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Gold Coast Takes Top Spot For Nabe With Priciest Home Sales

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Surprise: high end homes are hot in the Gold Coast. Luxury home sales have been up throughout the country, particular on the east and west coasts according to MLS listing site Redfin who has recently released their 2014 Luxury Report. Sales of the priciest 1% of homes in Chicago have been up over 9% over last year, however, the sale of the remaining 99% of homes has actually dropped 8.6%. Of all the homes in the super high end category in Chicago, over a quarter have been purchased with cash. So where are folks buying these super high end homes? The top neighborhoods that have seen the most 1% luxury home sales in the last year are the Gold Coast, Streeterville and Lincoln Park. The new report appears to match up with a previous report that utilized census data to create a list of the wealthiest nabes in Chicago.

·2014 Luxury Report: Sales of Priciest 1% of Homes Climb While Rest of Home Sales Still Down [Redfin]