Both Lake County and the metro Chicago real estate market experienced a meaningful rebound in home sales during the second half of 2009,” said Jim Merrion, regional director of the RE/MAX Northern Illinois real estate network. “The ability of our agents to work successfully in the distressed properties segment has been the key to maintaining our leadership as the market accelerated.”
The top five real estate organizations in Lake County during 2009, in terms of attached and detached residential listings sold, were RE/MAX with 1,520 (25.3 percent), Coldwell Banker with 896 (14.9 percent), Century 21 with 655 (10.9 percent), Baird & Warner with 548 (9.1 percent) and GMAC with 325 (5.4 percent). Data maintained by MRED may not reflect all real estate activity in a specific market area.
For the same time period, RE/MAX agents led Lake County in buyer representation, closing 1,421 (23.6 percent) of all sales made of listed homes in 2009, topping Coldwell Banker with 748 (12.4 percent), Century 21 with 707 (11.8 percent), Baird & Warner with 538 (8.9 percent) and Prudential with 342 (5.7 percent). RE/MAX remained the market-share leader in buyer representation across the metropolitan Chicago real estate market during 2009, completing 16.4 percent of all buyer transactions.
In 2009, the RE/MAX Northern Illinois real estate network closed more than $6 billion in sales. It has been the sales leader in the metropolitan Chicago real estate market since 1989 and also is number one across northern Illinois.
The RE/MAX Northern Illinois network consists of 2,500 associates and 121 individually owned and operated RE/MAX offices that provide residential, relocation and commercial real estate services throughout the northern one-third of Illinois. The network’s Web sites, www.illinoisproperty.com and www.remax.com, are two of the most popular real estate Web sites in northern Illinois and nationwide, respectively, according to Compete.com, Comscore and Hitwise, which are online intelligence services.
RE/MAX Northern Illinois is part of RE/MAX International, a global real estate organization with 6,500 independently owned offices and 93,000 member sales associates in 78 nations.
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Jim Nathan
773-588-0777
www.illinoisproperty.com
773-588-0777
www.illinoisproperty.com
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