The city of Chicago saw a 32.2 percent year-over-year sales increase of single family homes and condos in January, according to a new report.
In 2013, there were 1,485 sales in January in the city compared to 1,123 in January 2012, according to the report released Thursday by the Illinois Association of Realtors.
The city condo market jumped with a sales increase of 29.7 percent to 829 units sold in January 2013, the report said.
The median price of a home in the city of Chicago in January 2013 was $159,000. That's up 7.4 percent from January 2012.
The median price of a condo rose to $202,500, up 8.7 percent from January of last year, said Morris, the operating principal of Keller Williams Realty.
"The condo market's slow revival shows a steady but measured improvement that we will continue to watch as an indicator for the greater health of the city’s housing marketplace in 2013,” he said.
In the nine-county Chicago area home sales in January 2013, 6,244 homes sold, up 36.8 percent from January 2012 sales of 4,564 homes.
The median price in January 2013 was $141,000 in the Chicago area, up 0.7 percent from $140,000 in January 2012, the Realtor report said.