It’s well known that Chicago lags the coasts when it comes to real estate trends, so an article in last month’s New York Times about the strong performance of Manhattan’s luxury market in 2010 is reason to be hopeful about our prospects in the Windy City. But local market data is still a mixed bag.
Months Supply of Inventory fell 30%, year over year, from January 2010 to January 2011 (a positive sign); however, we have yet to see the broad price recovery everyone is hoping for. The median sales price for $1,000,000+ homes in the city is down 4.8% year over year. This underscores the importance of a luxury marketing program that will help your home stand out in a crowd.
At @properties, we leverage print and online advertising, direct mail, e-mail marketing, high-visibility signage, broker marketing and more to sell your home. We also feature luxury listings front and center on the @properties website in our Luxury Collection Online Magazine. This digital publication features dozens of pages of spectacular homes – each with professional photography and a link to detailed listing information on the @properties web site. See the latest edition now at www.atproperties.com.
Did You Know?
@properties finished 2010 with the highest overall market share in the city of Chicago (our second consecutive year in the top spot), but did you know that @properties was also #1 in luxury sales?
|#1 in Market Share:||13.04%|
|#1 in Luxury Sales:||13.98%|
|#1 in Selling Price to Original Listing Price:||94.3%|
|#1 in Fastest Average Market Time:||142 Days|
For more information on our luxury brokerage services for buyers and sellers, please contact me. Also, please keep me in mind if someone you know is buying or selling a home. I appreciate your business and referrals.
Source: MSI, market share and market performance statistics supplied by BrokerMetrics based on sales data from Midwest Real Estate Data LLC, 1/1/10 – 12/31/10 and 1/1/10 vs. 1/1/11.