Chicago luxury condos sold up 50% in 2nd quarter!

The number of listed Chicago condos that sold for $1M or higher in the second quarter was up 50% from second quarter 2011.* There were 102 Chicago luxury condo sales compared with 68 a year earlier. Only 2 of the 102 sales were short sales or foreclosures.

As shown below, the only quarter in the past 3 years with higher Chicago luxury condo sales was the second quarter of 2010. There were 107 such sales that quarter.

Chicago Luxury Condo Sales 2nd Qtr. 2009 to 2nd Qtr. 2012

Chicago Luxury Condo Sales 2nd Qtr. 2009 to 2nd Qtr. 2012

The inventory of Chicago luxury condos for sale in the second quarter was down 13.5% from a year earlier. Pending sales were up 61.3% setting a 3 year quarterly high, so sales should do well in the 3rd quarter. The average days on market for pending sales was down 13.7%.

Over 97% of all Chicago luxury condos sold in the second quarter were in downtown Chicago, Lincoln Park or Lakeview.

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

To see condo & co-op reviews and what’s for sale in those buildings see DOWNTOWN HOMES FOR SALE and LAKEVIEW & LINCOLN PARK HOMES FOR SALE above in the right column.

* includes co-ops and townhouses

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ABOUT THE AUTHOR

Fran Bailey Fran Bailey is a Realtor who has been quoted in numerous Chicago and national publications. To schedule showings for any listings, get a free market analysis for your home or to contact Fran email her at fran.bailey@bairdwarner.com or call 773.793.4516. Learn More

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