CHICAGO—Homes across the metro region have started selling at a quicker pace this year, and that includes those selling for $1 million or more. In fact, these luxury sales in Chicagoland reached a post-Great Recession high during the second quarter. Furthermore, the sales are no longer just occurring in the wealthiest enclaves and have spread over a much wider geographic area, according to the quarterly RE/MAX Luxury Report on Metro Chicago Real Estate.
The company pegged second quarter luxury sales at 737 units, 20% more than during the same period last year and the most second-quarter sales since RE/MAX began tracking the data in 2009.
The median sales price for these luxury homes was $1,350,000 during the second quarter, unchanged from 2014. RE/MAX analyzes all luxury home sales in Cook, DuPage, Kane, Kendall, Lake, McHenry and Will counties.
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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.
