Real Estate Outcomes April2013: Chicago’s North Shore

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

 

Are you prepared for home ownership?

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 is a well crafted breakdown of what may be needed as a first time home owner on Chicago's North Shore or anywhere. Gloria Matlin is among the highest performing Realtors on the North Shore of Chicago. Producing client centered results for well over 25 years; she prides herself on making real estate dreams come true.

Real Estate Outcomes March2013: Chicago’s North Shore

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.

Glencoe-North Shore Market Trends: Update March-April2013

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.

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

Real Estate Outcomes February2013: Chicago’s North Shore

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.

 

5 Reasons to Buy or Sell in the Spring-North Shore Real Estate

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 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.

Stunning Chicago North Shore Open Houses-Exquisite Glencoe Real Estate History

The North Suburban area became popular with the affluent wanting to escape urban life, beginning after the Great Chicago Fire, and grew rapidly before and just after World War II. Large estates were built, along with lavish homes with well established architects. North Shore-Glencoe remains one of the most sought after and highly educated areas in the United States.

The term Chicago North Shore became common for businesses in numerous nearby inland Chicago suburbs. in the Evanston, Maine, New Trier, Niles and Northfield Townships and in southern Lake County, Illinois, it was common to name themselves “North Shore,” and for real estate and other marketers to use the term for North Shore communities as a frame of location; which caught on and became a confirmed reference to the area. More information HERE and HERE

Watch Chicago’s North Shore on PBS. See more from Geoffrey Baer Tours.

Real Estate Outcomes January2013: Chicago’s North Shore

Property Sales

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.

Glencoe-North Shore Market Trends: Update January-February2013

Outstanding North Shore real estate conditions for a new year. According to recent reports by the Illinois Association of REALTORS®, home sales surged 15.2% in December compared to previous-year levels and median prices topped off at 5.6% on average, across the state. See the supporting image below provided by Midwest Real Estate Data LLC and North Shore-Barrington Association of Realtors (click to enlarge):

In addition, the monthly average commitment rate for a 30-year, fixed-rate mortgage for the North Central region was 3.32% in December 2012. Last December it averaged 3.94%, according to the Federal Home Loan Mortgage Corp.

2012 showed stable signs of North Shore real estate recovery. As a result, an uptick in Chicago North Shore housing market figures was sustained across the board. Specifically ownership versus rental generation supported an increase in North Suburban housing sales that have spilled into 2013; with a decrease in market days before a North Shore property is sold. Confidence was seen in December of 2012, normally a slower period surrounding holiday sales performance. New Listings in the North Shore-Barrington region increased 1.0 percent to 407. Listings under Contract were up 56.1 percent to 451. Inventory levels shrank 39.6%. Low mortgage rates provided ongoing incentives to purchase, refinance and sell. All signs of inventory clearing and projected to produce positive figures well into 2013. Image below provided by Midwest Real Estate Data LLC and North Shore-Barrington Association of Realtors (click to enlarge):

 

In the nine-county Chicago-North Shore Primary Metropolitan Statistical Area (PMSA), home sales (single family and condominiums) in December 2012 totaled 7,372 homes sold, up 19.2 percent from December 2011 sales. Fifty (50) of 102 Illinois counties reporting to IAR showed year-over-year home sales increases in December 2012. Thirty-nine (39) counties showed year-over-year median price increases including Chicago North Suburban Cook, up 7.7%.

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 Jan. 7, 2013 for the period Dec. 1 through Dec. 31, 2012, reporting in January 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. 

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.