Based on statistics pulled from the Multiple Listing Service of Northern Illinois (MLSNI), sales of condo units in Chicago were down 11% in 2006.
Appreciation, based on citywide median sales price, was up, but by only 0.3%, compared to 12% in 2005. The 2006 median sales price was $277,900, or $265 per square foot.
The least expensive condo sold for $10,000; the most expensive for $8.3 million. Condos continue to account for 58% of residential sales in the city.
For details: see our updated Market Overview.
Source: Ric Cox, President & CEO www.chicagocondosonline.com
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