RE/MAX Expands Its Leadership Position In Northwest Suburbs In 2008, Closing More Than 3,300 Home Sale Transactions

RE/MAX Network Again Tops Metro Chicago Real Estate Market

RE/MAX agents increased their leadership position in the Northwest Suburbs residential real estate market during 2008, representing either the buyer or seller in 3,329 home sale transactions, according to sales data available for the Northwest Suburbs 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 1,793, or 27.7 percent, of all residential properties sold in the Northwest Suburbs during 2008, up from 27.2 percent in 2007. They also expanded their lead in buyer representation, assisting buyers with 1,536 transactions, or 23.7 percent, compared to 21.2 percent in the prior year.

Home sales reported by MRED in the Northwest Suburbs during 2008 totaled 6,479, a 28.5 percent decrease from the 9,066 homes sold in 2007.

The Northwest Suburbs market area includes the communities of Arlington Heights, Barrington, 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.

The top five real estate organizations in the Northwest Suburbs during 2008, in terms of listings sold, were RE/MAX with 1,793 (27.7 percent), Coldwell Banker with 1,042 (16.1 percent), Century 21 with 578 (8.9 percent), Prudential with 445 (6.9 percent) and Baird & Warner with 414 (6.4 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 Northwest Suburbs in buyer representation, closing 23.7 percent of all sales made of listed homes in 2008, topping Coldwell Banker (11.7 percent), Century 21 (10.2 percent), Baird & Warner (7 percent) and Prudential (6.5 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.