Average Sales Prices Down For Chicagoland's Luxury Listings
Posted by Leo Clark. on Wednesday, June 10th, 2015 at 4:24pm.
While Chicago’s luxury real estate market seems to be red hot with several new condo developments in the works and a number of high-end apartment towers having just been completed in recent months, sales prices for Chicagoland’s top 5% of listings have actually dropped by about 3.9% from the first quarter of 2014 to $1.491 million. Although the price drop is relatively minimal, it’s also very intriguing given the bottom 95% of Chicagoland listings saw average sales prices jump substantially by nearly 12%, or to about $265,000.
The analysis, which was originally conducted by national real estate data company and brokerage Redfin, isn't all bad however when it comes to the Windy City’s luxury segment of the marketplace. In terms of the average days on market, the top 5% of listings around the Chicago area actually sat on the market 1 day less than listings in the bottom 95% in the first quarter of 2015, with luxury listings at 61 days on market and the bottom 95% of listings at 62 days on market.
So, are you ready to start searching some of Downtown Chicago's most expensive listings yet? If so, have a look at a few of the featured listings below, or start browsing all luxury Chicago real estate on the market here!
1500 North Lake Shore Drive Ph
$8,500,000
- 6 Beds
- 7 Baths
- 8,000 SqFt
Rich In Scale, History And Presentation, This Prewar Duplex Penthouse In The Gold Coast Is In A R...
52 East Bellevue Place
$7,900,000
- 6 Beds
- 9 Baths
Gold Coast!! Stunning Red Brick Single Family On Beautiful Tree- Lined Street. Rare Wide Lot 26x1...
9 West Walton Street 1901
$7,775,000
- 4 Beds
- 5 Baths
- 5,230 SqFt
Elegant Extra-large 5230sf Home In The Gold Coast's Most Coveted Building - No. 9 Walton. Highly ...
1521 North State Parkway
$7,700,000
- 6 Beds
- 8 Baths
- 9,700 SqFt
- 0.09 Acres
Exquisite And Historic, 1521 N. State Parkway Is A Rare, Prized Property On One Of Chicago's Most...
159 East Walton Place 31a
$7,500,000
- 3 Beds
- 4 Baths
- 5,500 SqFt
Full Floor Art Deco Masterpiece Featured In Elle Decor Magazine Pays Homage To The 1929 Built Pal...
1515 North State Parkway
$7,500,000
- 6 Beds
- 7 Baths
- 9,680 SqFt
Absolutely Magical, Truly Custom Residence In The Heart Of The Gold Coast. Located On An Oversize...
9 West Walton Street 2902
$7,175,000
- 4 Beds
- 5 Baths
- 4,420 SqFt
Located In The Gold Coast's Most Coveted Address, This Stunning Luxurious 4-bedroom 4.1 Bath Offe...
159 East Walton Place 22a
$6,995,000
- 3 Beds
- 5 Baths
- 5,500 SqFt
Luxury Redefined At The Palmolive: A Full-floor Masterpiece Discover Unparalleled Luxury At Th...
1524 North Astor Street
$6,995,000
- 3 Beds
- 6 Baths
- 6,500 SqFt
Set On One Of The City's Most Desirable Blocks With Unobstructed Views Of The Cardinal's Mansion ...
1300 North State Parkway 1201
$6,995,000
- 5 Beds
- 6 Baths
- 6,800 SqFt
Every Inch Of This Soaring Luxury Landmark, Two-story Ambassador West Penthouse, Has Been Meticul...
363 East Wacker Drive 5506
$6,992,064
- 4 Beds
- 10 Baths
- 4,779 SqFt
Gorgeous Wrap Around North, East And South Views Of Lake , River, City And Shoreline. East Facin...
9 West Walton Street 2701
$6,500,000
- 3 Beds
- 4 Baths
- 4,500 SqFt
Rarely Available Half Floor Home With 750sf Double Terrace In The Gold Coast's Most Coveted Build...