Chicago Condo News

Edgewater has seen a lot of activity in recent years as developers look to the neighborhood for its excellent lifestyle and affordable property. However, sales are off the peak seen in 2005.

According to the Chicago Association of Realtors, a total of 902 condos were sold in the neighborhood in 2007, down from 980 sold during the previous year. It is the lowest total annual sales that the neighborhood has seen since 2001. However, Edgewater continues to be one of the most active markets in Chicago.

Buyers interested in an Edgewater condominium may start to see lower prices in the next few months. While prices continued to rise in 2007, the one-percent increase was the lowest in more than a decade.

Also, as more condos and lofts sit on the market, sellers may face some pressure to offer incentives to attract more interest in the area. The average turnover time for units sold in 2007 rose to 122 days, up from 111 days in 2006.

Buyers should keep an eye out for great deals on Chicago Condos For Sale in Edgewater as well as other neighborhoods around the city.

Technorati Tags: Chicago Condos For Sale, Chicago Real estate, Edgewater Condos For Sale

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.

Technorati Tags: Chicago Condos For Sale, Chicago Real Estate, Logan Square Condos For Sale

As sales drop around the Chicago region, some markets are still showing some signs of strength. Lakeview has seen a slight decline in sales. However, prices are up and inventory is down in the area.

According to data from the Chicago Association of Realtors, a total of 391 condos and lofts were sold during the fourth quarter, down just 3 percent from the same period in 2006.

However, despite the slight drop in sales, the average turnover time for condos on the market also dropped during the fourth quarter. The average turnover time stood at 95 days during the quarter, down from 99 days during the previous year.

The drop in inventory of unsold condos and lofts in the neighborhood helped keep prices strong in Lakeview. The average sales price for condos and lofts sold during the fourth quarter rose by 5 percent from the same period in 2006, and could continue to rise due to the neighborhood’s popularity and privileged location.

Find great deals on some of the best Chicago Condos For Sale around Lakeview as well as in other neighborhoods across the Chicago region.

Technorati Tags: Chicago Real Estate For Sale, Chicago Condos, Lakeview Real Estate Market Update