Some of the leading declines in the City of Chicago included the Bucktown/Logan Square (60647) neighborhoods where there was an almost 300% decrease in single-family (detached) home sales from $32,898,835 in total sales in 2006 down to only $8,214,800 for the fourth quarter (2007). The Hyde Park neighborhood (60619) saw single-family homes drop from $3.6M down to under $1M in sales, down 287%.
Rogers Park condominiums saw only 45 sales last quarter, an over 230% decrease from the prior years 149 units.
The suburbs saw some areas with even worse showings including single-family sales in Highland Park where only four homes sold last quarter totaling $1,753,600 in sales down over a whopping 400% from the $8,888,000 last year.
Over all total sales volume for the quarter was $1.5 billion down over 130% from the $3.5 billions last year.
For more information and a free quarterly update of your neighborhood visit our Chicago HOME BUZZ page at http://www.chicagohomebuzz.com and see all the data and statistics.
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Stay tuned for more....
1 comment:
Interesting post, Just a quick comment. Mathematically negative 100% of a number would be 0. So when sales fall from 100 to 50 they fell by 50% and not 100%. On the other hand if the sales went from 50 to 100, they would be said to rise by 100%. Its a bit confusing, but hope this helps.
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