Sales pick up in Pullman
Pullman isn’t the first stop on most buyers list of must-see neighborhoods in Chicago. However, the neighborhood was one of just a few in the city that saw an increase in sales of condos and lofts in 2007.
According to data from the Chicago Association of Realtors, a total of 24 units were sold during the year. This is a 20 percent increase in sales from 2006, and is welcome news for developers and condo owners in the neighborhood.
The average turnover time for units on the market continues to drop in Pullman. It took an average of 57 days to find a buyer in 2007, down from 59 days in 2006. It is the fourth straight year that the average turnover time has dropped in the neighborhood.
With strong sales and a declining number of unsold condos sitting on the market, it’s no surprise that prices continued their upward march. After breaking through the $100,000 mark in 2006, prices rose another 7 percent in 2007.
However, the neighborhood continues to be one of the most affordable in the city, and is an excellent option for young families looking for their first Chicago Condo.
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