CHICAGO—Led by rising market for condos in the city, sales of luxury homes increased in the metropolitan Chicago area during the second quarter of 2017, according to a RE/MAX report on the sector. After rising 31% in the first quarter compared to the same period in 2016, second quarter sales rose 8% to 899 units.
“People are starting to realize the market is coming back,” Chris Calomino, marketing communications manager for RE/MAX Northern Illinois, tells GlobeSt.com. As a result, more are “starting to put their houses back on the market.”
The RE/MAX report is a quarterly analysis of $1 million-plus home sales in Cook, DuPage, Kane, Kendall, Lake, McHenry and Will counties from data compiled by Midwest Real Estate Data.
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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.
