The National Association of Realtors’ recently released their most recent Existing Home Sales Report, which shows home sales in nearly every price range are up dramatically from this time last year.
As noted in the report, five of the six price ranges tracked saw an increase, with the under $100,000 category showing the only decline, down just over 10% from 2014. And those behind the report are linking an overall lack of inventory in distressed properties on the market with that particular decline, which is a telling sign at just how well the market has recovered since the crash.
As for the other categories, home sales in the $100,000 to $250,000 price range are up 9%, home sales in the $250,000 to $500,000 price range are up an astounding 21.2%, homes in the $500,000 to $750,000 price range up 19%, home sales in the $750,000 to $1M price range up 18%, and home sales over $1M are up 13%.
Given such high increases, if your home or condo in downtown Chicago has been on the market long, give Gold Coast Realty a call to see how we can help get your property sold fast in today’s very red hot market!