February 26, 2008

Logan Square condo sales dip 28 percent

Category: Lakeshore Condos. Posted by Mike at 10:41 pm.

Sales of condos around Chicago were down in many neighborhoods around the city. Even Logan Square, which has enjoyed a strong increase in sales in recent years, saw a 28 percent decline during the fourth quarter.

According to data from the Chicago Association of Realtors, a total of 113 condos were sold in the neighborhood during the fourth quarter, down from 156 units sold during the same period in 2006.

The drop in sales led to a slight increase in the average turnover time for condos on the market. If you’re selling your condo in Logan Square, it will now take you an average of 114 days to find a buyer, up from 98 days a year ago.

Declining demand in the area also led to lower prices. The average sales price during the fourth quarter dropped by 2 percent from the same period in 2006, and could continue to drop if demand doesn’t pick up in the short term.

If you’re looking for Chicago Condos For Sale at an affordable price, Logan Square now offers excellent opportunities. Browse through the best condos on the market and find the perfect home for you and your family today.

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