A drop in prices for single-family homes in Forest Glen brought an increase in sales in the neighborhood.
According to the Chicago Association of Realtors, the average sales price for the third quarter was 2 percent lower than the same period last year. The average sales price stood at $532,877 during the quarter.
The drop in prices in the area meant more activity in the market. A total of 49 homes were sold during the third quarter, a 44 percent jump from last year, but still well below the number of sales seen during previous years.
Homeowners with their property on the market may need to drop prices even further over the next few months as the inventory of unsold homes increases in Forest Glen. If you’re selling your property, it will take you an average of 142 days, or almost 5 months to find a buyer.
This is 112 percent longer than last year and the longest turnover time seen in more than 15 years in the neighborhood. Buyers should be on the lookout for excellent prices on Chicago Homes For Sale in Forest Glen, particularly if demand doesn’t increase in the next few months.
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