Sales of single-family homes have plunged in many neighborhoods around the city. However, some areas of Chicago have seen an increase in sales in recent months. Calumet Heights was one area that saw an increase in activity during the first quarter.
According to the Chicago Association of Realtors, a total of 20 homes were sold during the first quarter, up from 12 homes sold during the same period in 2007. It was welcome news for homeowners in the neighborhood, which had seen sales drop to a new low.
However, despite the increase in sales on single-family homes in Calumet Heights, homeowners are still seeing an increase in the average turnover time. If you’re planning on selling your home in the area, it will now take you an average of 138 days to find a buyer, up from 127 days a year ago.
Also, prices in the area are starting to come down, which may be a major factor in the increase in demand for single-family homes in Calumet Heights. The average sales price fell by 15 percent during the first quarter, and could continue to fall in the short term. If you’re looking for a great deal on Chicago Homes for Sale don’t miss out on the many affordable homes in the area.
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