Matteson has seen a sharp drop in demand for single-family homes over the past couple of years. The neighborhood is one of many around the Chicago suburbs to see a drop in activity on the real estate market.
A total of just 31 units were sold during the first quarter in Matteson, according to data from the Chicago Association of Realtors. This is down from 48 units sold during the same period last year, and more than 50 percent lower than the high of 71 units seen during the first quarter 2006.
However, the drop in demand is creating opportunities for buyers looking for a great deal on a single-family home in Matteson. The average sales price slid by 11 percent during the first quarter, and could continue to drop if demand doesn’t pick up in the short term.
If you’re selling your home in the area, you’re facing one of the slowest markets in recent memory. It will now take you an average of 129 days to find a buyer, up from 106 days a year ago. This could mean incredible deals on Chicago Homes For Sale around the neighborhood.
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