chicago-condos Dave on 12 May 2008 12:28 pm
Great first quarter sales for Douglas
Buyers continue to flock to neighborhoods south of downtown Chicago in search of affordable housing in a convenient location. Despite a downturn in sales around the city, many neighborhoods in the southern part of the city are seeing a steady increase in demand.
Douglas was one neighborhood that enjoyed an increase in sales during the first quarter. According to data from the Chicago Association of Realtors, a total of 45 condominiums and lofts were sold in the are during the first quarter, up from 26 units sold during the same period last year. This is an all-time high for the market in Douglas.
Condo owners and developers enjoyed one of the healthiest markets in the city. If you’re selling your condo in Douglas, it will take just 32 days to find a buyer, one of the lowest average turnover times in all of the Chicagoland region. This is a dramatic drop from last year, when it took 102 days to find a buyer.
Prices are responding to the strong market conditions. The average sales price grew by 27 percent in the neighborhood during the first quarter, and now sits at an all time high of $239,000. There seems to be no end in sight for the increase in demand and prices for condos in this affordable section of Chicago.
Keep an eye out for excellent Chicago Condos For Sale around Douglas today.
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