Ashburn continues to lead Chicago in home sales according to the most recent quarterly numbers from the Chicago Association of Realtors.
During the second quarter of 2007, Ashburn saw a total of 94 homes sold, the most of any Chicago neighborhood. However, sales were off more than 40 percent from the previous year. During the second quarter of 2006, 162 homes were sold around Ashburn.
The median price for a single family home in the neighborhood increased by 6 percent. This increase, however, is far below the double and triple digit gains that the neighborhood has seen in home prices during 2005 and 2006.
If you are currently in the market to sell your home in Ashburn, it is going to take you 81 percent longer to find a buyer. It now takes an average of 112 days to sell a home in Ashburn.
What about price? Ashburn has seen a slight increase in average sales price during the second quarter of 2007, but downward pressure from higher inventories and fewer buyers looking for a new home could wipe away this year’s gains.
The market for Chicago Luxury Homes continues to face increased turnover rates and fewer sales in neighborhoods throughout the city.
Technorati Tags: Chicago Luxury Homes, Chicago Real Estate Market, Ashburn Real Estate stats
