2007 wasn’t the best year for the Chicago real estate market, particularly for single-family homes for sale around the city.
According to data from the Chicago Association of Realtors, only 11 of the 76 statistical areas for the report saw an increase in sales of single-family homes during 2007. Edgewater, Forest Glen and Lincoln Square were the most active markets that saw an increase in sales.
A total of 69 units were sold in Edgewater, up from 61 units sold in 2006. Forest Glen saw a total of 168 homes sold in 2007, up from 147 units sold in the previous year. Lincoln Square sales rose to 103 units during the year.
Fuller Park, Bridgeport, O’Hare, and the Near West Side also saw an increase in sales. Both Bridgeport and the Near West Side saw a record number of homes sold in 2007.
However, as many neighborhoods with sluggish sales start to see lower prices, demand could start to pick up in the short term. Buyers looking for great prices on Chicago Homes For Sale can find several great deals throughout the Chicagoland region.
Technorati Tags: Chicago Homes For Sale, Chicago Real Estate Report, Near West Side Homes For Sale
