The market for luxury condos in Skokie is packed with condos priced to sell. The average sales price during the third quarter hit a two-year low. According to the Chicago Association of Realtors, the average sales price now stands at $232,620, 9 percent lower than during the same period last year.

Sellers are facing one of the slowest markets in recent years. A total of 48 condos were sold in Skokie during the third quarter, a 52 percent drop from the same period last year and the lowest total sales for the quarter in more than 16 years.

Sellers are waiting longer to find a buyer. If you’re selling your condo in Skokie, it will now take you an average of 139 days to find a buyer. This is more than double the time it took to sell a condo last year in Skokie, and the longest average turnover time the neighborhood has seen in more than 16 years.

Buyers should continue to find incredible deals on North Shore Chicago Condos in Skokie if demand doesn’t pick up in the next few months. Enjoy an incredible lifestyle in Chicago’s northern suburbs at a fraction of the price.

Technorati Tags: Chicago Real Estate Report, Skokie Condos For Sale, Chicago Condos

This entry was posted on Saturday, December 29th, 2007 at 10:31 pm and is filed under Skokie Real Estate(t) . You can leave a response.