The luxury housing market is on the rise in Chicago, witnessing double digit gains in the second quarter of the year. According to a recent report by Re/Max, the Chicago luxury housing market picked itself back up after a mediocre start in the first few months of the year.
- Luxury home sales in the seven-county Chicago metro area increased 12 percent annually in the second quarter of the year.
- Home sales in the city of Chicago grew 18 percent year-over-year in the second quarter, making up 48 percent of the total amount of luxury sales in the region.
- Despite the climb in home sales, prices dipped a bit in the Chicago metro area.