Condo prices continued to rise in Wilmette. The average sales price during the third quarter rose by three percent from the same period last year and now stands at $399,214, according to data from the Chicago Association of Realtors.

However, increasing prices in the area may have put a brake on demand for condos. A total of 14 condos were sold during the third quarter, a 46 percent drop from the same period last year and the lowest total for the quarter in more than 16 years.

Fewer sales meant longer waits for condo owners looking to sell their property in Wilmette. If you’re selling your condo, it will now take you an average of 134 days to find a buyer, a 44 percent jump from last year.

If demand continues to drop and the supply of unsold condos on the market jumps, then many sellers may be forced to offer a lower asking price to attract new interest. With prices dropping in many neighborhoods around the Chicago region, this may be the moment for buyers looking for great deals on Chicago Condos in Wilmette.

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The market for luxury condos on Chicago’s North Shore continues to increase as new developments come to the area. One of the newest luxury condominium projects to come to Skokie is Optima Old Orchard Woods.

This large development offers a total of 691 luxury units in three towers. Buyers can choose from one, two, and three-bedroom condominiums, with prices starting in the high $200s and ranging up to $700,000 for the largest penthouse units.

Optima Old Orchard Woods has an incredible list of community amenities. Residents will love the tennis court and pools, rooftop terraces, and party room. Each building also has an indoor heated parking garage, with one space included with each unit and extra spaces available for purchase.

Shopping, public transportation, and restaurants can all be found within minutes of home at Optima Old Orchard Woods. The development is also conveniently located next to Harms Woods, the perfect place for rest and relaxation from the stress of everyday life.

If you’re in the market for a new condo in the area, browse through the best North Shore Chicago Condos and find the home of your dreams today. Enjoy the luxury of maintenance free living without giving up a suburban lifestyle.

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A slowing real estate may be bad news for some. However, for buyers looking for great real estate in Waukegan, the market offers several excellent single family homes at great prices.

According to data from the Chicago Association of Realtors, the average sales price for homes sold during the third quarter fell to $158,912, a 6 percent drop from the same period last year.

The drop in prices came about as a result of a drastic drop in demand for homes around Waukegan, as many buyers face difficulty qualifying for a loan. A total of 124 homes were sold in the area during the third quarter, a 43 percent drop from last year and the lowest total for the quarter in more than 16 years.

Slower sales in Waukegan has also led to an increase in the number of homes sitting on the market. The average turnover time for homes on the market in Waukegan was up to 117 days, or nearly 4 months during the third quarter, a 41 percent increase from last year.

Now may be the time for buyers looking to take advantage of great prices for homes in Waukegan. Prices could continue to drop in the neighborhood if demand doesn’t recover over the next few months. Browse through incredible Chicago Real Estate in Waukegan and other areas around the region.

Technorati Tags: Chicago Real Estate For Sale, Waukegan Housing Market, Waukegan Homes