Chicago luxury condos sold up over 63% in 4th quarter!

The number of listed Chicago condos that sold for $1M or higher in the 4th quarter was up 63.3% from 4th quarter 2011.* There were 98 Chicago luxury condo sales compared with 60 a year earlier. None of the 98 sales were short sales or foreclosures.

As shown below, quarterly Chicago luxury condo sales have been up year over year for the past 3 quarters.

Chicago Luxury Condo Sales 4th Qtr. 2009 to 4th Qtr. 2012

Chicago Luxury Condo Sales 4th Qtr. 2009 to 4th Qtr. 2012

The inventory of Chicago luxury condos for sale in the 4th quarter was down 22% from a year earlier. Pending sales were up 78%, so sales should do well in the 1st quarter of 2013. The average days on market for pending sales was down 21%.

77% of all Chicago luxury condos sold in the 4th quarter were in downtown Chicago. Another 17% of Chicago luxury condos sold were in Lincoln Park.

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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*Statistics include co-ops, lofts, apartments and townhouses. Information is based on data from Midwest Real Estate Data (MRED).

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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