Hinsdale and Chicago-Area Luxury Housing Market Has Active Year

By Amie Schaenzer | Patch Editor
Photo Caption: A home at 900 S Elm St., Hinsdale, is currently selling for $7.4 million. Photo Credit: Zillow.com

When it comes to luxury homes selling over the $1 million mark, the Chicago-area real estate market has seen a marked improvement compared to last year.

Between January and September of 2014, 1,675 units were sold in the seven-county Chicago metro Chicago area, which was an increase of 8 percent compared to the same time period last year. The median sales price was $1,340,000, which was up 3 percent, according to a Re/MAX press release.

• Follow Hinsdale-Clarendon Hills Patch on Facebook

The suburbs saw a 3 percent increase in luxury home sales and the median sales price was up by 3 percent to $1,300,000. In addition, the average time the luxury home sat on the market dropped by 16 percent to 150 days.

Meanwhile, in Naperville, 28 luxury homes sold so far this year at a median sales price of $1,188,500. Naperville was among the most active markets for luxury homes in the Chicago suburbs, according to Re/MAX.

The most active suburban market for luxury homes was Winnetka where 121 homes sold for at least $1 million, which is a 15 percent increase over last year. The median sales price for those homes was $1,440,000.

Here is a look at some of the other active real estate markets for luxury homes in the Chicago suburbs:

• Wilmette: 94 home sales at median sales price of $1,307,500
• Hinsdale: 93 home sales with median sales price of $1,505,000
• Lake forest: 73 home sales with median price of $1,350,000
• Glenview: 58 sales at a median price of $1,184,000
• Glencoe: 51 sales at a median price of $1,475,000
• Barrington area: 35 sales with a median price of $1,370,000
• Highland Park: 29 sales at a median price of $1,210,000

» Subscribe to our FREE Patch email newsletters in DuPage County: NAPERVILLE • ELMHURST • WHEATON • DOWNERS GROVE • GLEN ELLYN •WOODRIDGE • LISLE • DARIEN • HINSDALE-CLARENDON HILLS