Glencoe-North Shore Market Trends: Update September-October2014

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Ongoing Chicago North Shore real estate gains that give traction to the start of Autumn, as August 2014 rounded out a hot summer market with trends that were consistent for this year thus far. In short North Shore-Chicago buyers are eager to purchase, despite fewer homes in some North Shore markets. A shorter timeframe in the completion of sales, flourishing medium home prices, and attractive rates cater to both seller and buyer interests. New Listings in the North Shore-Barrington region increased 9.5%. Listings Under Contract were up 1.6%  to 700. Inventory levels rose 14.5%.  Prices continued to gain ground. The Median Sales Price increased 13.1%. Market Times were down 11.6%  to 84 days. More information HERE and HERE

1580 Sherwood-JustListed

1580 Sherwood Road in Highland Park. Click the image for more info.

Look to Gloria Matlin this fall for optimal service, as well as a sincere appreciation for helping each and every one of her clients realize their North Shore real estate dreams.  For over 25 years, Gloria has been a top-tier real estate professional, providing high-ranking performance results and dedicated client attention. From savvy real estate market analysis, to a well-rounded approach to marketing, Gloria Matlin is the ideal Realtor you want representing/guiding you through one of the most important transactions in a lifetime. Gloria is located at the top producing Coldwell Banker Residential Real Estate office of Glencoe, Illinois-640 Vernon Ave, 60022.

The Joys of Real Estate-Chicago North Shore

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Experience the Best...

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Gloria Matlin, the consummate real estate professional on the North Shore of Chicago, has joyfully serviced the Glencoe, Winnetka, Wilmette, Highland Park, Kenilworth, Northbrook, Deerfield, Northfield, Lincolnshire, Buffalo Grove, and Glenview communities for over 25+ years.  Gloria’s area of expertise includes a robust background in new construction and luxury residences. She enjoys helping clients create their North Shore real estate dreams from start to finish, whether the client is a first time buyer or an empty nester she lends her expertise every step of the way. She is also a Certified Relocation Specialist– “On The Go? Move With Glo” helping out of area buyers find the perfect place to call home. Representing sellers has always been her passion, creating the best marketing plan to fit each individual clients needs and helping the client get through what can be an emotional endeavor with ease.

Real Estate Outcomes August2014: Chicago’s North Shore

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Monthly Market Update (Click to Play)

Monthly Market Update (Click to Play)

Prices

The Chicago North Shore real estate market continues on a path of progress with the Median Sales Price in August up 12.0% from market action reporting in August of 2013 and up 14.5% from last month. The Average Sales Price in August was up 17.6% compared to August of 2013 and up 13.5% from last month. August 2014 ASP was at highest level compared to August of 2013 and 2012.

 Property Sales

August North Shore Property sales were down -13.9% from sales figures in August of 2013 and -8.3% lower than the sales totals last month. August 2014 sales were at a mid-level compared to August of 2013 and 2012. August YTD sales of 2,765 are running -12.2% behind last year’s year-to-date sales of 3,150.

 

Inventory & MSI

The Total Inventory of North Shore-Chicago Properties available for sale as of August 2014 was down -2.5% from figures calculated last month and up 14.3% from totals in August of last year. August 2014 Inventory was at a mid-range compared to August 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 August 2014 MSI of 3.5 months was at a mid-range compared with August of 2013 and 2012.

 Selling Price vs Listing Price

The Selling Price vs Listing Price reveals the average amount that North Shore Sellers are agreeing to come down from their list price. The lower the ratio is below 100% the more of a Buyer’s market exists, a ratio at or above 100% indicates more of a Seller’s market. The August 2014 Selling Price vs List Price of 96.4% was down from 96.7% last month and down from 96.8% in August of last year.

 MarketAction-GM-August2014

Inventory / New Listings / Sales

This view above of the market combines monthly inventory of Chicago North Shore Properties for sale along with New Listings and Sales. The graph shows the basic annual seasonality of the North Shore real estate markets as well as the relationship between these items. The number of New Listings in August 2014 was down -16.4% from market action totals last month and up 13.1% from figures noted in August of last year.

Often thought of as the consummate North Shore real estate professional, Gloria Matlin has a client centered style that focuses on elite real estate service and attention.  With over 25 years of top ranking, high producing accomplishments, a precise sense of area market trends and forecasts, she enjoys making dreams come true with each and every one of her clients.  Look to her for optimal performance with a sincere and personable approach to buying, selling, investing or even relocation related real estate endeavors. She calls Coldwell Banker residential real estate her home office-640 Vernon Avenue, Glencoe, Illinois.

Top 3 Benefits of Home Buying in the Fall: North Shore Real Estate

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Here on Chicago’s North Shore, next to spring, fall is often the busiest real estate time of the year. Although you can buy and sell houses at any time, the fall North Suburban real estate market offers abundant benefits to home buyers, including year-end tax breaks, pleasant weather conditions for moving, commonly a wider selection of houses, and the beautiful presence of mother-nature all FallScene-2around!

To further provide examples of the North Shore home buying advantages you can enjoy during the autumn months, below is a more detailed look into the benefits of looking for and purchasing a home in the autumn season.

Mortgage loan year-end tax breaks

By September and October, people are already reviewing year-end tax breaks they may be eligible for. Fortunately for homebuyers, owning a home can yield immense dividends in tax returns. For example, both mortgage interest and property taxes are deductible from gross income. In addition, if you have prepaid ant interest before the due date of your first payment and you close your loan before the year’s end, that amount will also be deducted. Consult a tax professional for specific details and guidelines.

Often more home buying choices

Given that North Shore home buying and selling is at a peak during the fall season, the real estate market often becomes a highly competitive arena. While there may be additional pressure to buy due to the quicker turnaround of houses on the market, at the same time you also benefit from the wider selection of homes available during the fall season. In fact, between the months of September and December, you may be fortunate enough to visit several North Shore open houses in a single day. Therefore, to make sure you don’t miss out on finding your dream house, it’s a good idea to examine on-line ads often since the listings are updated frequently.

Getting ahead of mother mature

Buying a North Shore house in the winter may not be very appealing to most home buyers. Low temperatures and poor weather conditions can potentially make moving more difficult. But by moving in early autumn, you gain the added benefit of eluding the sweltering summer heat.

Fall home buying TIP:  Taking into account that fall is the second busiest season of the year for buying and selling houses on the North Shore, you may be tempted to put a bid on a home for fear that another buyer will better your offer or snatch it up before you. Carefully assess your financial situation ahead of time and before your feet hit the pavement, know what your ceiling is and stick to it. More info HERE

The North Shore real estate Fall 2014 forecast calls for ongoing top tier results, high ranking top producing performance, and sustained elite service for Gloria Matlin. With over 25 years of trusted real estate professionalism, she is the consummate guide on Chicago’s North Shore. Look to her for assistance with relocation, buying, selling, investing, or to inquire about local communities, she can help make North Shore real estate dreams a reality. Her home office is located within the top brokerage firm on the North Shore-Coldwell Banker Residential real estate office. 640 Vernon Avenue, Glencoe, Illinois 60022.

 

Glencoe-North Shore Market Trends: Update August-September2014

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SurgeThe real estate surge continues on Chicago’s North Shore…. Illinois home prices rose again in July leading into August and September of 2014, marking nearly two years of annual gains; according to recent market action reporting from the Illinois Association of REALTORS®.

The statewide median price in July was up 7.2 percent from July 2013. On the North Shore of Chicago, buyers appear to be taking advantage of enticing market trends. The steady flow of real estate purchase appeal appears to be forcing prices higher, a market development seen through much of this year. Activity is picking up in the upper price tiers. Rents continue to climb in most metros. And interest rates are generally lower than a year ago. Prices forged onward. The Median Sales Price increased 1.5 percent to Market Times were down 27.8 percent to 81 days. The average time it takes to sell a home continues to decline. In July, it took 65 days on average to sell a home in the state, down 9.7 percent from 72 days last year. The average time to sell a home in the Chicago and Northern Shores area hovered around 50 days in July, and 43 days in the city of Chicago.

The monthly average commitment rate for a 30-year, fixed-rate mortgage for the North Central-North Shore region was 4.11 percent in July 2014, down from 4.17 percent in June, according to the Federal Home Loan Mortgage Corp. In July 2013 it averaged 4.35 percent.

An additional note as fall approaches.. Inventory remains relatively low. Now is an ideal time for sellers to re-evaluate their own long-term real estate plans and consider preparing their home for a fall sale. Interest rates remain historically low, and buyers are still enthusiastically pursing properties in several North Shore-Chicago markets.

Thirty-three (33) of 102 counties in Illinois showed annual home sales increases in July 2014. Fifty-six (56) counties showed year-over-year median price increases including North Shore Cook, up 7.7 percent.

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 Aug. 7, 2014 for the period July 1 through July 31, 2014 and into August as well as September. 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.

Optimal North Shore customer service, integrity, high-ranking market knowledge, communication and negotiation skills, closing preparation, helping individuals find the right home, marketing the home being sold, and overall satisfaction, all the areas Gloria Matlin strives in, and has continued to do for over 25 years. Let this seasoned real estate professional assist you this fall with buying, selling, relocation assistance, investing, or simply to inquire and find out more information. She is located at Coldwell Banker’s premier, top performing residential real estate office – 640 Vernon Avenue, Glencoe, Illinois, 60022.

Is a Smart Home in Your Future?

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glo360:

Ahead of the “smart” trends, maintains an accurate pulse on the Chicago North Shore real estate market, personable, tenacious, client focused, top performer, high ranking results, and dedicated to making North Shore real estate dreams come true for over 25 years; Gloria Matlin is the optimal choice for all things real estate on the Northern Shores of Chicago. 640 Vernon Avenue, Glencoe, Illinois, 60022.

Originally posted on Les Boomer's Real Estate Updates:

Hello? Remember when we used to answer the phone… at home… tethered to a wall and it was actually someone we knew? Today, most people have a smart phone. The years between those two devices are not as far apart as the way our lives have changed. Does that mean a smart home might be in our future?

In many ways, our homes have been getting “smarter” for years. While we used to water by hand, most now have automatic sprinklers. Most garage doors now open and close remotely. We have thermostats that automatically control the temperature. We have timers that turn the lights in a room on and off when we’re on vacation. Move over George Jetson, we can even change the channel on our flat screen without getting up. What used to be amazing has quickly become common place.

jetsons

So what can we expect in the future? Certainly some items that are being considered might not be on…

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Real Estate Outcomes July2014: Chicago’s North Shore

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Glencoe-MarketReport

Monthly Market Update (Click to Play)

Prices

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.

Market Time

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.

Property Sales

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.

July2014MarketAction-GM

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.

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