CHICAGO—After a relatively tough 2014, the metro Chicago housing market bloomed in the past several weeks as warmer weather returned. March home sales activity hit its highest level since 2006, according to an analysis by RE/MAX. In the seven-county metro area, a total of 8,078 home sale transactions were closed in March, 13% more than the 7,169 sales in March of last year and slightly more than the 8,057 sales transactions recorded in March 2007.
RE/MAX officials based their analysis on sales data gathered by MRED LLC, the regional multiple listing service.
Home prices followed a similar trajectory, with the median sales price for homes in the metro area reaching $205,000, 16% higher than in March of last year and the highest March median since 2008.
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
