Chicago Condo Directory

Sales of condominiums and lofts in Logan Square were down during the fourth quarter.  According to data from the Chicago Association of Realtors, a total of 113 units were sold during the quarter.

This is a 28 percent drop from the same period in 2006, but is still a relatively strong showing for the neighborhood.

The drop in sales led to a marked increase in the average turnover time for condominiums on the market.  If you’re selling your condo in the neighborhood, it will now take you an average of 110 days to find a buyer, up from 86 days a year ago.  The increase in the number of condos on the market is putting pressure on prices in the area.

Prices were down slightly during the fourth quarter in Logan Square.  The average sales price during the fourth quarter was 2 percent lower than during the same period in 2006.

If demand for condominiums doesn’t pick up in the short term, buyers could see prices drop even further.  However, the neighborhood’s popularity will certainly draw buyers looking for prices for Chicago Condos For Sale that haven’t been seen in a couple of years in the area.

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