Sales in the luxury home market in the Chicago Metro gained in the third quarter of 2017 as sales soared in the City of Chicago, according to RE/MAX
Sales in the luxury home market in the Chicago Metro gained in the third quarter of 2017 as sales soared in the City of Chicago, according to RE/MAX.
Sales were 1.8% higher than the same period of 2016 with 741 units; year-to-date luxury home sales were 10% up on the same period of 2016 with 2,095 properties selling.
Tighter inventory of seven figure homes was 5% down at the end of September compared to a year earlier.
The median sales price of a luxury home in the third quarter was down 1.7% year over year at $1.31 million.
"The quarter just ended underscored a fairly stable luxury market," explained Chris Calomino, marketing communications manager for RE/MAX Northern Illinois. "Over the last four years, third-quarter sales have held in a narrow range, with a high of 742 units in 2015 and a low of 728 units in 2016. An encouraging sign this quarter was the decline in luxury inventory because we've seen a significant increase in luxury listings over the last few years."
In the city of Chicago third-quarter luxury home sales were up 15.6% year over year to 356 units well the median sales price was down 3% to $1,342,500
Sales were 1.8% higher than the same period of 2016 with 741 units; year-to-date luxury home sales were 10% up on the same period of 2016 with 2,095 properties selling.
Tighter inventory of seven figure homes was 5% down at the end of September compared to a year earlier.
The median sales price of a luxury home in the third quarter was down 1.7% year over year at $1.31 million.
"The quarter just ended underscored a fairly stable luxury market," explained Chris Calomino, marketing communications manager for RE/MAX Northern Illinois. "Over the last four years, third-quarter sales have held in a narrow range, with a high of 742 units in 2015 and a low of 728 units in 2016. An encouraging sign this quarter was the decline in luxury inventory because we've seen a significant increase in luxury listings over the last few years."
In the city of Chicago third-quarter luxury home sales were up 15.6% year over year to 356 units well the median sales price was down 3% to $1,342,500
