Luxury is back – and in a big way.
Sales of homes priced at $1 million or more in the Chicago area jumped 33 percent in 2013 from the year before, according to a recent Chicago Magazine article. The increase was spurred along by the improving housing market and economy, as well as ultra-low jumbo mortgage rates. But the sentiment among many luxury homebuyers and most brokers is that luxury inventory is still tight. So if you’ve been thinking about listing your luxury home, now is a great time to do so.