Sales of condos around Deerfield have hit their lowest point in over 16 years. According to data from the Chicago Association of Realtors, a total of just 20 condos were sold during the third quarter, down more than 50 percent from the same period in 2006.

This is the lowest total sales for the quarter in more than 16 years in Deerfield. However, despite the dramatic drop in activity in the real estate market in the city, the average turnover time for condos on the market also declined. If you’re selling your condo in Deerfield, it will now take you an average of 66 days to find a buyer, down from 73 days a year ago.

The relatively stable inventory of condos for sale in the area helped prices remain steady during the third quarter. The average sales price in the neighborhood rose by one percent during the quarter. However, if demand doesn’t pick up in the short term, and the inventory of condos on the market increases, buyers could start to see lower prices for Chicago Real Estate around Deerfield. Find great properties today and enjoy an incredible lifestyle on Chicago’s north shore.

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This entry was posted on Wednesday, February 6th, 2008 at 5:23 pm and is filed under Deerfield Real Estate(t) . You can leave a response.