2006 Condo Sales Are Second Highest on Record
The numbers are out and they look good for the local condominium market. Second only to units sold in 2005, last year saw the highest level of condo sales ever recorded for Illinois. The number of units sold reached 52,787 at the close of 2006, according to the Illinois Association of Realtors®.
The fourth quarter 2006 median sales price for condos inIllinoisrose 3.4 percent from a year earlier to $212,500. Reports for the entire year show a 4.6 percent increase statewide from 2005 to a median sales price of $214,368.
The fourth quarter 2006 median sales price for condos in the Chicagoland PMSA increased 3.3 percent from a year earlier to $217,000. The total year median price also went up 4.3 percent to $218,900.