Sales of single-family homes remained steady during the third quarter in North Center. According to data from the Chicago Association of Realtors, a total of 58 units were sold during the period, unchanged from the previous year.
Homeowners looking to sell their home will have to wait a bit longer. The average turnover time during the third quarter rose to 100 days, up from 94 days a year ago. However, this is still below the average turnover time for all of Chicago, and a sign of the strength of the market in North Center.
Prices continued to rise in the area. The average sales price of homes sold during the third quarter was up 18 percent from the same period last year, and could continue to rise if demand remains steady. However, further turmoil in the mortgage market could make it difficult for many buyers to find a mortgage as banks and lenders tighten requirements on the heels of an increase in foreclosures.
The popularity of the neighborhood should also help maintain prices and keep demand from falling. Find great deals today on Chicago Homes for Sale around North Center and discover why so many people are choosing to live in this pleasant neighborhood.
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