The market for single family homes in the Chicago neighborhood of Edgewater remained strong despite a general drop in demand around the city.
According to the Chicago Association of Realtors, a total of 20 homes were sold in Edgewater during the third quarter, a 33 percent jump from last year.
Meanwhile, the number of homes on the market dropped during the third quarter. According to the C.A.R. report, the turnover time for homes on the market in the neighborhood dropped by 27 percent from last year.
If you’re selling your home in the area, it will now take you an average of 63 days to find a buyer, more than 50 days less than the average for all of Chicago.
Strong sales and improving turnover times have led to an increase in the average sales price for homes in Edgewater. The average sales price rose to $673,700 during the third quarter, a 3 percent increase from last year.
Edgewater could be one of the few Chicago neighborhoods that see increased activity in the real estate market in the short term. Find excellent deals on Chicago Homes For Sale in neighborhoods throughout the city.
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