Sales of single-family homes continued to fall in Warrenville. The area saw a new low for the first quarter, one of many suburbs around the Chicago region to see an all time low during the quarter.
According to data from the Chicago Association of Realtors, a total of just 14 homes were sold in the area, including both new and re-sale units. This is down from 23 units sold during the same period a year ago. It was the lowest total sales seen in the neighborhood in the last 17 years.
However, the drop in sales didn’t lead to lower prices in the area. The average sales price was up by 1 percent during the first quarter. However, buyers could start to see lower prices as homes sit longer on the market.
Homeowners and developers are seeing one of the slowest markets in recent memory. If you’re planning on selling your home in Warrenville, it will now take you an average of 177 days to find a buyer, up from 170 days a year ago. Just four years ago it took an average of 57 days to find a buyer.
If you’re looking for great deals on Chicago Homes, Warrenville could start to see some low prices for single-family homes in the coming months.
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