Press Release: RE/MAX Northern Illinois : RE/MAX Luxury Report on Metro Chicago Real Estate: $1 Million-Plus Housing Market Strengthened in 2017; Sales Gained While Inventory Fell

The market for $1-million-plus homes in the seven-county metropolitan Chicago area showed solid improvement in 2017. According to the year-end edition of the RE/MAX Luxury Report on Metro Chicago Real Estate, sales rose 9.7 percent to 2,658 homes, while inventory levels moderated, falling 15.3 percent. The median sales price for the full year slipped 1.9 percent to $1.3 million, and the average time that a luxury home sold in 2017 spent on the market was 169 days, four days longer than in 2016