Sales of homes around Cortland were up in 2007, according to data from the Chicago Association of Realtors. The neighborhood was one of just a few around the Chicago suburbs to see a rise in demand for single-family homes during the year.
According to the report, a total of 52 homes were sold in the city in 2007, up from 39 homes sold during the previous year. This represents the highest annual sales seen in Cortland in at least 16 years.
Meanwhile, homeowners and developers in the neighborhood enjoy a strong market. The average turnover time for homes on the market is currently 98 days, one of just a few neighborhoods in the suburbs to see market times of under 100 days.
Lower prices may have contributed to the increase in sales in Cortland. The average sales price fell by 3 percent in 2007, giving many buyers enough incentive to close on a home in the neighborhood.
However, buyers should continue to see great prices in the neighborhood in the next few months, as home sales across the Chicago region suffer new declines. Keep an eye out for the best Chicago Homes for Sale at excellent prices in Cortland and other neighborhoods around the Chicagoland region.
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