The market for luxury homes around Chicago continues to show signs of strength. One of the most recent closings in the region was for a Hinsdale mansion that sold for $5.2 million.
The mansion now holds the record for the most expensive home ever sold in Hinsdale. The neighborhood has seen a rapid increase in home values during the past five years. The average sales price for homes in Hinsdale stood at $789,000 during the third quarter in 2003, according to data from the Chicago Association of Realtors.
However, this number shot up to $1.19 million during the third quarter in 2007. The rise in prices in the area has led to a drop in sales, as many buyers have been forced out of the market by high prices. Sales during the third quarter were down by 14 percent from the same period in 2006.
However, the luxury market is staying strong in the area as homes sell for record prices. Browse through the best Chicago Homes For Sale today and find the home of your dreams in Hinsdale and other markets around the greater Chicagoland region.
Technorati Tags: Chicago Homes For Sale, Hinsdale Mansion, Chicago Real Estate
