CHICAGO—Sales of homes priced at $1 million or more in the metropolitan Chicago real estate market accelerated in 2015, while their median sales price declined slightly, according to a new quarterly report by RE/MAX. The firm analyzed all data compiled by MRED, the regional multiple listing service, on $1-million-plus home sales in the seven-county metro area.

There were 2,353 luxury home sales in 2015, 8% more than in 2014. The median sales price was $1.34 million, 1% less than in 2014. And the time required to find a buyer for those luxury properties rose slightly to 135 days from 131 days in 2014.

"I've spoken to our brokers who handle a fair amount of high-value transactions," Jim Merrion, regional director of the RE/MAX Northern Illinoisreal estate network, tells GlobeSt.com, and when it comes to the decline in sales prices, "the primary culprit is turmoil." Although the buyers of more modestly-priced homes may not be put off by such external factors, the high-end buyers see the churning stock market, the extremely uncertain presidential election and the fears of possible terrorist attacks as reasons to hesitate.