Glencoe-North Shore Market Trends: Update December-January2013

Leave a comment

Ideal real estate news for the 2013 New Year…North Shore-Chicago Illinois home sales volume jumped 30.6% compared to previous-year levels in November!  Median prices also increased 7.7% statewide according to the Illinois Association of REALTORS® recent reporting.

The Chicago North Suburban housing market is gaining additional strength with Listings Under Contract up 73.3%, Inventory levels shrinking 36.9%, prices moving higher as the Median Sales Price increased 12.2%, and Market Times down 12.1%. Momentum has been maintained even in historically slow holiday timeframes this year. The trends point to upward figures being seen well into 2013. Although real estate analysts are keeping an eye on listing duration, and fixed rate averages. Confidence continues to soar among local and relocation buyers with the November 2012 mortgage rates at 3.33% for the North Central region. Last November it averaged 4.0%. See image below from Midwest Real Estate Data LLC and The North Shore Barrington Association of Realtors (click to enlarge):

nov-1

Fifty-five (55) of 102 Illinois counties including the North Shore showed year-over-year home sales increases in November 2012. More than half (54) counties showed year-over-year median price increases including Cook, up 7.9%. See supporting real estate data in the image below. (Provided by MRED and NSBAR) click to enlarge:

nov-2

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 Dec. 7, 2012 for the period Nov. 1 through Nov. 30, 2012 reflected in December 2012. 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.

Advertisements

Relocating to North Suburban Chicago-North Shore Real Estate

Leave a comment

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 aMoving-1 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.

 

 

Real Estate Outcomes November2012: Chicago’s North Shore

Leave a comment

GloNovReport2012Property Sales

November 2012 Chicago North Shore-Glencoe property sales surged 50.0% based on volume figures from November 2011, and 33.3% higher than top sales last month. November 2012 sales were at their highest level compared to November of 2011 and 2010 data. November YTD sales ran 14.3% ahead of last year’s year-to-date sales reporting.

Prices

The Median North Suburban-Glencoe Sales Price in November was down -36.6% from sales data reported in November of 2011 and down -16.0% from last month. The Average Sales Price in November was down -37.6% compared to November of 2011 and down -31.6% from last month. November 2012 ASP (average sales price) was at the lowest level compared to November of 2011 and 2010 data.

Inventory & MSI

The Total Inventory of North Shore Properties available for sale as of November was down -5.2% from last month and down -27.7% from November of last year. November 2012 Chicago North Shore Glencoe Inventory was at the lowest level compared to November of 2011 and 2010. MSI is the number of months needed to sell all of the inventory at the monthly sales pace.

A comparatively lower MSI is more beneficial for North Shore sellers while a higher MSI is better for North Shore buyers. The November 2012 MSI of 6.1 months was at its lowest level compared with November of 2011 and 2010.

Market Time

The average North Shore 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 November was down -28.1% from last month and down -71.3% from sales history data in November of last year. The November 2012 DOM was at its lowest level compared with November of 2011 and 2010 figures.

Inventory / New Listings / Sales

The view of the market above combines monthly inventory of Chicago North Shore Glencoe 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 North Shore Listings in November 2012 was down -14.3% from last month and up 100.0% from November of last year outcomes data.

Gloria Matlin, a North Shore Chicago Broker/Agent with a compelling 25+ year record of sustained real estate results; can be found in the Coldwell Banker Residential Real Estate office located in prestigious downtown Glencoe, Illinois-60022. Visits are encouraged to discuss market reports, sales, figures, ranking, predictions, conditions, insight, even holiday community events.

Glencoe Property for Sale with Historic French Architecture Past-North Shore Real Estate

Leave a comment

725 Greenleaf Ave in Glencoe, Illinois 60022, is the quintessential French Eclectic style, French Provincial or French Chateau, fashionable in the 1920s and 1930s. The style was utilized most often in residential architecture and emerged from an increased knowledge of French architecture and an appreciation for French culture.

American soldiers, who had served in France during World War I, returned home with a first-hand familiarity with French domestic architecture, particularly from the Normandy and Brittany regions. In addition, numerous Pacific Northwest architects who designed these homes had received training at the Ecole des Beaux Arts School, the most prestigious fine-arts school in Paris, and came back to America ready to apply what they had learned. Further fueling the popularity of the style was a number of photographic studies of modest French homes which were published both in architectural journals and popular magazines. These photos and commentary provided architects and builders with many models to draw design ideas from.

1918-1940 Sample Design:

FrenchChateau

The French Eclectic style is rectangular in plan and symmetrical in design, and is at least one-and-a-half stories in height. The main distinguishing characteristic of the style is a massive hip roof with its ridge paralleling the front of the house. The roof incorporates a second floor, which is typically lit by the addition of several dormers. Most of these dormers have segmental or hip roofs, although shed dormers can be found. Commonly, the dormers are located within the plane of the exterior wall and incorporate larger than normal windows.Exterior cladding can be of brick, stucco or clapboard.

Detailing varies from formal classically inspired door surrounds with pediments and pilasters, to a more loose English Tudor flavor with board and baton doors and round arched entry porches. Windows may be either multi-light double-hung sashes or casement style, and are often highlighted by decorative shutters. In order to expand the structure, frequently wings are added to the sides of the main block of the building and are usually subservient in size. Decorative quoins are often found at the buildings corners and near doors and windows.

Washington State Examples:


Washington Samples

Feel free to contact Gloria Matlin for a private showing of this lovely east Glencoe property! More info HERE and HERE!