Chicago, IL (Vocus) March 1, 2010
Home sales in the metropolitan Chicago real estate market rebounded strongly in the second half of 2009 when home sales rose 23 percent. Amid those improving market conditions, RE/MAX sold more listed homes than any other brokerage organization. RE/MAX has held the number one position, based on closed sales volume, in the metro Chicago real estate market for the last 21 years.
RE/MAX agents led the metro area in listings sold, accounting for18.9 percent, nearly one of every five homes sold during 2009. In the suburbs, RE/MAX led with a 23.3 percent market share, listing nearly one of every four homes sold. In the City of Chicago, RE/MAX recorded the largest gain in market share of any of the seven leading residential brokerage organizations, and it ranked third overall.
During the same period, RE/MAX agents led in buyer representation, handling 16.4 percent of transactions, including 20.4 percent in the Chicago suburbs, more than any other real estate company.
These market-share figures were developed from data compiled by Midwest Real Estate Data, LLC (MRED), which also showed that 68,958 residential listings were sold during 2009 in the seven-county metropolitan Chicago real estate market, which includes Cook, DuPage, Kane, Kendall, Lake, McHenry and Will counties. That is 1.5 percent more than the 67,938 homes sold in 2008.
“The pace of sales improved dramatically across our region in 2009, specifically during the second half of the year, and we anticipate a strong first half in 2010. It is still a challenging environment in which to sell real estate, but we have every confidence that our agents will continue to succeed in any type of market, an ability they have repeatedly demonstrated in the past,” said Jim Merrion, regional director of the RE/MAX Northern Illinois real estate network.
RE/MAX agents listed 13,053 (18.9 percent) of the properties sold. Trailing RE/MAX in market share were Coldwell Banker with 9,589 sales (13.9 percent), Century 21 with 3,912 sales (5.7 percent), Prudential with 3,557 sales (5.2 percent), Baird & Warner with 3,482 sales (5 percent), GMAC with 2,139 sales (3.1 percent), @Properties with 2,049 sales (3 percent), Keller Williams with 1,722 sales (2.5 percent), Realty Executives with 1,684 sales (2.4 percent) and Chicago Realty Partners with 923 sales (1.3 percent). Data maintained by MRED may not reflect all real estate activity in the market.
In the metro Chicago real estate market, no one helped more buyers purchase homes than RE/MAX. During 2009, RE/MAX agents led the way with a 16.4 percent market share. Other companies in the top five were Coldwell Banker with 12.3 percent, Century 21 with 7 percent, Baird & Warner with 5.2 percent and Prudential with 5 percent.
According to MRED data, RE/MAX was the market share leader for listings sold in six of the seven counties, and it led all seven counties in buyer representation. RE/MAX also was the market share leader in more than 200 towns and communities across Chicagoland.
- Cook County - Of the 40,582 listed homes sold in Cook County, RE/MAX led with 14.6 percent and was number one in buyer representation with 12.4 percent.
- DuPage County - Of the 7,953 listed homes sold in DuPage County, RE/MAX led with 24.5 percent and was number one in buyer representation with 21.4 percent.
- Elgin Area - Of the 2,629 listed homes sold in the Elgin market area, RE/MAX led with 25.4 percent and was number one in buyer representation with 24.3 percent. The Elgin market includes the communities of Burlington, Carpentersville, East Dundee, Elgin, Genoa, Gilberts, Hampshire, Hanover Park, Lake Marion, Pingree Grove, Plato, Sleepy Hollow, South Elgin, Streamwood and West Dundee.
- Fox Valley - Of the 1,386 listed homes sold in the Fox Valley market, RE/MAX led with 35.4 percent and was number one in buyer representation with 29.4 percent. The Fox Valley market includes the communities of Batavia, Elburn, Geneva, North Aurora, St. Charles, Sugar Grove and Wayne.
- Greater South Suburbs - Of the 4,529 listed homes sold in the Greater South Suburbs market, RE/MAX led with 21.4 percent and was the leader in buyer representation with 17.8 percent. The Greater South Suburbs market includes the communities of Beecher, Burnham, Calumet City, Calumet Park, Chicago Heights, Country Club Hills, Crete, Dolton, East Hazel Crest, Flossmoor, Glenwood, Grant Park, Harvey, Hazel Crest, Homewood, Lansing, Lynwood, Markham, Matteson, Midlothian, Oak Forest, Olympia Fields, Park Forest, Richton Park, Riverdale, Sauk Village, South Chicago Heights, South Holland, Steger, Thornton and University Park.
- Kane County - Of the 4,037 listed homes sold in Kane County, RE/MAX led with 26.9 percent and was number one in buyer representation with 22.9 percent.
- Kendall County – Of the 1,439 listed homes sold in Kendall County, RE/MAX was number one in buyer representation with 21 percent.
- Lake County - Of the 6,013 listed homes sold in Lake County, RE/MAX led with 25.3 percent and was number one in buyer representation with 23.6 percent.
- Lincoln Way – Of the 738 listed homes sold in the Lincoln Way market area, RE/MAX led with 33.1 percent and was number one in buyer representation with 25.7 percent. The Lincoln Way market includes the communities of Frankfort, Green Garden, Manhattan, Mokena, New Lenox and Wilton Center.
- McHenry County - Of the 2,783 listed homes sold in McHenry County, RE/MAX led with 25.1 percent and was number one in buyer representation with 22.7 percent.
- Northwest Suburbs - Of the 6,992 listed homes sold in the Northwest Suburbs market area, RE/MAX led with 25.4 percent and was also the leader in buyer representation at 22.8 percent. The Northwest Suburbs market includes the communities of Arlington Heights, the Barrington area, Buffalo Grove, Des Plaines, Elk Grove Village, Hanover Park, Hoffman Estates, Inverness, Keeneyville, Mt. Prospect, Niles, Palatine, Park Ridge, Prospect Heights, Rolling Meadows, Roselle, Schaumburg, Streamwood and Wheeling.
- O’Hare Suburbs – Of the 855 listed homes sold in the O’Hare Suburbs market area, RE/MAX led with 24.3 percent, while also leading in buyer representation with 16.5 percent. The O’Hare Suburbs market includes the communities of Elmwood Park, Franklin Park, Harwood Heights, Leyden Township, Norridge, Northlake, River Grove, Rosemont and Schiller Park.
- Southwest Suburbs - Of the 3,508 listed homes sold in the Southwest Suburbs market, RE/MAX led with 26.8 percent and was the buyer representation leader with 22.7 percent. The Southwest Suburbs market includes the communities of Alsip, Blue Island, Bridgeview, Burbank, Chicago Ridge, Crestwood, Evergreen Park, Hickory Hills, Hometown, Justice, Lemont, Merrionette Park, Midlothian, Oak Forest, Oak Lawn, Orland Hills, Orland Park, Palos Heights, Palos Hills, Palos Park, Posen, Robbins, Tinley Park and Worth.
- West Towns - Of the 2,064 listed homes sold in the West Towns market area, RE/MAX led with 19.5 percent and was number one in buyer representation at 15.8 percent. The West Towns market includes Berwyn, Broadview, Brookfield, Cicero, Forest Park, Forest View, Lyons, North Riverside, Oak Park, River Forest, Riverside, Stickney and Westchester.
- Will County - Of the 6,151 listed homes that were sold in Will County, RE/MAX led with 26.2 percent, and it was number one in buyer representation with 21.6 percent.
RE/MAX is the leader in northern Illinois real estate sales and has been number one in the metropolitan Chicago real estate market since 1989. In 2009, the RE/MAX network in northern Illinois closed more than $6 billion in sales.