Property Sales

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

Reblogged from mortgagemaestro:

There is so much more to consider when buying a home besides finding a good lender and realtor.  Have you prepared yourself for what exactly home ownership will cost you, outside of your monthly mortgage payment?  For most first time homebuyers the thought of home ownership is so exciting and this energy and excitement can sometimes put a glaze over your eyes that prevents you from seeing the "big" picture of home ownership. 

Read more… 307 more words

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.

Find Illinois housing stats, data and the University of Illinois REAL forecast atwww.illinoisrealtor.org/marketstats

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.

Property Sales

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.

1. Clean and Organize. Eliminate any clutter and pack up your least-used items, such as large pictures or photos, out-of-season clothes, non-used kitchen items, toys, and exercise equipment. Store items off-site or in boxes neatly arranged in the garage or even the basement. Clean the windows, carpets, walls, flooring, lighting fixtures, and baseboards to make the house sparkle. Having a garage sale may even be an option if time permits.

2. Go crazy on the curb appeal. Spring and summer mean getting out and enjoying the weather. It also means every detail of the outside of your home is far more noticeable.  Just put yourself in a potential buyers shoes and stand outside of your home. As you approach the front door, what is your impression of the property? Do the lawn and bushes look neatly displayed? Is the address clearly visible from where you are? Are pretty flowers or plants framing the entrances? Is the walkway free from debris and impediments?

3. Collect needed replacement estimates. Do you have big-ticket items that are worn out, out dated, or will need to be replaced soon, such your roof or carpeting? Get estimates on how much it would cost to replace those things, even if you don’t plan to do it yourself. The figures will help buyers determine if they can afford the home, and will be a helpful guide for both parties when negotiations begin.

4. Know where to find your warranties. Collect the warranties, guarantees, and user manuals for the furnace, washer and dryer, dishwasher, and any other appliances or equipment that will remain with the house after it’s sold.

 5. A pre-sale home inspection is Key. Be ahead of the game by arranging for a pre-sale home inspection. An inspector will be able to give you a good outline of the trouble areas that will stand out to potential buyers, and you’ll be able to make needed repairs before an open house begins. The inspection may also be an additional guide for contact negotiation.

The Coldwell Banker Residential Brokerage office located at 640 Vernon Ave in Glencoe, Illinois-60022; is home  to Gloria Matlin and other top performing North Suburban Realtors. The office has been a high performing real estate resource for the North Shore area for well over 40 years.  Stop in today to discover how they can assist with home buying, home selling, home rentals, market action reports, or just to get info on Chicago’s North Shore communities and things to do/places to go!

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.

Find Illinois housing stats, data and the University of Illinois REAL forecast atwww.illinoisrealtor.org/marketstats.

1. Focus on your front door: Updating your door’s handle and deadbolt set with a modern-looking option is a great visual upgrade, and it can be a practical improvement, too. While you’re at it, see if your doorbell, light fixtures and the door’s kick plate could be replaced. And be sure to glance up to check for cobwebs on the front porch.

2. Be the visitor: Stand at the end of the driveway and try to view the home as a buyer or visitor would. Are there oils stains in the driveway? Is there mold on the mailbox? Grime on the front door? Thoroughly clean your home’s exterior. Clean your siding, foundation, patio, walkways, driveways, stairs, decks and porch. Take a bucket and scrub brush to your front door, mailbox and any other areas that need gentler cleaning.

3. Don’t forget your fence: A homeowner may get used to looking at the back fence and not notice discoloration from water and sun. Give it a glance and plan for an update in paint or materials if needed.

4. Use plants, pots, or wreaths in cool colors, and keep them low-maintenance: People will react in a visceral, emotional way to hot colors, such as reds and yellows, it’s best to stick with a cool palette. Use blues, purples, light pinks and whites. Those colors will also make the home look cooler in warmer weather.

More information HERE

Prices

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.

Spring is commonly the time when everyone awakens from the routine of winter and is often motivated to start something new.  Below are 4 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.