April 2013 Chicago- North Suburban Glencoe real estate property sales were up 163.6% compiled against market action data in April of 2012 and topped 50.0% higher than sales performance last month. April 2013 sales totals were at their highest level compared to April of 2012 and 2011. April YTD sales are running 20.0% ahead of last year’s year-to-date sales production reports.
Prices
The Median North Shore Sales Price in April was up 15.1% from totals released in April of 2012 and up 22.4% from last month. The Average Sales Price in April was up 4.1% compared to outcomes in April of 2012 and up 16.0% from last month. April 2013 ASP (average sales price) was at a mid-range compared to April of 2012 and 2011.
Inventory & MSI
The Total Inventory of Properties available on Chicago’s North Shore for sale as of April was equal to last month and down -34.3% from totals in April of last year. April 2013 real estate Inventory was at the lowest level compared to April 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 April 2013 MSI (months’ supply of inventory) of 3.7 months was at its lowest level compared with April of 2012 and 2011 inventory rank.
Market Time
The average Days on the Market (DOM) shows how many days the average 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 April was 50, down -16.7% from 60 days last month and down -56.1% from 114 days in April of last year. The April 2013 DOM was at its lowest level compared with April of 2012 and 2011 analysis.
Inventory / New Listings / Sales
The summary view of the market above 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 market as well as the relationship between these items. The number of New Listings in April 2013 was up 8.7% compared to last month and down -7.4% from totals ranked in April of last year.
Highest performing Chicago-North Shore Realtor by rank, and within the top 1% of real estate professionals nationwide; Gloria Matlin is your source for optimal service along with an extensive experience base spanning 25+years. She can be found in the North Suburb’s best producing real estate office-Coldwell Banker in Glencoe, Ill-640 Vernon Ave,60022. Feel free to stop in for questions on this report and other real estate market indicators, analysis, home/property values, projections, conditions, and forecasts. More information HERE and HERE
North Shore Chicago Real Estate is off to a HOT start for spring!…..According to the Illinois Association of REALTORS®, Illinois home sales increased 13.6% over previous-year data in March and median prices increased 3.6%. Statewide home sales including the North Suburban area in March 2013, totaled 10,992 homes sold, up from 9,679 in March 2012. Statewide real estate market action reports showed monthly year-over-year gains since July 2011.
This period traditionally marks the busiest time in a year for the North Shore real estate market. Currently, listings under Contract were up 36.1%. Inventory levels shrank 40.4% to 2,608 units. Two factors to highlight are the reduced market times before a home sells, along with reduced inventory levels. They support the current intense interest home-buyers have to take advantage of low prices that will ultimately increase, and locking in a desirable interest rate. This is an ideal time for sellers to list homes and sell quickly if priced right. The North Suburban Chicago Spring real estate market is thriving and benefiting buyers and sellers alike. See supporting data from The North Shore-Barrington Association of Realtors and Midwest Real Estate Data LLC in the image below (Click to enlarge):
The monthly average commitment rate for a 30-year, fixed-rate mortgage for the North Central-North Suburban region was 3.54 percent in March 2013, up from 3.49 percent during the previous month, according to the Federal Home Loan Mortgage Corp. Last March it averaged 3.99 percent.
Director of the Regional Economics Applications Laboratory of the University of Illinois, Dr. Geoffrey J.D. Hewings stated: “The inventory in both the state and Chicago markets suggest that demand has begun to return to the housing market.” Forty-four (44) of 102 Illinois counties, including the north suburbs of cook and Lake Counties, showed year-over-year home sales increases in March 2013.
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 April 7, 2013 for the period March 1 through March 31, 2013 and will continue with real estate updates in April 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.
Gloria Matlin a real estate professional with a long-standing and compelling record of top producing accomplishments in the North Suburbs of Chicago. She has been a trusted resource providing unparalleled Chicago-North shore real estate insight, performance, knowledge, expertise, and sound guidance for over 25 years. Visit her home base-Coldwell Banker Residential Real Estate office located in Glencoe: 640 Vernon Ave, 60022; or find her HERE for the latest trends, market reports, data, relocation options-designations, and information on her unique client driven approach to real estate.
The Market is heating up!! Chicago North Shore-Glencoe March real estate property sales were up 14.4% from market action reporting in March of 2012 and 27.4% higher than North Suburban sales last month. March 2013 sales figures were at their highest level compared to March of 2012 and 2011. March YTD sales are running 23.4% ahead of last year’s year-to-date final real estate data.
Prices
The Median Glencoe Sales Price in March was up 2.7% from March of 2012 and up 11.8% from last month. The Average North Shore-Glencoe Sales Price in March was up 3.2% compared to March of 2012 and up 11.2% from last month. March 2013 ASP (average sales price) was at a mid-range compared to March of 2012 and 2011.
Inventory & MSI
The Total Inventory of Glencoe-North Suburban Properties available for sale as of March was down -10.1% from sales figures calculated last month and down -42.2% from North Shore real estate totals in March of last year. March 2013 Inventory was at the lowest level compared to March of 2012 and 2011.
A comparatively lower real estate MSI is more beneficial for Chicago-North Shore sellers while a higher MSI is better for Chicago-North Shore buyers. The March 2013 MSI of 4.6 months was at its lowest level compared with March of 2012 and 2011.
Market Time
The average Days on Market (DOM) shows how many days the average North Shore-Glencoe real estate property is on the Market before it sells. An upward trend in North Shore 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 March was down -3.4% compared to last month and down -19.0% from 105 days in March of last year. The March 2013 DOM was at its lowest level compared with March of 2012 and 2011.
Inventory / New Listings / Sales
The view above of the Glencoe-North Shore real estate market combines monthly inventory of Properties for sale along with New Listings and Sales. The graph outlines the basic annual seasonality of the market as well as the relationship between these items. The number of New Chicago North Shore-Glencoe Listings in March 2013 was up 13.8% from last month and down -10.2% from data calculated from March of last year.
Gloria Matlin is a sustained real estate resource, ranking nationally within the top 2% of Realtors for over 20 years. She is among Coldwell Banker’s elite group of 2012 highest performing real estate professionals. Chicago’s North Suburbs, also known as the North Shore, is where she calls home. Visit Gloria HERE and HERE for additional real estate news, reports, forecasts, tips, and insight.
Great News! Home sales statewide, including Chicago North Shore have posted monthly year-over-year volume gains since July 2011; per information recently released by the Illinois Association of REALTORS®.
So far North Shore sales volume has been encouraging. The first two months in a year are traditionally slower in terms of real estate progress, but this year to date the market is off to a robust start. North Shore Market appeal is strongly supported by ongoing attractive mortgage rates and ideal turn-around time-frames for sellers; a win-win combination for all involved in the Chicago North Shore real estate transaction process. The future looks bright for April 2013 North Shore home sale projections.
The monthly average commitment rate for a 30-year, fixed-rate mortgage for the North Shore-North Central region was 3.49 percent in February 2013, up from 3.40 percent during the previous month, according to the Federal Home Loan Mortgage Corp. Last February it averaged 3.91 percent. In the nine-county Chicago Primary Metropolitan Statistical Area (PMSA), home sales (single-family and condominiums) in February 2013 totaled 5,935 homes sold, up 20.2 percent from February 2012 sales of 4,936 homes.
Forty-seven (47) of 102 Illinois counties reporting to IAR including the North Suburban area showed year-over-year home sales increases in February 2013. Lake, up 7.4 percent Cook, up 4.7 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 March 7, 2013 for the period Feb. 1 through Feb. 28, 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.
The Illinois Association of REALTORS® is a voluntary trade association whose 41,000 members are engaged in all facets of the real estate industry. In addition to serving the professional needs of its members, the Illinois Association of REALTORS® works to protect the rights of private property owners in the state by recommending and promoting legislation to safeguard and advance the interest of real property ownership.
The Median Chicago/North Shore-Glencoe Sales Price in February was up 144.8% compared to real estate data totals in February of 2012 and up 65.6% from figures reported last month. The Average Sales Price in February was $1,550,000, up 111.5% compared to February of 2012 and up 101.0% based on real estate totals last month. February 2013 North Suburban Glencoe ASP (average sales price) was at highest level compared to February of 2012 and 2011.
Property Sales
February Chicago North Shore-Glencoe Property sales were down -50.0% in February of 2012 and -50.0% lower than sales last month. February 2013 sales were at their lowest level compared to February of 2012 and 2011. February YTD sales are running -25.0% behind last year’s year-to-date sales reporting figures.
Inventory & MSI
The Total Inventory of Properties available for sale on the North Shore of Chicago-Glencoe as of February was up 11.3% from last month’s market action report totals and down -33.0% compared to February of last year. February 2013 North Shore Inventory was at the lowest level compared to February of 2012 and 2011.A comparatively lower MSI is more beneficial for North Suburban sellers while a higher MSI is better for North Suburban buyers. The February 2013 MSI of 17.3 months was at a mid-range compared with February of 2012 and 2011.
Market Time
The average Days on Market (DOM) shows how many days the average North Shore-Glencoe 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 February was up 97.4% compared to last month and down -10.2% from calculated days in February of last year. The February 2013 DOM was at a mid-range compared with February of 2012 and 2011.
Inventory / New Listings / Sales
The summary image above of the Chicago North Shore view of the market combines monthly inventory of Properties for sale along with New North Shore 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 Glencoe Listings in February 2013 was up 20.0% from last month and up 25.0% from February of last year.
Gloria Matlin, recognized nationally as a top 1% performer, and a trusted Chicago North Suburban Realtor/Broker offering over 25 years of professional expertise. Her office, located in the heart of downtown Glencoe-640 Vernon Ave-60022.; is a top ranking resource with over 45 years of reliable service, reporting, analysis, forecasts and community resources. Stop in today to discuss this market action data, or similar North Shore real estate market condition outcomes.
It is no surprise that a fresh start at the beginning of the spring season for some means they are ready to finally put their North Shore house on the market and/or start looking for a new Chicago-North Suburban place to call home.
Spring is commonly the time when everyone awakens from the routine of winter and is often motivated to start something new. Below are4 reasons plus 1 tip on why spring can be the ideal time to get moving on buying, selling or both on the North Shore:
1. A house on the market at the beginning of spring sets you up for a perfect timeline to move over the summer! The weather is most likely to cooperate with you during this time. A summer move is also ideal for those who have families where it is better not to disrupt the children during the school year – especially if you’re moving school districts; this will allow them to have a fresh start at the beginning of a brand new school year.
2. Uptick in traffic at open houses means increased probability of a sale. Let’s face it; people don’t generally like to leave the comfort of their warm homes on a Sunday afternoon when it’s too chilly outside.
3. Houses look more appealing in the sunlight with nice curb enhanced greenery and/or flowers out front. Curb appeal is important year round. The spring shines a light on a home’s appearance literally and figuratively. It’s a little easier to make repairs to a home when the weather is mild. Spring is the time to finally stop putting off the little projects that have been building up through the winter. Fix that broken step banister put a fresh coat of paint on that chipped garage door, it can make the difference and have bearing on a buyer the moment they approach a home.
4. Take the fix-up projects a step further….There is certainly no better time to de-clutter than with the windows open for the first time after winter! Deciding to sell might be that extra push you need to finally get rid of those old clothes or an over abundance of toys. More tips and guides HERE and HERE
IMPORTANT TIP:
Find a good Chicago North Suburban Realtor/Broker. Local North Shore luxury real estate agents offer insight you won’t always find online or through a listing/ad. Gloria Matlin has kept a pulse on the market and knows the North Shore communities with over 25 years of experience. Let her be your guide, and make your real estate dreams a reality for Spring 2013. Stop in her Coldwell Banker Residential Real Estate office, located at 640 Vernon Avenue in downtown Glencoe, Illinois-60022-for additional information and superb service/attention.
The Chicago North Shore Spring season is projected to be bright….home sales increased 31.1% over previous-year real estate figures in January 2013. In addition median prices increased state-wide by 1.2% based on a recent report by the Illinois Association of REALTORS®.
Sustained improvement in the North Shore real estate market was seen throughout a predominant portion 2012, and it is highly probable that figures will remain strong well into the first quarter of 2013. North Suburban sales volumes and inventory levels for January 2013 are notable. Inventory levels shrank 38.9% to 2,617 units. This indicates sustained buyer confidence in conjunction with ongoing and appealing buyer incentives; as supported by data provided by theNORTH SHORE BARRINGTON ASSOCIATION OF REALTORS® and MIDWEST REAL ESTATE DATA LLC:
The monthly average commitment rate for a 30-year, fixed-rate mortgage for the North Central region was 3.40 percent in January 2013, up from 3.32 percent during the previous month, according to the Federal Home Loan Mortgage Corp. Last January it averaged 3.92 percent. . Interest rates are slowly moving higher in some regions, though the affordability picture remains extremely attractive.
Fifty-nine (59) of 102 Illinois counties including North Suburban Cook showed year-over-year home sales increases in January 2013. Fifty (50) counties showed year-over-year median price increases with cook up 3.1%. New Listings in the North Shore-Barrington region increased 2.6 percent to 836. Listings under Contract were up 41.4% according to data from NSBAR and MRED:
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 Feb. 7, 2013 for the period Jan. 1 through Jan. 31, 2013; the process repeated in March 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.
Gloria Matlin, Realtor, top producer, Chicago North Suburban resident, can be your trusted luxury real estate guide. She has been representing Glencoe’s highest ranking residential brokerage office for over 25 years. Feel free to stop by the office located at 640 Vernon Ave-60022, in the downtown district to discuss this or similar reports. Coldwell Banker, your resource for analysis, projections, history, impeccable service, or simply to gain information on North Shore-Chicago communities.
Chicago’s North Shore Glencoe January Property sales were equal to volume trends generated in January of 2012 and 14.3% higher than real estate market action reporting last month.
Prices
The Median Glencoe-North Shore Sales Price average in January was down -3.4% compared to real estate reporting in January of 2012 and up 9.6% from last month. The Average Sales Price in January was down -50.6% from real estate data recorded in January of 2012 and up 26.0% last month. January 2013 ASP (average sales price) was at the lowest level compared to January of 2012 and 2011.
Inventory & MSI
The Total Inventory of North Suburban Glencoe Properties available for sale as of January was up 1.7% from volume reported last month and down -37.1% from figures totaled in January of last year. January 2013 Inventory was at the lowest level compared to January of 2012 and 2011.
A comparatively lower MSI is more beneficial for Chicago North Shore sellers while a higher MSI is better for Chicago North Shore buyers. The January 2013 MSI of 7.6 months was at its lowest level compared with January of 2012 and 2011.
Market Time
The average Days on Market for Glencoe (DOM) shows how many days the average North Shore-Glencoe Property is on the Market before it sells. An upward trend in DOM tends to indicate a move towards more of a Glencoe Buyer’s market, a downward trend a move towards more of a Glencoe Seller’s market. The DOM for January was -21.6% from data reported last month and down -35.0% days totaled in January of last year. The January 2013 DOM was at its lowest level compared with January of 2012 and 2011.
Inventory / New Listings / Sales
‘The graph view provided above of the North Shore Chicago market combines monthly inventory of Glencoe 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 January 2013 was up 1150.0% from last month and up 13.6% from January real estate reporting provided last year.
For additional market action data, analysis, projections, recommendations, with real estate reporting focused on specific North Shore Chicago communities such as Winnetka, Wilmette, Highland Park, Kenilworth, Northbrook, Deerfield, Northfield, Lincolnshire, Buffalo Grove, Glenview, and Skokie; feel free to stop in to the highest performing residential real estate office in Glencoe-Coldwell Banker at 640 Vernon Ave., 60022-The heart of downtown center. The place Gloria Matlin, Realtor/Broker calls her professional home.
Here on Chicago’s North Shore the real estate market is favorable for both buyer and seller alike. North shore agents are seeing busier open houses, quicker sales, even multiple offers.
But like houses, no two North shore sellers or buyers are exactly the same. Having a grasp of the mindset of both, can ease the North Shore real estate navigation process a bit. With the help of an experienced solidly performing North Shore Realtor, below are three scenarios sellers and buyers should be aware of in today’s market:
1. Buyers can be sellers and sellers become buyers
Often, sellers feel the same amount of stress or excitement that buyers feel because they’re somewhere in the buying process, too. Though some sellers may want to take additional time and become renters after their sale is complete, many will get back in the homeowner game soon after the sale goes through, sometimes immediately. Sellers, as would-be buyers, want to capitalize on low interest rates and home values. Getting the North Shore home sold quickly and at today’s value may be all a seller needs to make a purchase. Though it may be a “sellers’ market in some areas,” most sellers these days have a sense of empathy. They understand the buyer’s position and likely want to get out cleanly and quickly so that they, too, can buy.
2. Sellers are starting to feel relief but with caution
Even the sellers who have successfully sold are well aware of what happened in real estate markets over the past five years; news that the market is changing, and in their favor can be a welcoming incentive for all involved. They’re more hopeful than they were even six months ago. Generally speaking, however, most sellers are still feeling conservative and cautious. They’re more likely to take a bird in the hand than to risk losing a sale because of a knee jerk instant reaction.
3. Advice for both sides
Real estate is a game, in a sense, in which both sides hope to achieve their goals, which is why it always helps to understand your “opponent. Take a moment to size up who the buyer is, how they got there and why they want to buy. Don’t make assumptions. Take a step back. Put yourself in their shoes.
Sellers aren’t the same as they were around 2005, when many were driven by other goals as the market’s rise seemed endless. Don’t go into this market, which is very different from even six months ago, assuming the same rules apply. Consulting with your competent North Shore real estate professional, will put you in the right position for a successful and joyful transaction.
Gloria Matlin, a high ranking real estate performer, can be found at the North Suburban Glencoe Coldwell Banker office – 640 Vernon Ave., 60022. More information HERE
North Shore-Glencoe December real estate YTD sales are running 10.2% ahead of last year’s year-to-date sales. Overall property sales figures show -36.4% from December of 2011 and -41.7% lower than sales last month. December 2012 sales were at their lowest level compared to December of 2011 and 2010 sales data.
Prices
The Median Sales for Chicago North Suburban Glencoe was -8.7% compared to reports from December of 2011 and up 3.2% from last month. The Average Sales Price in December was down -23.5% compared to December of 2011 and down -24.6% from last month. December 2012 ASP was at the lowest level compared to December of 2011 and 2010 figures.
Inventory & MSI
The Total Inventory of North Shore-Glencoe Properties available for sale as of December was down -24.3% from data compiled last month and down -39.1% from outcomes in December of last year. December 2012 Inventory was at the lowest level compared to December of 2011 and 2010.
A comparatively lower MSI (monthly supply of inventory) is more beneficial for North Shore sellers while a higher MSI is better for North Shore buyers. The December 2012 MSI of 8.0 months was at its lowest level compared with December of 2011 and 2010.
Market Time
The average Days on Market in Chicago North Suburban Glencoe (DOM) shows how many days the average real estate 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 December was 97, up 51.6% from last month and up 9.0% from sales data listed in December of last year. The December 2012 DOM was at its highest level compared with December of 2011 and 2010.
Inventory / New Listings / Sales
‘The view above provides a summary of the North Shore market combining monthly inventory of North Shore 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 December specific to Glencoe in 2012, was down -88.9% from 18 last month and down -71.4% from figures posted in December of last year.
Glencoe’s high performing Coldwell Banker Residential Real Estate office located in the downtown district (640 Vernon Ave., 60022) can be a source for up-to-date real estate news, reporting, figures, analysis, outcomes, projections, and overall market conditions. Gloria Matlin, an exceptional North Suburban Realtor, has been helping buyers and sellers connect with their real estate dreams, on Chicago’s North Shore, for over 25 years. Feel free to stop in for immediate assistance.
Property Sales
