Chicago’s Luxury Housing Market is Heating Up

Chicago has one of the busiest luxury housing markets in the country, according to the new Luxury Market Report.

In 2015, Previews reported, sales of homes priced $1 million and above totaled 1,149 in Chicago. That was a 12 percent increase over 2014, and was the seventh-highest increase in the nation; as of Feb. 2016, there were 735 active listings in Chicago priced $1 million or above.

Below are Previews’ rankings for luxury markets with the largest sales increases:

Metro Area YOY Increase in $1M+ Sales in 2015 Luxury Sales – 2015
Austin 32% 694
Fort Lauderdale 31% 789
Seattle 30% 979
Atlanta 21% 1,140
San Diego 19% 1,165
Dallas 13% 848
Chicago 12% 1,149
Naples 12% 1,135
Newport Beach 11% 678
Santa Barbara 11% 744

(Source: Chicago Agent Magazine)