January 28, 2008

West Town sees jump in sales

Category: Luxury Condos. Posted by Mike at 10:46 pm.

As sales drop around the Chicago region, some neighborhoods continue to see rising demand. Sales of condos in West Town rose during the third quarter, according to recent data from the Chicago Association or Realtors.

According to the report, a total of 440 units were sold during the third quarter, up from 415 units sold during the same period in 2006.

The rise in demand in the area led to an improvement in the average turnover time in West Town. If you’re selling your condo in the neighborhood, it will now take you an average of 86 days to find a buyer, just one day less than last year. However, this is good news for condo owners and developers.

The average sales price continued to climb in the neighborhood on the heels of rising demand and a steady inventory. The average sales price during the third quarter posted a 6 percent gain from the same period in 2006, and could continue to rise if demand remains steady in the area.

Buyers looking for Chicago Condos for Sale in a popular neighborhood with strong fundamentals should check out what’s available in West Town today.

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