The real estate market in Highland Park continued to see fewer sales of single-family homes during the third quarter. The neighborhood was one of many around the North Shore Real Estate market to suffer from declining demand.

According to data from the Chicago area MLS, a total of just 66 homes were sold in Highland Park during the third quarter. This is a drop of 18.5 percent from the same period last year, and a decline of more than 32 percent in sales from two years ago. Demand for the most affordable units on the market was actually up during the third quarter. A total of 23 units were sold for less than $500,000 during the quarter, up from 17 units sold in the same price range a year ago.

However, a sharp drop in demand for the most expensive homes in Highland Park helped bring the average sales price down from the same period last year. Just 19 homes were sold for more than $1 million during the third quarter, down from 29 units a year ago. Prices fell 4.2 percent to an average of $872,573. Buyers are starting to see some great deals on homes in every price range around Highland Park.

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This entry was posted on Sunday, October 19th, 2008 at 1:23 pm and is filed under Highland Park Real Estate(t) . You can leave a response.