Sales of $1 million-plus homes in the Chicago area grew modestly in 2018 after a big year in 2017.
Luxury sales grew by 1.4 percent last year, a decrease from the 10 percent growth in sales of $1 million-and-up homes recorded in 2017, according to Crain’s.
Much of the year’s luxury sales were concentrated in Chicago, where a slew of new, high-end condominiums dominated the list of the year’s priciest home sales. The Near North Side saw 377 sales of $1 million-plus, more than suburbs Hinsdale, Wilmette and Lake Forest combined, according to Crain’s, which cited statistics from Re/Max.
Despite the slowdown in the overall luxury market, sales of homes trading at $4 million or more posted a record year in 2018.
While 2018 was good for high-end home sales, that can’t be said for the rest of the local housing market. Sales of homes at all prices were down 3.5 percent through September.Recommend0 recommendationsPublished in