Sales of single family homes jumped during the fourth quarter Uptown. According to the Chicago Association of Realtors, a total of 104 homes were sold during the fourth quarter in the neighborhood.
This is a jump of more than 35 percent increase in sales from the same quarter in 2006, and the second highest total sales for one quarter in the neighborhood in more than 16 years.
The increase in sales was helped by a drastic drop in prices around the neighborhood. According to the C.A.R. report, the average sales price during the fourth quarter showed a 22 percent decline from the same quarter in 2006.
However, despite the drop in prices and increasing sales in the neighborhood, sellers were waiting longer to find a buyer for their home. If you’re selling your home in Roseland, it will now take you an average of 113 days to find a buyer, up from 77 days a year ago. This is the longest turnover time the neighborhood has seen in more than 16 years.
If you’re in the market for affordable Chicago Homes, check out what’s available in Roseland today. Prices haven’t been this low in four years in the neighborhood.
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