chicago-condos Dave on 16 Nov 2007 08:37 am

Lower prices attract more buyers to Montclare

Prices for condos in Montclare dropped during the third quarter attracting more buyers to the neighborhood.

According to the Chicago Association of Realtors, the number of condos sold during the third quarter in the neighborhood jumped by 183 percent from the same period last year.  A total of 17 condos were sold during the quarter.

The drop in prices may have been one of the main reasons behind the increased activity in the real estate market in Montclare.  The average sales price was down 9 percent from last year, with a condo selling for an average of $180,594 during the quarter.

The increase in activity also took pressure off a market that had a large number of unsold properties sitting for an average of 150 days.  The turnover time in Montclare dropped to 119 days, a 21 percent decrease from last year.

It is a buyers market for condominiums in Montclare.  Buyers should expect to see further drops in prices as sales need to pick up even more to absorb the still large inventory of condos for sale in the area.

Find excellent Chicago Condos at affordable prices in Montclare today.

Technorati Tags: , ,

Share and Enjoy:These icons link to social bookmarking sites where readers can share and discover new web pages.
  • del.icio.us
  • digg
  • NewsVine
  • Simpy
  • YahooMyWeb

Comments are closed.