chicago-condos Dave on 30 Apr 2008 10:14 pm

Sales inch up in Pullman

Sales of condominiums rose in Pullman in 2007.  The increase in demand comes on the heels of two straight years of declining sales in the area.

According to data from the Chicago Association of Realtors, a total of 24 condos were sold in the neighborhood in 2007.  This is an increase of 20 percent in sales from the previous year, but still 25 percent below the all time high of 33 units sold in 2004.

The increase in sales helped keep the average turnover time in the neighborhood from rising.  According to the C.A.R. report, the average turnover time for condos sold in 2007 was just 57 days, one of the lowest of any Chicago neighborhood.

Strong sales and a tight market for condos in this tiny Chicago market meant higher prices during the year.  The average sales price rose by another 7 percent in 2007, and now sits at an all-time high of $118,034, which is still quite affordable when compared to other neighborhoods around the city.

Buyers looking to get in their first condominium in Chicago without breaking the bank should take the time to look at the many Chicago Condos For Sale around Pullman today.

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