RE/MAX Expands Its Leadership In O’hare Area, Closing Nearly 300 Home Sales Transactions In 2008

RE/MAX Network Again Tops Metro Chicago Real Estate Market

RE/MAX agents increased their leadership position in the O’Hare area residential real estate market during 2008, representing either the buyer or seller in 273 home sale transactions, according to sales data available for the O’Hare area through Midwest Real Estate Data, LLC (MRED). Since 1989, RE/MAX has ranked number one in the metropolitan Chicago real estate market based on residential listings sold.

“In a challenging environment for Illinois real estate sales, RE/MAX agents continue to demonstrate their skills and commitment,” said Jim Merrion, regional director of the RE/MAX Northern Illinois real estate network.

RE/MAX agents listed 161, or 27.2 percent, of all residential properties sold in the O’Hare area during 2008, up from 26.5 percent in 2007. They also led in buyer representation, assisting buyers with 112 transactions, or 18.9 percent.

Home sales reported by MRED in the O’Hare area during 2008 totaled 592, a 25 percent decrease from the 789 homes sold in 2007.

The O’Hare market area includes the communities of Elmwood Park, Franklin Park, Harwood Heights, Leyden Township, Norridge, Northlake, River Grove, Rosemont and Schiller Park.

The top five real estate organizations in the O’Hare area during 2008, in terms of listings sold, were RE/MAX with 161 (27.2 percent), Century 21 with 68 (11.5 percent), Coldwell Banker with 64 (10.8 percent), Sergio & Banks with 37 (6.3 percent) and Realty World and Prudential, both with 19 (3.2 percent). Data maintained by MRED may not reflect all real estate activity in a specific market area.

At the same time, RE/MAX agents led the O’Hare area in buyer representation, closing 18.9 percent of all sales made of listed homes in 2008, topping Century 21 (16.6 percent), Coldwell Banker (7.4 percent), Prudential (3.7 percent) and ERA (3.4. percent). RE/MAX remained the market-share leader in buyer representation across the metropolitan Chicago real estate market during 2008, completing 16.4 percent of all buyer transactions.

The RE/MAX Northern Illinois real estate network closed nearly $8 billion in sales during 2008 and remained Chicagoland’s market-share leader. Its agents listed one of every five residences sold in the metropolitan Chicago real estate market, or 19.7 percent of the total. In the Chicago suburbs, RE/MAX listed 25.7 percent of all homes sold in 2008.