First quarter sales jump in Douglas
Douglas was one of just a few neighborhoods in Chicago to see an increase in activity during the first quarter. Sales of condominiums jumped during the first quarter.
According to data from the Chicago Association of Realtors, a total of 45 condominiums were sold in Douglas during the first quarter, up from 26 units sold during the same period in 2007. It was the most condominiums ever sold during the first quarter. Total sales for the quarter were higher than total annual sales seen in the neighborhood just six years ago.
All other indicators for the real estate market in Douglas showed signs of strength during the first quarter. Prices for condos sold during the first quarter were 27 percent higher than those seen during the same period last year.
Prices could continue to rise as buyers snatch up Douglas condominiums at an amazing rate. The average turnover time for condos on the market in Douglas fell to just 32 days, one of the quickest average turnover times for any neighborhood in Chicago.
Buyers looking to get in the market in this affordable neighborhood can still find several great condos for sale. Browse through the best Chicago Real Estate on the market in neighborhoods around the city today.
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