Sales of single-family homes were down in most neighborhoods around the North Shore during the second quarter. Lake Bluff saw a slight decline in sales during the quarter.

According to data from the Chicago Association of Realtors, a total of just 25 units were sold during the second quarter in Lake Bluff, down from 28 units sold during the same period a year ago. It was the second straight year of declining sales in the neighborhood.

The drop in sales led to yet another increase in the number of unsold homes sitting on the market in Lake Bluff. If you’re planning on selling your home in the area, it will now take you an average of 232 days to find a buyer. This is one of the longest average turnover time for any city around the North Shore.

Despite the drop in sales and increasing inventory of homes on the market, prices continued to increase. Buyers focused on the most expensive units in the neighborhood, leading to an increase of 7 percent in the average sales price during the second quarter. However, buyers looking for great deals on North Shore Chicago Real Estate could start to see some low prices in the short term.

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This entry was posted on Wednesday, September 10th, 2008 at 11:38 pm and is filed under Lake Bluff Real Estate(t) . You can leave a response.