The one bright spot in Chicago’s condo market in the 4th quarter was 4 or more bedroom condos.* The median sale price was $498,750 up 21.6% compared to 4th quarter 2009. The average sale price was $1,113,924 up 69.6% indicating that there were a lot more sales in the luxury segment of the 4+ bedroom condo market.
Chicago 4+ Bedroom Condos Median & Average Prices 4th Quarter 2010
The median sale price for all condos sold in the 4th quarter was down 11.8%. The average sale price was up 4.0% again showing an increase in sales in the luxury market.
The 4+ bedroom condo market wasn’t immune to the drop in sales. The number of 4+ bedroom condos sold in the 4th quarter was down 18.6%. The number of all condos sold was down 36.4%.
*includes townhouses and co-ops
ABOUT THE AUTHOR
Fran Bailey shows, previews and tracks downtown Chicago homes for sale giving her the insights needed to help her clients negotiate the best price and terms. Fran has been quoted in numerous Chicago and national publications. To schedule showings of listings regardless of broker or to contact Fran email her at fran.bailey@bairdwarner.com or call 773.793.4516. Learn More
Fran Bailey, Realtor
