With foreclosure inventory down to 0.5 months, homebuyers in the Rosemont area have begun house hunting in other avenues – short sales and non-distressed homes. Foreclosure sales dropped 67.9% year over year while short sales gained 240% and non-distressed sales 52.6% for the same period. We might be seeing here a slow recovery, especially since non-distressed sales are now almost 50% of all total sales. Unit volume was down 20% year over year.

Average sold price per square foot was $125.39, down 12.3% from a high of $142.93 last July. Average sales price is currently $175,208 down 15.3% from last July’s $206,844. Median sales price sits at $170,500 down 14.6% for the same period. The average home sold in Rosemont was also 3.4% smaller this July than a year ago, so the more accurate statistics here are the average sold price per square foot.

Inventory is at 2.6 months based on the last year of sales and 2.7 months based on the last six months of sales.

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