Highland Park was Chicagoland’s top luxury housing market in the second quarter, according to new research from Redfin.
Within Highland Park’s luxury market, the average sales price was $2.16 million in Q2, a 41.2 percent increase over Q2 2015; that dwarfed the rest of the market, where sales prices rose 15.4 percent to $578,000.
There were other Chicagoland markets where luxury prices rose aggressively – in Barrington and Hoffman Estates, for instance, luxury prices were up 40.5 and 30.4 percent, respectively – but in many other markets, luxury housing performed worse than the rest of the market.
Notable examples include:
- Buffalo Grove, where luxury prices fell 10.7 percent (compared to a 5.6 percent gain for the rest of the market)
- Crystal Lake, where luxury prices fell 14.6 percent (compared to a 5.5 percent gain)
- Evanston, where luxury prices fell 11 percent (compared to a 1.9 percent gain)
- Geneva, where luxury prices fell 16.6 percent (compared to a 3.4 percent gain)
- And Park Ridge, where luxury prices fell 32.9 percent (compared to a 0.7 percent drop)
See our charts below for more information on both Chicagoland’s top luxury markets and all the markets we have data for:
Top 10 Luxury Markets
| City | Avg Luxury Sales Price | YOY Change | Avg Sale Price – Rest of Market | YOY Change |
|---|---|---|---|---|
| Highland Park | $2,160,000 | 41.2% | $578,000 | 15.4% |
| Barrington | $1,809,000 | 40.5% | $479,000 | 8.4% |
| Hoffman Estates | $656,000 | 30.4% | $260,000 | 17.1% |
| Hanover Park | $337,000 | 22.1% | $170,000 | 17.2% |
| Sycamore | $461,000 | 22.0% | $175,000 | 8.7% |
| Woodstock | $560,000 | 21.7% | $187,000 | 3.9% |
| Algonquin | $482,000 | 18.7% | $239,000 | 13.8% |
| Oak Forest | $296,000 | 15.6% | $148,000 | 5.0% |
| Des Plaines | $496,000 | 11.7% | $202,000 | 5.8% |
| Woodridge | $567,000 | 10.5% | $247,000 | 15.4% |
All Chicagoland Markets
| City | Avg Luxury Sales Price | YOY Change | Avg Sale Price – Rest of Market | YOY Change |
|---|---|---|---|---|
| Algonquin | $482,000 | 18.7% | $239,000 | 13.8% |
| Arlington Heights | $770,000 | -6.0% | $312,000 | 2.3% |
| Aurora | $497,000 | 0.8% | $195,000 | 7.7% |
| Barrington | $1,809,000 | 40.5% | $479,000 | 8.4% |
| Bartlett | $493,000 | 5.3% | $250,000 | 7.8% |
| Batavia | $694,000 | -9.0% | $279,000 | -3.5% |
| Berwyn | $354,000 | -5.9% | $179,000 | 2.9% |
| Bolingbrook | $410,000 | 5.1% | $209,000 | 13.6% |
| Buffalo Grove | $681,000 | -10.7% | $284,000 | 5.6% |
| Chicago | $1,559,000 | 4.4% | $313,000 | 4.3% |
| Crystal Lake | $445,000 | -14.6% | $210,000 | 5.5% |
| Darien | $577,000 | -15.5% | $275,000 | -1.4% |
| Des Plaines | $496,000 | 11.7% | $202,000 | 5.8% |
| Elgin | $433,000 | 3.8% | $186,000 | 5.1% |
| Elk Grove Village | $478,000 | -7.4% | $229,000 | 4.1% |
| Elmhurst | $1,179,000 | 0.1% | $468,000 | 13.0% |
| Evanston | $1,440,000 | -11.0% | $376,000 | 1.9% |
| Frankfort | $724,000 | 0.3% | $321,000 | 3.2% |
| Geneva | $684,000 | -16.6% | $335,000 | 3.4% |
| Hanover Park | $337,000 | 22.1% | $170,000 | 17.2% |
| Highland Park | $2,160,000 | 41.2% | $578,000 | 15.4% |
| Hinsdale | $2,561,000 | -16.9% | $837,000 | -0.6% |
| Hoffman Estates | $656,000 | 30.4% | $260,000 | 17.1% |
| Huntley | $391,000 | 0.5% | $232,000 | 10.0% |
| Joliet | $323,000 | 5.9% | $157,000 | 12.1% |
| Lake Forest | $2,224,000 | -23.6% | $749,000 | -8.2% |
| Lockport | $431,000 | 0.5% | $212,000 | 5.0% |
| McHenry | $377,000 | 8.0% | $161,000 | 11.0% |
| Montgomery | $276,000 | 0.4% | $181,000 | 7.1% |
| Naperville | $1,023,000 | 4.8% | $356,000 | 1.4% |
| Oak Forest | $296,000 | 15.6% | $148,000 | 5.0% |
| Orland Park | $618,000 | 2.7% | $241,000 | 2.6% |
| Park Ridge | $940,000 | -32.9% | $419,000 | -0.7% |
| Plainfield | $492,000 | -13.8% | $231,000 | 2.2% |
| Rockford | $257,000 | -4.1% | $80,000 | 9.6% |
| Rolling Meadows | $507,000 | -14.9% | $206,000 | 1.5% |
| Roselle | $563,000 | 5.6% | $253,000 | 16.6% |
| Schaumburg | $517,000 | -3.4% | $217,000 | 4.8% |
| St. Charles | $1,008,000 | 2.1% | $320,000 | 7.4% |
| Sycamore | $461,000 | 22.0% | $175,000 | 8.7% |
| Tinley Park | $389,000 | -4.2% | $190,000 | 0.5% |
| Waukegan | $550,000 | -6.9% | $114,000 | 8.6% |
| West Chicago | $498,000 | -1.0% | $233,000 | 22.0% |
| Wheaton | $823,000 | -5.7% | $317,000 | -1.2% |
| Wheeling | $442,000 | 7.3% | $186,000 | 10.1% |
| Woodridge | $567,000 | 10.5% | $247,000 | 15.4% |
| Woodstock | $560,000 | 21.7% | $187,000 | 3.9% |
| Yorkville | $595,000 | -12.8% | $220,000 | 3.8% |
Photo Credit: Teemu008, Creative Commons Attribution-Share Alike 2.0 Generic, https://commons.wikimedia.org/wiki/File:423_Hazel_Avenue_(8674136366).jpg