Sales of single-family homes fell by more than 30 percent in Bolingbrook during the first quarter. The area has been one of the hardest hit by the recent downturn in sales around the Chicago suburbs.
According to data from the Chicago Association of Realtors, a total of just 78 new and re-sale homes were sold in the area during the first quarter, down from 129 units sold during the same period last year. It was the fourth straight year of declining sales in the neighborhood, after reaching a high of 238 homes sold during the first quarter 2004.
Buyers are starting to see some great prices on homes for sale around Bolingbrook. The average sales price fell by 5 percent during the first quarter, and could continue to fall in the short term if demand doesn’t recover. The drop in demand has also led to an increase in competition among homeowners.
If you’re planning on selling your home, you may want to set in for a long wait. The average turnover time has almost doubled in just two years in the neighborhood. It now takes an average of 147 days to find a buyer, up from 127 days a year ago. It took just 75 days to sell a home in 2006.
Buyers should keep an eye out for great deals on Chicago Homes For Sale around Bolingbrook.
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