While many areas around Chicago are seeing a drop in sales of single-family homes, Chatham was one neighborhood that experienced steady demand during the fourth quarter.
According to the Chicago Association of Realtors, a total of 41 homes were sold in Chatham during the fourth quarter. This is a slight increase from the 40 homes sold during the same period in 2006.
However, homeowners around Chatham are experiencing longer waits when it comes time to find a buyer in the neighborhood. According to the C.A.R. report, if you’re selling your home in Chatham, it will now take you an average of 101 days to find a buyer, up from 91 days a year ago.
The rise in the inventory of homes on the market may have led to a drop in prices around the neighborhood. The average sales price during the fourth quarter posted a 16 percent drop from the same period in 2006, one of the steepest drops in the city.
Buyers looking for a great deal for a single-family home should check out the great deals currently on the market around Chatham. Browse through Chicago Homes For Sale in this and many other neighborhoods around the Chicago region today.
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