2019 Shaping Up To Be Strong Year For Chicago Area's Luxury Home Market
The ultra-luxury home market is already on track for another strong year in the Chicago-area. So far this year the area has had 19 homes sell for at least $4 million. That’s compared to 11 uber-luxury homes that sold during the same time period last year. Some reports point to the trend of buyers who are in search of either freshly renovated homes or new homes.
Several newer construction, or recently renovated homes in the Gold Coast have sold this year. One sold for more than $11 million, while several others sold for at least $5 million.
If the trend continues, the high-end home market could be in line for another profitable, and potentially record-setting year. According to published reports, there were 73 homes in 2018 that sold for at least $4 million in the Chicago area, which set a record. Experts credited a strong stock market and options in high-end new construction.