Recovering condo market helped boost December sales
CHICAGO – Propelled by strong condominium sales in Cook County, attached homes led the metro Chicago real estate market to its most active December since 2006, according to Re/Max.
Combined sales of attached and detached homes in the seven-county metro area were up 20 percent to 7,281 units when compared to the same month last year. Sales of attached homes rose 23 percent to 2,661 units.
The median sales price for all homes sold in December was 5.5 percent higher than in December 2011, reaching $153,000, while the median sales price for attached homes climbed 7.5 percent to $123,600. The average market time, which is the average number of days a home sold in December was on the market before a sales contract was signed, dipped to 138 days for all homes, down from 174 days in December 2011.
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