How’s the Market?

The 2016 real estate market is off to a solid start in the Chicago area, especially in the luxury sector. Sales volume for homes sold at or above $1 million increased by 8.8% in the first quarter of this year.  Days on Market has also dropped slightly, from 123 days in 2015 to 116 days in 2016.  For a comprehensive overview of how the market performed last quarter, as well as the latest on interest rates, click here.

Luxury Market Stats Q1 2016
Source: MRED MLS; Closed Volume, Attached and Detached

For home buyers and home sellers in the western suburbs, please see below charts. These graphs illustrate median sale prices for detached, luxury, single-family homes in Hinsdale and Clarendon Hills, as well as Burr Ridge, Oak Brook and Western Springs.

Hinsdale and Clarendon Hills

Burr Ridge, Oak Brook and Western Springs

As always, if you have any questions about how the current real estate market impacts the sale of your home, please feel free to reach out to the McCleary Group here.

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