Inventory levels have been dropping over the past few years for Chicago condos and houses, but not Chicago mansions! The inventory of listed Chicago mansions for sale continues to rise. There were 52 single family homes with a minimum of 8,000 SF for sale in Chicago in the second quarter up 19.8% from second quarter 2011 when there were 44 such luxury homes for sale.*
As shown below the inventory of Chicago mansions for sale is at a 3 year high. It’s up 30% from second quarter 2009. Most other quarterly statistics for Chicago mansions are fairly meaningless since fewer than 5 such homes typically sell in a quarter.
The increase in Chicago mansions for sale reflects what’s happening in the Chicago Metro Area where mansions for sale are at a 3 year high as well. 447 such homes were for sale in the second quarter up 10.4% from a year earlier.
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CHICAGO MANSIONS FOR SALE
|$5M+||$3M - $5M||$1M - $3M||$1M & Below|
*Information is based on data from Midwest Real Estate Data (MRED).