After a dip in July 2016, the number of Chicago home sales increased in August 2016.
Sales increased 7.6 percent, with 11,906 homes sold in the nine-county area, up from 11,066 during August 2015, according to Illinois Realtors. The median price increased 4.5 percent to $230,000.
In the city of Chicago, home sales rose 2.6 percent with a median price of $275,000, a 1.5 percent increase. The condo market was relatively flat, with sales up less than 1 percent, and the median price down slightly to $304,000.
The Luxury Living Chicago Realty sales team‘s median sale price is higher than the city wide number, with an our average sale price coming in at $529,000 for the month of August 2016. This is because we specialize in downtown Chicago condos for sale.
Read the full Chicago home sale report here.