The number of listed Chicago condos that sold for $1M or higher in the third quarter was up 46.7% from third quarter 2011.* There were 110 Chicago luxury condo sales compared with 75 a year earlier. Only 1 of the 110 sales was a short sale or foreclosure.
As shown below, third quarter Chicago luxury condo sales set a 4 year high. The last time sales were higher was in third quarter 2008.
This is the second consecutive quarter of significantly improved luxury condo sales. Back in July I wrote about how Chicago luxury condo sales were up 50% in the 2nd quarter.
The inventory of Chicago luxury condos for sale in the third quarter was down 22.4% from a year earlier. Pending sales were up 20.0%, so sales should do well in the fourth quarter. The average days on market for pending sales was down 23.1%.
CHICAGO LUXURY CONDOS FOR SALE
Click below to see Chicago luxury condos for sale by price range. You can narrow the results by internal and external features. Pending sales are excluded.
|$5M & Above||$3M to $5M||$2M to $3M||$1.8M to $2M|
|$1.6M to $1.8M||$1.4M to $1.6M||$1.2M to $1.4M||$1M to $1.2M|
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* includes co-ops and townhouses
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