Forget a sea view mansion. CnnMoney.com reports in Hong Kong, parking spaces are some of the hottest properties on the market.

Hong Kong is a densely populated city and eager have pushed prices for parking spaces to record highs in recent months with prime spaces now selling for far more than the luxury cars that park in them.

In May, a single space in a residential neighborhood on Hong Kong Island went for 4.24 million Hong Kong dollars ($547,000), making it the most expensive parking space ever sold in the territory.

Knowing what mere parking spaces are selling for in Hong Kong certainly puts our own real estate market into perspective.

Take a look at September’s real estate sales statistics.

September 2014 Real Estate Market Update

Chicago Real Estate Sales – Detached Single Homes

The number of Chicago detached single homes selling in Sept 2014 decreased 4.1% for the month compared to Sept 2013. The average selling price increased by 14.1% to $854,987 and the average market time decreased by 6 days. Homes sold for 97% of the listed price.

Neighborhoods included in these statistics are: Avondale, Albany Park, Edgewater, Irving Park, Lakeview, Lincoln Park, Lincoln Square, Logan Square, Loop, Near North Side, Near South Side, Near West Side, North Park, North Center, Rogers Park, Uptown, West Ridge, West Town.

Date

Sold Listings

Average Sold Price

SP:LP

Average Market Time

Sept 2014

185

$854,987

97%

56

Sept 2013

193

$749,208

96%

62

Chicago Real Estate Sales – Attached Single Homes

The number of Chicago attached single homes selling in Sept 2014 decreased by 6.7% for the month when compared to Sept 2013. The average selling price increased 7.7% to $393,425 and the average market time increased by 5 days. Homes sold for 98% of the listed price.

Date

Sold Listings

Average Sold Price

SP:LP

Average Market Time

Sept 2014

1,114

$393,425

98%

66

Sept 2013

1,195

$368,816

96%

61

Chicago Real Estate Sales – 2-4 Flats

The number of Chicago multi-family properties selling in Sept 2014 increased by 9.7% from Sept 2013. The average selling price increased 19% from Sept 2013 prices, and the average market time decreased by 11 days. Homes sold for 96% of the listed price.

Date

Sold Listings

Average Sold Price

SP:LP

Average Market Time

Sept 2014

124

$509,349

96%

87

Sept 2013

113

$427,937

96%

76

Curious about the value of your home? Get your home’s value here!

Information courtesy of Chicago Realtor Karen Breen Elia.