Home sales in Chicago plunged 16% in September, while sales in the nine-county area fell at a much slower rate, according to a report released Friday by the Illinois Assn. of Realtors.
In the city, a total of just 1,770 single-family homes and condominiums were sold in September, compared with 2,108 during the same month a year ago.
In the entire Chicago area, sales last month dropped 6.2%, to 6,371 homes, compared with September 2007.
Meanwhile, the median sale price for Chicago-area homes in September was $224,000, down 13% from $257,500 during the same month a year ago.