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Coming Back to Earth

By adminOn 11-09-2014
Coming Back to Earth

After flying high last week for the end of October, November sees a soft fluttering back to Earth in Chicago foreclosure sales.  The auction numbers have gone right back to their expected range, selling 73 properties from November 3rd-7th. 

However, there were still some interesting trends during this past week.  For instance, Cook County seems to be back up hovering around the 50 property per week mark; after selling only 43 properties last week while the other counties were having an upsurge, it sold 49 properties this week.  In other surprising news, Dupage dropped from a healthy 15 properties during the week of Oct. 27th-31st, to selling only 7 properties to investors last week!  Another county that suffered a significant blow is Lake County, which fell from 10 properties to only 5 sold.  This halving in sales is especially sad to see in Lake, as it is one of the more dependable sellers on a weekly basis.

We can’t gloss over what’s happening in Will County, either, though.  Now, Will has always been a tumultuous County – often having 5 property swings or more from week to week – but this last week has been extreme even by Will’s standards!  From 20 properties sold at the end of October to a mere 6 properties sold last week is hard to believe.

One consolation for the numbers we’re seeing this week is that the final week for most months tends to experience an uncharacteristic rise.  It is possible that we are just seeing the normal numbers, and when set against the anomaly week of Oct. 27th-31st they don’t seem to measure up.  Whereas if we compare this week’s numbers with those for the majority of October, they are perfectly in line.

 

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