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.
|$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