Sales of single-family homes fell during the first quarter across Chicago, including many areas around the suburbs. Calumet City was one neighborhood that saw a significant drop in demand during the quarter.
According to data from the Chicago Association of Realtors, a total of just 53 single-family homes were sold in the neighborhood during the first quarter, down from 89 homes sold during the same period in 2007. It was a disappointing result for the neighborhood that had seen sales rebound in 2007.
The drop in demand for single-family homes around Calumet City was felt by many homeowners who had to drop their asking price. The average sales price for homes sold during the first quarter posted a 23 percent decline from the same period in 2007, and could continue to drop as the inventory of unsold homes on the market increases.
If you’re selling your home in the area, it will now take you an average of 146 days to find a buyer, the longest it has taken in more than 18 years. This should put even more pressure on prices, meaning that buyers will find great deals on Chicago Homes For Sale around the neighborhood.
Technorati Tags: Chicago Homes for Sale, Chicago Real Estate, Calumet City Homes for Sale
Sales of single-family homes drop in Calumet City Sales of single-family homes fell during the first quarter across Chicago, including many areas around the suburbs. Calumet City was one neighborhood that saw a significant drop in demand during the quarter.According to data from the Chicago Association of Realtors, a total of just 53 single-family homes were sold in the neighborhood during the first quarter, down from 89 homes sold during the same period in 2007. It was a disappointing result for the neighborhood that had seen sales rebound in 2007.
The drop in demand for single-family homes around Calumet City was felt by many homeowners who had to drop their asking price. The average sales price for homes sold during the first quarter posted a 23 percent decline from the same period in 2007, and could continue to drop as the inventory of unsold homes on the market increases.
If you’re selling your home in the area, it will now take you an average of 146 days to find a buyer, the longest it has taken in more than 18 years. This should put even more pressure on prices, meaning that buyers will find great deals on Chicago Homes For Sale around the neighborhood.
Technorati Tags: Chicago Homes for Sale, Chicago Real Estate, Calumet City Homes for Sale
