Posted by: union03g | June 22, 2009

Winners & Losers in Chicago’s Suburbs – May 09 Stats

During the month of May, the North West burbs were giving much less discounts than the North Shore, generally. Places like Lake Forest and Highland Park are giving a 10%+ discount off the list prices, while Schaumburg and Carol Stream are holding tight to the asking prices. I’m sure that more expensive luxury homes have more price elasticity than the $115,000 Round Lake homes of the far North West. Or maybe rich people simply feel they need to sell quicker to avoid being penalized by massive mortgage payments – thus the quick sell discounts. The reasoning is open for debate I suppose.

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