August 19, 2014
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Monthly Market Update (Click to Play)
More great news for late summer 2014…The Median Chicago North Shore Sales Price in July was up 2.1% from market action reporting in July of 2013 and down -0.9% from sales figures reported last month. The Average Sales Price in July was up 6.3% from totals calculated in July of 2013 and down -2.0% from last month. July 2014 ASP was at highest level compared to July of 2013 and 2012.
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 Buyer’s market, a downward trend a move towards more of a Seller’s market. The DOM for July was 40, down -20.0% from 50 days last month and down -27.3% from 55 days in July of last year. The July 2014 DOM was at its lowest level compared with July of 2013 and 2012.
July Chicago-North Shore Property sales were down -11.9% from totals in July of 2013 and -5.1% lower than sales totals last month. July 2014 sales were at a mid-level compared to July of 2013 and 2012. July YTD sales are running -12.0% behind last year’s year-to-date sales.
Inventory & MSI
The Total Inventory of Northern Shore Properties available for sale as of July was up 2.6% from last month and up 6.6% from July of last year. July 2014 Inventory was at a mid-range compared to July of 2013 and 2012.
A comparatively lower MSI is more beneficial for North Shore sellers while a higher MSI is better for North Shore buyers. The July 2014 MSI of 3.8 months was at a mi- range compared with July of 2013 and 2012.
Inventory / New Listings / Sales
This summary view below of the North Shore-Chicago 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 North Shore Listings in July 2014 was down -14.1% from market action reporting total last month and up 3.3% from figures in July of last year.
With over 25 years of the highest quality North Shore real estate service, a sincere and client focused approach to making North Shore real estate dreams come true, Gloria Matlin is the ideal professional you want representing you. Her consummate professionalism, kind nature, tenacious and profoundly knowledgeable style will ensure you can make confident real estate decisions. Whether relocating, downsizing, upsizing, investing, or simply inquiring, she is the trusted resource with a keen and accurate pulse on the current Chicago North Shore real estate market. Her office is located at 640 Vernon Avenue, Glencoe, Illinois, 60022-Coldwell Banker Residential Real Estate.
August 8, 2014
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Interest rates are low, employment is rising, home prices—in most markets—are still well below their peaks, and rents are on the upward climb. Buying a house is a highly individual decision—and a local one—but current trends are creating a favorable situation for many would-be North Shore Chicago homeowners.
Every family and each individual has various factors affecting the ability and the decision to buy a home. See reasons below that help support why it might make sense to buy a house, right now.
- Interest Rates Are Still Low
Mortgage interest rates are still low—for now. A 30-year-fixed-rate loan now averages 4.16%, according to Freddie Mac, but many economists believe we will see 5% rates next year. As interest rates increase, so do your monthly payments.
- Home Prices Are Going Up
The median price of an existing home was 4.3% higher than June 2013. That’s the 28th consecutive month of year-over-year price gains, and economists expect that trend to continue. However, we are still at least 20% off the peak prices of 2006. Bottom line, home prices are on the rise.
**Important Tip to Remember: You might get lucky one or two times, but overall, timing the market does not work. It all points to purchasing power, and that’s a reflection of price and interest rates, which will both be higher in the future….No time like the present. More information HERE.
Experience, grace, tenacity, top-tier performer, high-ranking results, client focused, trusted resource, 25+ years of Chicago-North Shore community insight, marketing savvy, technology savvy…A few words and phrases to describe real estate professional Gloria Matlin. For an online introduction and feedback from her clients visit HERE and HERE.
July 31, 2014
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North Shore Chicago experiences a real estate summer surge, just in time for August 2014 — Home prices continued to climb and marked the 22nd consecutive month of annual increases, according to recent market action reporting from the Illinois Association of REALTORS®. Illinois home sales reversed course in June with statewide home sales experiencing a slight year-over-year gain for the first time this year.
Within the Chicago North Shore region and throughout the state, home sales are thriving; a concrete sign of a strengthening real estate market. Inventory is rising in several North Shore areas. Activity is picking up in the upper price tiers. Rents continue to climb in most metros. And interest rates are overall lower than a year ago. New Listings in the North Shore-Barrington region increased 21.0% to 1,522. Inventory levels rose 9.1 percent to 3,479 units. The Median Sales Price increased 1.5%. Market Times were down 27.8% percent to 81 days. The uptick in demand continues to challenge home supply. North Shore buyers are finding the home they want and in a shorter amount of time. Both Seller as well as buyer are in strong positions this summer season. Information provided and supported by Midwest Real Estate Data LLC and The North Shore-Barrington Association of Realtors (Click to Enlarge):
The monthly average commitment rate for a 30-year, fixed-rate mortgage for the North Central – Chicago North Shore region was 4.17 percent in June 2014, down from 4.18 percent in May, according to the Federal Home Loan Mortgage Corp. In June 2013 it averaged 4.09 percent.
According to Geoffrey J.D. Hewings, Director of the Regional Economics Applications Laboratory of the University of Illinois – “The volume of sales over the next three months (July, August and September) is forecast to match those recorded in 2013. In addition, median prices are continuing to climb while the REAL Housing Price Index suggests a slightly more optimistic growth rate when housing characteristics are taken into account,” noted Forty-three (43) of 102 counties in Illinois showed annual home sales increases in June 2014. Fifty-five (55) counties showed year-over-year median price increases including Cook, up 6.7%.
Sales and price information is generated by Multiple Listing Service closed sales reported by 30 participating Illinois REALTOR® local boards and associations including Midwest Real Estate Data LLC data as of July 7, 2014 for the period June 1 through June 30, 2014 and continuing monitoring through August of 2014. 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.
The Illinois Association of REALTORS® is a voluntary trade association whose 41,000 members are engaged in all facets of the real estate industry. Find Illinois housing stats, data and the University of Illinois REAL forecast atwww.illinoisrealtor.org/marketstats.
July 28, 2014
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The 2014 summer continues with award winning top tier real estate service, high ranking, top producing, optimally performing results; all done with a personalized approach at making North Shore real estate dreams a reality. Look to Gloria Matlin for seasoned experience that spans 25+ years, and a broad grasp of Northern Shore real estate trends within communities such as Glencoe, Winnetka, Wilmette, Northbrook, and Highland Park. Her home base office can be found at the coveted Coldwell Banker Residential real estate office of Glencoe, Illinois-640 Vernon Avenue, 60022.
Originally posted on Sarah Sitar Remodeling and Interior Design:
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July 18, 2014
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Summer 2014 North Shore – Chicago real estate figures surge with the average Days On Market (DOM) showing 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 Buyer’s market, a downward trend a move towards more of a Seller’s market. The DOM for June was 50, down -5.7% from 53 days last month and down -27.5% from 69 days in June of last year. The June 2014 DOM was at its lowest level compared with June of 2013 and 2012.
Selling Price vs Listing Price
The North Shore Selling Price vs Listing Price reveals the average amount that Sellers are agreeing to come down from their list price. The lower the ratio is below 100% the more of a North Shore Buyer’s market exists, a ratio at or above 100% indicates more of a North Shore Seller’s market. The June 2014 Selling Price vs List Price of 96.6% was up from 96.3% last month and up from 96.4% in June of last year.
June North Shore Property sales were down -10.8% from calculated real estate totals in June of 2013 and 30.9% higher than real estate sales last month. June 2014 sales were at a mid-level compared to June of 2013 and 2012. June YTD sales of 1,651 are running -12.2% behind last year’s year-to-date sales of 1,880.
The Median Chicago-North Shore Sales Price in June was down -1.7% from real estate volume totals in June of 2013 and down -5.7% from last month. The Average Sales Price in June was up 0.1% from final outcomes June of 2013 and down -3.5% from last month. June 2014 ASP was at highest level compared to June of 2013 and 2012.
Inventory & MSI
The Total Inventory of Properties available for sale as of June was up 6.8% compared to last month and up 5.2% from June of last year. June 2014 Inventory was at a mi- range compared to June of 2013 and 2012.
A comparatively lower MSI is more beneficial for North Shore sellers while a higher MSI is better for North Shore buyers. The June 2014 MSI of 3.5 months was at a mid-range compared with June of 2013 and 2012.
Ongoing top tier performance, exemplary, personable service, a comprehensive approach to client needs, over 25 years of dedicated real estate expertise, an accurate pulse on North Shore real estate trends/market conditions, marketing savvy, and a profound appreciation for technology as well as informative engagement on social media; Gloria Matlin is the consummate real estate professional on the Northern Shores of Chicago. She can be found in the top producing Coldwell Banker residential real estate office of Glencoe, Illnois-640 Vernon Ave., 60022.
July 7, 2014
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While several Chicago North Shore homes may be sold each week, the process may not be as easy for sellers as it was five or 10 years ago. Surviving in today’s real estate world requires experience and training in such fields as real estate marketing, relocation savvy, financing options, negotiating and closing, the very expertise available from local North Shore-Chicago real estate professionals. Millions of existing homes are sold each year and, while each transaction is different, every owner wants the same thing: the best possible deal with the least amount of hassle and aggravation.
Are You Ready?
The home-selling process typically starts several months before a property is made available for sale. It’s necessary to look at a home through the eyes of a prospective buyer and determine what needs to be cleaned, painted, repaired and tossed out.
Ask yourself: If you were buying this home, what would you want to see? The goal is to show a home that looks good, maximizes space and attracts as many buyers as possible.
When Should You Sell?
As with several locations across the country the North Shore Chicago marketplace tends to be active in the summer because parents and/or young adults want to enroll in classes at the beginning of the school year (usually in August). Summer is also typically when most homes are likely to be available.
Generally speaking, markets tend to have some balance between buyers and sellers year-round. For example, a given North Shore community may have fewer buyers in late December, but it’s also likely to have fewer homes available for purchase. As a result, home prices tend to rise or fall due to general patterns of supply and demand, rather than the time of year. Look to a skilled, North Shore Real Estate professional can be a sound decision to assess local real estate market activity and trends. More information can be found HERE
From providing an in-depth view of luxury North Shore-Chicago real estate markets in 2014, to examining and providing an accurate seasonal gauge on North Shore’s rental trends; Gloria Matlin continues to be a North Suburban real estate expert with an unparalleled record of top producing, high-ranking accomplishments that span 25+ years. Her keen awareness of the Northern Shore communities is what makes her an elite high performing professional with a sincere and personalized style that she offers each and every client. Gloria Matlin educates, tenaciously performs and makes Chicago North Shore real estate dreams a pleasant reality!
July 4, 2014
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North Shore Chicago real estate is an ideal topic, but for holiday sake, so is the 4th of July on Chicago’s North Shore! This year’s July 4th holiday falls on a Friday, which makes the celebration that much sweeter, with ongoing celebrations well into the weekend.Local North Shore sights, sounds and events are boundless options this holiday. Below are top rated ways to celebrate Independence Day, as well as a list of North Shore community things to do, places to go and events to experience..Enjoy!
Find a Fireworks Show
Instead of driving neighbors and dogs crazy this year with at-home fireworks, attend a public display.
July 4th Events/Fireworks Shows for Glencoe, Winnetka, and Northfield:
North Suburban and Chicago holiday events:
Shop ‘Til You Drop
There’s no better time to shop than on the 4th of July when Chicago North Shore retailers offer firework-worthy sales and other merchandise incentives; one of the best ways to avoid a battle with the crowd at the mall or outlet center:
Local shopping options
Plan a Cook-out or Picnic
Take your family or significant other on a picnic, by a lake or at the park near your home. Prepare your own finger foods and side dishes with traditional 4th of July grub. Download a few printable games to pump up the fun, which may include Independence Day trivia and a scavenger hunt for the kids.
Organize a fun day of softball at a local field or park with family and friends. Assign blue and red (or white) teams and request that members wear the appropriate colors. Otherwise, pick up some cheap tees, pack a cooler with beverages, sandwiches and snacks, and let the games begin!
Parks and recreation options
More info HERE