Real Estate Outcomes December2012: Chicago’s North Shore

Property Sales

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.

Relocating to North Suburban Chicago-North Shore Real Estate

On Chicago’s North Shore and around the country, relocating has become more common. Some relocate for work, have decided to move somewhere for greater lifestyle access, or are looking for a change of scenery. You may be faced with buying a home in a city that is not only unfamiliar, but in an area larger than anticipated. If you are a real estate investor or frequent vacationer, you might also be looking to buy property far from home base. Of course, buying real estate anywhere other than your current city presents a unique set of circumstances. Here are 4 tips for getting to the end goal….Relocation success!

1. Get a North Shore Real Estate Agent
Look for an experienced North Suburban Realtor/Broker in your intended village/city. Because of possible unfamiliarity with the area and the other unique challenges of not buying locally, you want to work with a professional who really knows what they’re doing. You may even be able to find an agent who specializes in helping people who are relocating, and who will be acutely aware of both your unique requirements and their ability to educate you about the local North Shore real estate market. You want a professional who can steer you toward exceptional neighborhoods and an ideal fit to with your lifestyle and overall needs.

Make sure you fully inform the North Shore real estate agent about your situation. For example, what is your moving timeframe? When will you be able to visit the area? Can the agent set aside a day to show you numerous North Shore properties while you’re in town? More than likely you’ll have limited time to view properties in person, and you’ll need someone who can help you organize and maximize your time. An experienced, high performing North Shore Realtor can do just that.

2. Get familiar with Possible North Shore Neighborhoods
All the usual criteria will also apply when searching for the right North Shore neighborhood – affordability, school quality, proximity to work, etc. The specific neighborhood you choose should reflect your current needs and lifestyle requirements.

3. Get Familiar with the Local North Shore Real Estate Market
Take advantage of all the resources available to you, including your Chicago North Shore real estate agent, in-person visits, chats with local residents, and online real estate reports, data, research, and listings to learn about your new digs. Ask lots of questions of your realtor, they are a wealth of market conditions information.

4. Don’t Avoid an In-Person Visit
And finally, once you’ve decided what you want, reviewed your must have list with your North Shore Realtor, done all your research, or found a few potential properties, you’re ready to get serious about taking the next steps and ultimately making an offer. But make sure you visit the homes in person at some point. Buying a home sight unseen can be tricky. No matter how much you trust your real estate agent’s sound judgment, the only person who really knows if you will like a particular property is you. More info HERE and HERE.

As a certified Cartus Relocation Specialist, Gloria Matlin helps out of area buyers and sellers find the perfect North Shore property to call home..On the Go? Move with Glo! She understands that moving/relocating can be an overwhelming and emotional endeavor. She prides herself on her North Shore community knowledge, involvement and; embracing the newest real estate tools/trends that keep her in the forefront so she can be there for her buyers-sellers 24/7.