Elgin, IL, February 14, 2010 --(PR.com
)-- Home sales rebounded in the Lincoln Way area of Chicago’s southern suburbs during the second half of 2009 just as they did in the entire metropolitan Chicago real estate market. Sales in the second half of the year were 43 percent higher in Lincoln Way than in the first half, but for the full year, sales slipped to 738 from 799 in 2008, a 7.6 percent decrease. RE/MAX remained the area’s leading brokerage brand.
The Lincoln Way market area includes the communities of Frankfort, Green Garden, Manhattan, Mokena, New Lenox and Wilton Center.
RE/MAX agents accounted for 244, or 33.1 percent, of all residential listings sold in the Lincoln Way area during 2009 making them number one in that category, according to Midwest Real Estate Data, LLC (MRED). RE/MAX agents also led in buyer representation, assisting buyers with 190 transactions, or 25.7 percent.
RE/MAX also retained its leadership in total transactions closed in the Lincoln Way area, representing either the buyer or seller in 434 transactions, or 29.4 percent. The next four firms in the total transaction category are Coldwell Banker (15.9 percent), Century 21 (9.9 percent), Cris Realty (5.6 percent) and Realty Executives (2.6 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.
The metro Chicago real estate market experienced a meaningful rebound in home sales during 2009, especially during the second half of the year. Sales in the last six months of 2009 increased 23 percent compared to the same period a year earlier, and for the full year Chicago-area home sales were up a more modest 1.5 percent.
The top five real estate organizations in the Lincoln Way area during 2009, in terms of attached and detached residential listings sold, were RE/MAX with 244 (33.1 percent), Coldwell Banker with 115 (15.6 percent), Century 21 with 75 (10.2 percent), Cris Realty with 39 (5.3 percent) and Realty Executives with 22 (3 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 the Lincoln Way area in buyer representation, closing 190, or 25.7 percent, of all sales made of listed homes in 2009, topping Coldwell Banker with 119 (16.1 percent), Century 21 with 71 (9.6 percent), Cris Realty with 43 (5.8 percent) and Murphy Real Estate Group and Baird & Warner, both with 19 (2.6 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.
RE/MAX has been the sales leader in the metropolitan Chicago real estate market since 1989 and also is number one across northern Illinois. In 2009, the RE/MAX Northern Illinois real estate network closed more than $6 billion in sales.
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.