Chicago-area sales volume, prices up sharply year-over-year

Chicago-area sales volume increased 21% year-over-year in January 2014 and the median sales price increased 17%, to $175,000 according to RealtyTrac‘s just-released January 2014 Residential and Foreclosure Sales Report.

Annualized sales volume in January was 170,394 homes. Institutional investors accounted for 7.6% of the sales. Nearly 46% of January sales were all cash. Short sales accounted for 9.7% of the market, lender-owned properties for 17.4% and foreclosure auctions for 1.6%.

The full report is available at RealtyTrac.

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