While the inventory of luxury condos was up in the second quarter the inventory of mansions for sale dropped 14.0% from second quarter 2013.* There were 37 mansions for sale compared with 43 a year earlier. The number of distressed listings (short sales and foreclosures) stayed at 1. The number of pending sales for Chicago […]
The number of pending sales for Chicago mansions in the first quarter rose 400% from first quarter 2013.* There were 5 houses with a minimum of 8,000 square feet with pending sales compared with 1 a year ago. Actual sales were also up. There were 3 mansions sold in the first quarter compared to 1 […]
The inventory of Chicago mansions for sale in the fourth quarter dropped 17.5% from fourth quarter 2012.* There were 33 houses with a minimum of 8,000 square feet for sale compared with 40 a year ago. The percent of distressed sales (short sales and foreclosures) dropped from 5% of the inventory to zero. Back in […]
The inventory of Chicago mansions for sale in the third quarter rose 5.1% from third quarter 2012.* There were 41 houses with a minimum of 8,000 square feet for sale compared with 39 a year ago. The percent of distressed sales (short sales and foreclosures) dropped from 13% of the inventory to zero. Back in […]
The inventory of Chicago mansions for sale in the second quarter dropped 13.5% from second quarter 2012. There were 45 houses with a minimum of 8,000 SF for sale compared with 52 a year ago. The percent of distressed sales (short sales and foreclosures) dropped from 14% of the inventory to 2%.
In the first quarter there were no sales of listed mansions in Chicago. For the past 3 years there have been an average of 3 houses sold in Chicago with a minimum of 8,000 SF.
The number of Chicago homes for sale with an elevator is increasing. There are currently over 30 for sale. In 2012 34 such homes sold. In 2011 only 16 sold.
Back in August I wrote about how inventory levels for Chicago mansions had been rising. That changed in the 3rd quarter of 2012 when the number of listed Chicago mansions for sale dropped 13.3% from a year earlier. In the 4th quarter the drop was 23.1%.
The median sale price of listed Chicago mansions (houses with at least 8,000 SF) was only $155,000 in the 3rd quarter, down 96% from 3rd quarter 2011 when the median sale price was $3.85M! I looked at the data to see how this could possibly be.
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
Want a River North mansion, but your budget is just shy of $4 million? Are you a do-it-yourselfer with a really good line of credit at Home Depot? Then one of 3 19th century Georgian and Romanesque mansions along Washington Square Park may be for you! According to YoChicago.com’s New Homes February issue (print edition), […]
Fran Bailey, Realtor