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.
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%.
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).