November 30, 2013
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The Chicago North Shore real estate housing market saw October home sale increases by 3.7 percent over previous-year levels, as well as a median prices rise of 13.8 percent based on the recent real estate action reporting by the Illinois Association of REALTORS®.
The profound North Shore demand for housing has progressively reduced the rate of home inventory. Despite this fact, North Shore buyers and sellers remain enthusiastic about investment factors such as low interest rates and ideal price points well into December 2013. Specifically, sellers appear to appreciate the increased worth on their long long-term investment with the ongoing robust gains in North Shore sales. More homes sold in less time for closer to asking price. New Listings in the North Shore-Barrington region increased 10.3%. Listings Under Contract were up 20.6%. Inventory levels shrank 22.2%. The monthly average commitment rate for a 30-year, fixed-rate mortgage for the North Central – North Shore region was 4.20 percent in October 2013, down from 4.50 percent in September, according to the Federal Home Loan Mortgage Corp. In October 2012 it averaged 3.36 percent. Information provided and supported by the North Shore-Barrington Association of Realtors and Midwest Real Estate Data. See the summary images below (click to enlarge):
Overall, the stated saw absorption of distressed properties as many are being rehabbed and/or resold. The sign of increased interest in the market and the benefit of additional value added to the communities the properties reside in. The statewide inventory of available homes for sale totaled 66,433 units in October, down 18.3 percent compared to 81,281 last year.
Forty-eight (48) of 102 Illinois counties reporting to IAR (Illinois Association of Realtors) showed annual home sales increases in October 2013. Forty-eight (48) counties showed year-over-year median price increases including North Shore- Chicago Cook, up 17%. The city of Chicago saw a 7.5% percent year-over-year home sales increase in October 2013 with 2,231 sales, up from 2,076 in October 2012.
Sales and price information is generated by Multiple Listing Service closed sales reported by 31 participating Illinois REALTOR® local boards and associations including Midwest Real Estate Data LLC data as of Nov. 7, 2013 for the period Oct. 1 through Oct. 31, 2013, and will continue into December 2013. The Chicago PMSA, as defined by the U.S. Census Bureau, includes the counties of Cook, DeKalb, DuPage, Grundy, Kane, Kendall, Lake, McHenry and Will.
Find Illinois housing stats, data and the University of Illinois REAL forecast atwww.illinoisrealtor.org/marketstats.
November 18, 2013
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North Shore-Chicago October 2013 Property sales were UP 13.8% compared to market action report data released in October of 2012 and -11.6% lower than sales figures calculated last month. October 2013 sales were at their highest level compared to October of 2012 and 2011. October YTD sales are running 26.0% ahead of last year’s year-to-date sales volume totals.
The Median Northern Shore-Chicago Sales Price in October 2013 was up 14.3% compared to figures in October of 2012 and down -10.3% from last month. The Average North Shore Sales Price in October was up 14.9% from sales totals in October of 2012 and down -5.9% from last month. October 2013 ASP was at highest level compared to October of 2012 and 2011.
Inventory & MSI
The Total Inventory of Chicago-North Shore Properties available for sale as of October was down -10.6% from reporting totals last month and down -27.5% from totals in October of last year. October 2013 Inventory was at the lowest level compared to October of 2012 and 2011.
A comparatively lower MSI is more beneficial for North Shore sellers while a higher MSI is better for North Shore buyers. The October 2013 MSI of 4.0 months was at its lowest level compared with October of 2012 and 2011.
The average North Shore Days on Market (DOM) shows how many days the average North Shore Property is on the Market before it sells. An upward trend in DOM tends to indicate a move towards more of a North Shore Buyer’s market, a downward trend a move towards more of a North Shore Seller’s market. The DOM for October was up 17.9% from 56 days last month down -25.0% compared to October of last year. The October 2013 DOM was at its lowest level compared with October of 2012 and 2011.
Inventory / New Listings / Sales
The North Shore-Chicago view of the market combines monthly inventory of Properties for sale along with New Listings and Sales. The graph shows the basic annual seasonality of the market as well as the relationship between these items. The number of New Listings in October 2013 was down -22.5% from market reporting totals last month and up 4.5% from figures in October of last year.
Consistent producer in the top 1% of agents in the nation. Ranking in the top tier of North Shore Chicago Realtors for over three decades. A relocation expert with a keen sense of marketing, promotion, technology, real estate conditions along with community involvement and area insight. A trusted resource providing the highest level service with tenacity, grace, and a focused /sincere attention to detail. Gloria Matlin embodies these descriptive phrases and more. She can be found in the high performing Coldwell Banker Residential Real Estate office, 640 Vernon Avenue, Glencoe, Ilinois-60022.
November 8, 2013
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The time is almost here! Relatives, friends, neighbors, coworkers, acquaintances, all potentially gathering in your Chicago North Shore home for the holidays. Commonly, the appropriate gesture is to get or give a gift. For those planning to list their North Shore home in the months of November, December, even January, your house becomes the gift! As silly as it may seem, you’re presenting a rather large gift to potential buyers. One of the first things to attract attention is the overall packaging. The goal: First impressions mean everything. You want buyers to take in the scene and say “this is it, this is the house!” The plan: 6 Curb appeal tips that get you ready for your North Shore holiday festivities, which will make all of your guests (including potential buyers), say “WOW”:
1. A Tidy Lawn- Whether there is snow covering your lawn or not; be sure to keep your lawn free from any leaves, twigs, etc… that may have blown through with the harsher winds. Just because your North Shore lawn is not expected to be as lush as the summer months, doesn’t mean to ignore the state of its appearance. Keeping it cleaned up will show thorough care.
2. Winter Weather Greenery- Hearty plants and Evergreen trees, appropriate for season can withstand the winter months while adding huge visual appeal to the outside of your North Shore home. Evergreen Holly will add a splash of color with its red berries and can stand up to the cold weather.
3. Refined Decorations and Lighting- While you can have fun with the season’s bright lights and characters of the holidays, it can be easy for some to get carried away. Try small white lights around your North Shore homes’ bushes or front porch post, a simple wreath and garland to enhance your home’s appearance without being overly distracting. The use of lights can really make your home stand out with the shorter winter days. Since there is more time without the suns rays, using a variety of lighting can give your home a warm and inviting glow. Indoor window lights in each room provides a comforting appeal, while lights along the pathway up to your home, a bright porch light and tasteful holiday lights are all huge but not too fussy ways in which to enhance your North Shore homes’ curb appeal.
4. Remember Safety- You may have friends and family planning to visit soon, so you’ll want to put safety at the top of the list! Be sure your driveway, sidewalk and front porch are cleared of debris, ice or any snow. It’s always better to be on the cautious side and put down salt, as even rain can freeze and make walking up to your home dangerous.
5. Touch Up Paint- Your North Shore home is more visible in the winter months as trees are free from their leaves and your home’s condition is more exposed. Touching up chipped or faded paint is a great way to help your Chicago Northern Shore home look refreshed.
6. Clear Gutters- It’s not too late to make sure your gutters are free from leaves and other debris. You’ll want these cleared so that melting snow or rain that can easily run through the gutters will not cause damage. More information HERE
Have a happy, safe, and prosperous pre-holiday season. This time of year is beautiful on Chicago’s North Shore. The sparkling lights and presence of well-manicured North Suburban homes bring a warmth and charm to this already distinct area. Feel free to stop into the top performing Glencoe Coldwell Banker Residential Real Estate office for information on upcoming holiday events, things to do, places to go or community/real estate market performance reports for the North Shore communities. 640 Vernon Avenue, Glencoe, Illinois, 60022; in the heart of the downtown village district.
October 31, 2013
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Chicago North Shore-Chicago recent housing figures show huge momentum in the start of the fall 2013 market! September Illinois home sales increased 19.8 percent over previous-year levels and median prices rose 12.9 percent, according to the market action data supplied by the Illinois Association of REALTORS®.
Statewide home sales including the Northern Shores of Chicago (including single-family homes and condominiums) in September 2013 totaled 13,018 homes sold, up from 10,866 in September 2012. It was the strongest September in terms of sales since 2006, when 13,594 homes sold statewide.
The start of autumn confirmed that North Shore home buyers were not daunted by the slight increase in mortgage rates or the federal government shutdown. The Chicago North Shore home sale figures show a robust end of one season and the high probability of an outstanding final quarter for 2013. Within the month of September 2013 on the North Shore, New Listings in the region increased 24%. Listings Under Contract were up 17.1%. Inventory levels shrank 23.4%. There’s increasing evidence that it’s not just first-time home buyers fueling the North Shore real estate market. Move-up buyers are also making their presence known. In addition Some baby-boomers are ready to look for less space. Lastly there’s a fresh crop of buyers entering the market looking to establish roots as newly married and/or starting families. Information provided by the North Shore Barrington Association of Realtors and MRED. See summary images below (click to enlarge):
The monthly average commitment rate for a 30-year, fixed-rate mortgage for the Chicago North Shore-North Central region was 4.50 percent in September 2013, up from 4.44 percent in August, according to the Federal Home Loan Mortgage Corp. In September 2012 it averaged 3.49 percent (click to enlarge):
Fifty-three (53) of 102 Illinois counties reporting to IAR showed year-over-year home sales increases in September 2013. Forty-nine (49) counties showed year-over-year median price increases including Chicago North Shore Cook, up 19 percent.
Sales and price information is generated by Multiple Listing Service closed sales reported by 31 participating Illinois REALTOR® local boards and associations including Midwest Real Estate Data LLC data as of Oct. 7, 2013 for the period Sept. 1 through Sept. 30, 2013, continuing into October 2013. The Chicago PMSA, as defined by the U.S. Census Bureau, includes the counties of Chicago North Shore Cook, DeKalb, DuPage, Grundy, Kane, Kendall, Lake, McHenry and Will.
Find Illinois housing stats, data and the University of Illinois REAL forecast at www.illinoisrealtor.org/marketstats.
With over 25 years of top performing, high producing real estate results, Gloria Matlin is the trusted Realtor resource for the North Shore of Chicago. Whether buying your first home, relocating to the North Shore area, or simply wanting more information on the state of the housing market, Gloria provides unparalleled personable service in each of these areas. She is located in the top ranking Coldwell Banker Residential real estate office of Glencoe, Illinois-640 Vernon Ave, 60022.
October 27, 2013
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Great tips for first time and even seasoned buyers looking to get back into the process. Investing in due diligence can save time and money in the long and short term.
Gloria Matlin, experienced North Shore Realtor, and consummate real estate professional is a top performing service oriented resource. Look to her for guidance on these and similar high ranking real estate tips for the North Shore region of Chicago.
October 17, 2013
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Ongoing progress…Chicago North Shore September Property sales were up 35.7% from market action report totals calculated in September of 2012 and -30.1% lower than sales last month. September 2013 North Shore sales were at their highest level compared to September of 2012 and 2011. September YTD sales ran 27.0% ahead of last year’s year-to-date sales outcomes.
The North Shore-Chicago Median Sales Price in September was up 11.1% from final sales volume amounts in September of 2012 and down -3.2% from data posted last month. The Average North Shore Sales Price in September was up 18.7% from totals in September of 2012 and down -3.1% from last month’s final data. September 2013 ASP was at highest level compared to September of 2012 and 2011.
Inventory & MSI
The total North Suburban-Chicago Inventory of Properties available for sale as of September was down -1.7% from totals last month and down -28.5% from inventory totals in September of last year. September 2013 Inventory was at the lowest level compared to September of 2012 and 2011.
A comparatively lower MSI is more beneficial for North Shore sellers while a higher MSI is better for North Shore buyers. The September 2013 MSI of 3.8 months was at its lowest level compared with September of 2012 and 2011.
The average North Shore-Chicago Days on Market (DOM) shows how many days the average North Shore property is on the market before it sells. An upward trend in DOM tends to indicate a move towards more of a North Shore buyer’s market, a downward trend a move towards more of a North Shore Seller’s market. The DOM for September was 56, up 12.0% from 50 days last month and down -34.9% from 86 days in September of last year. The September 2013 DOM was at its lowest level compared with September of 2012 and 2011.
Inventory / New Listings / Sales
The view above of the market combines monthly inventory data of properties for sale along with new North Shore listings and sales. The graph totals show the basic annual seasonality of the market as well as the relationship between these items. The number of New North Shore Listings in September 2013 was up 3.2% from last month and up 26.3% from final figures gathered in September of last year.
Recently ranking as one of the top producing North Shore real estate professionals for the 2nd quarter of 2013, Gloria Matlin sustains optimal performance with grace, tenacity and personalized service. Staying ahead of the market for over 25 years, look to her for feedback on this and similar market action reports. Gloria Matlin is located at the Glencoe, Illinois Coldwell Banker Residential real estate office, within the downtown village center-640 Vernon Avenue, 60022.