Chicago luxury housing market taking a hit this year

  • Chicago saw 209 luxury home sales in the first quarter of 2016, a 13 percent drop annually.
  • Luxury detached home sales in the city of Chicago rose 6 percent,
  • 347 luxury homes in Chicagoland sold in an average of 184 days for a median sales price of $1,366,875.

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The luxury housing market in Chicago and its surrounding suburbs kicked off the year on cruise control. According to the Re/Max Luxury Report on Metro Chicago Real Estate, luxury sales overall are slower than they were in the first quarter of 2015, but there are still a few glimmers of