DOWNTOWN — The median sale price of a condo in the city was $324,000 in June, some 4.5 percent higher than a year ago, a new report finds.
The single-family home median price was $226,000 in June of 2015, up 7.6 percent from June of 2014.
The median price means half sold for more and half sold for less.
Sales were closed on 3,110 single-family homes and condos in June, up 9.3 percent from a year ago, according to the monthly report from the Illinois Association of Realtors.
Homes of both types in Chicago sold faster than a year ago: 41 days vs. 44 days.
A decrease in the number of days it takes, on average, to sell a home "shows that buyers are undeterred by the steady uptick in prices," Jim Kinney, a vice president with Baird & Warner in Chicago and president of the association, said in a statement.
Hugh Rider, president of the Chicago Association of Realtors, said median prices have risen steadily in the city since October of 2012. "Consumer interest remains keen," he said.
Looking at the state and Chicago metropolitan area, forecasts "indicate continuous steady growth" in median sales prices in July, August and September, according to a University of Illinois analysis.
Nationwide, sales of previously owned homes climbed to an eight-year high in June. "The housing market has picked up in recent months as more jobs, historically low mortgage rates, and greater family formation boost demand," according to Bloomberg Business.
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