Kenilworth saw an increase in sales of single-family homes during the third quarter, according to a recent report from the Chicago Association of Realtors.

A total of 13 homes were sold during the third quarter, seven higher than the same period last year. The increase in sales brought the neighborhood back to the average number of sales seen during the last few years.

However, homeowners and developers looking to sell their property shouldn’t celebrate, as the inventory of unsold homes on the market is hitting new highs. The turnover rate for homes in the neighborhood now stands at 221 days, more than three times longer than last year. It is also one of the longest turnover rates for any north shore community.

Buyers could start to find lower prices in this exclusive Chicago suburb if the inventory of unsold homes languishes longer on the market. Look for incentives from developers and sellers in the next few months in Kenilworth.

The neighborhood offers luxurious homes in one of the highest-rated locations in the Chicago suburbs. Find the best Chicago Real Estate on the north shore today and move into the home of your dreams.

Technorati Tags: Kenilworth Real Estate News, Chicago Real Estate, Chicago Homes For Sale, Kenilworth Homes

This entry was posted on Wednesday, November 21st, 2007 at 9:34 pm and is filed under Kenilworth Real Estate(t) . You can leave a response.