As the Chicago real estate market faces one of the most difficult moments in recent years, West Pullman is showing signs that the worst may be over in the neighborhood.
According to data from the Chicago Association of Realtors, sales of single family homes recovered during the third quarter. A total of 57 homes were sold in the neighborhood during the third quarter, an 8 percent increase from the same period last year.
Homeowners in West Pullman are still facing a difficult market. If you’re selling your home in the area, it may take you longer than you thought to find a buyer. The average turnover time for homes on the market in the area was up to 111 days during the third quarter, a 68 percent increase from the same period last year.
Sales in the area may have been spurred by lower prices for homes. The average sales price during the third quarter in West Pullman was down by 10 percent from the same period last year, and now stands at $106,505, making the neighborhood one of the most affordable in the city. It was the first drop in the average sales price since 2000.
If you’re looking for affordable Chicago Homes For Sale, check out what’s on the market in West Pullman today.
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