Highwood isn’t one of the largest real estate markets on the North Shore. However, sales of both condominiums and single-family homes have slowed to lower than normal levels during the past few months in the neighborhood.

According to data from the Chicago Association of Realtors, a total of just 1 condo was sold in Highwood during the second quarter. This is just the second time since 2001 that sales have fallen to that level. Sales of single-family homes were also slow during the quarter. A total of just 2 homes were sold during the second quarter. Just three years ago, 10 homes were sold during the same period, the high-water mark for the market in the past 18 years.

However, homeowners and developers were able to find a buyer much quicker during the second quarter. The average market time for the homes sold during the second quarter fell to 174 days. A year ago it took an average of 232 days to find a buyer.

Sales around the North Shore have fallen as buyers face a tight credit market and increasing scrutiny from banks and lenders. However, for those qualified buyers on the market for great deals on North Shore Chicago Real Estate, prices are starting to come down on many properties around the region.

Technorati Tags: North Shore Chicago Homes for Sale, Chicago Condos, Highwood Real Estate

This entry was posted on Monday, September 22nd, 2008 at 10:01 pm and is filed under Highwood Real Estate(t) . You can leave a response.