Sales of single-family homes were down across the Chicagoland region during the first quarter. However, some neighborhoods were able to continue to attract buyers despite the rough market conditions in the area.
North Center was one area in Chicago that saw sales inch up during the first quarter. According to data from the Chicago Association of Realtors, a total of 35 homes were sold in the neighborhood during the first quarter, up from 34 homes sold during the same period last year.
Buyers focused on the most expensive properties during the first quarter. The average sales price for new and resale single-family homes was up by an impressive 38 percent, one of the largest increases in prices in all of Chicago. However, a rising inventory of unsold homes on the market could bring prices down around the neighborhood.
If you’re selling your home in North Center, it will now take you an average of 182 days to find a buyer in the area, up from 157 days a year ago. This is the longest that it has taken to find a buyer in more than 17 years, and could make it easier for buyers to find great deals on Chicago Homes for Sale around North Center.
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