Sales of condominiums picked up during the third quarter in Deerfield. The neighborhood was one of just a few around the Chicago suburbs to see an increase in demand for new and resale condominiums. Buyers were attracted to the neighborhood by a strong decline in prices, which were off 26 percent from the same period last year.

According to data from the MLS, a total of 27 condos were sold during the third quarter in Deerfield, up from 21 units sold during the same period a year ago. However, sales at the peak of the market in 2006 were significantly stronger, with 39 units sold during the third quarter. The increase in sales came as the average sales price plunged in the neighborhood.

According to MLS sales data, the average sales price fell to $220,054 during the third quarter. Last year the average sales price hit an 18-year high of $299,324. Prices in the area could continue to drop as the number of unsold condos on the market remains high. If you’re selling your condo in the area, it will now take you an average of 148 days to find a buyer. This is twice the amount of time it took to find a buyer a year ago. Buyers should keep an eye out for great deals on North Shore Chicago Condos in Deerfield.

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This entry was posted on Wednesday, October 15th, 2008 at 10:55 pm and is filed under Deerfield Real Estate(t) . You can leave a response.