Here’s some great news for North Shore Chicago real estate – sales of Winnetka condos have returned to some of their highest levels. While sales remain down in many communities around Chicago, the Winnetka market rebounded with an increase of 42 percent in sales during the year in this North Shore Chicago neighborhood.

According to data from the Chicago Association of Realtors, a total of 27 condominiums and lofts were sold in Winnetka in 2007, up from 19 units sold during the previous year. It was just the second time in 17 years that more than 25 units were sold in the neighborhood in a year.

The rebound in the market led to a slight decrease in the average turnover time for units for sale in Winnetka. It took condo owners and developers an average of 107 days to find a buyer, down from 113 days in 2006.

The strong demand and falling number of condos sitting on the market helped prices soar during the year. The average sales price jumped by 21 percent in 2007, and could continue to rise if demand for condos in Winnetka remains steady. Prices passed through the $500,000 mark for the first time ever in the city.

Browse through the best North Shore Chicago Condos on the market and take advantage of the many deals currently on the market today in neighborhoods around the region.

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This entry was posted on Tuesday, April 29th, 2008 at 6:14 pm and is filed under Winnetka Real Estate(t) . You can leave a response.