The real estate market in Chicago is going through a period of declining sales and increasing inventory. Austin is no exception.
According to data from the Chicago Association of Realtors, a total of just 45 homes were sold in the neighborhood during the fourth quarter. This is a 40 percent drop in sales in just one year, and the lowest total sales the neighborhood has seen since 1993 during the fourth quarter.
If you’re planning on selling your home in Austin, it will now take you an average of 121 days to find a buyer, up from 103 days last year. The rise in the number of unsold homes sitting on the market longer is taking a toll on prices in the area.
According to the C.A.R. report, the average sales price for single-family homes in Austin dropped by 12 percent during the fourth quarter.
Buyers looking for great prices on homes in Chicago will find exactly what they’re looking for in this popular neighborhood. With an average sales price of $216,771, Austin is an excellent choice for families looking to get in their first home. Find great deals on Chicago Homes For Sale in neighborhoods around the city.
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