Real estate appraiser Michael Walsh just completed a single family appraisal in the Hermosa community area of Chicago. Hermosa is a community area located on the northwest side of Chicago. Originally called Kelvyn Grove, it was already called Hermosa, meaning "beautiful" in Spanish, when annexed to the city in 1889. The community area contains the neighborhoods of Belmont Gardens, Hermosa and Kelvyn Park.

1. March 2015 real estate market in
the Hermosa community area of Chicago

2. Single Family Housing data taken from
the MRED MLS

3. The market activity for the 30 days included 8 closed sales of
Single Family Housing, 8 went under contract and there were 18
new listings

4. In the last 12 months median sales prices increased +6.2%

5. Marketing Time is down -40.5% to an average of 91 days
on the market

6. Now there is a 5.4 Month Supply of Inventory at the
current level of absorption, this level of inventory is
considered a oversupply.

7. Distressed sales, Bank Owned and Short Sales account
for approximately 36% of total sales

8. Citywide Services performs residential real estate
appraisals in Chicago. Appraisals for divorce, estate,
bankruptcy, tax appeal, bail bonds, and for sale by
owner. Call 312.479.5344 www.appraisercitywide.com