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Sales up in Bloomingdale

While sales of condos and lofts were down around Chicago, some neighborhoods were able to buck the trend and record an increase in demand. Bloomingdale was one area in the Chicago suburbs to see higher sales during the first quarter.

According to data from the Chicago Association of Realtors, a total of 36 condos and lofts were sold in the neighborhood during the first quarter, up from 28 units sold during the same period last year. Sales nearly returned to levels seen in 2006, great news for the market.

The increase in demand helped take some pressure off of the market during the first quarter. Condo owners and developers are seeing a drop in the inventory of unsold units on the market. If you’re selling your condo in Bloomingdale, it will now take you an average of 122 days to find a buyer, down from 132 days a year ago.

Prices were up sharply during the first quarter. The average sales price rose by an impressive 30 percent from the same period last year. It was one of the largest increases for any neighborhood in the Chicago suburbs. Buyers, however, are still seeing good prices for some Chicago Condos For Sale around Bloomingdale.

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This entry was posted on Friday, July 18th, 2008 at 8:31 pm and is filed under Condos . You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.

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