Glencoe-North Shore Market Trends: Update December-January2014

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The year-end figures continue to trend on a high note…. The IllinoisChicago North Shore housing market saw November median prices rise 7.4% over previous-year levels, according to a recent report by the Illinois Association of REALTORS®.

Statewide home sales (including single-family homes and condominiums) in November 2013 totaled 10,624 homes sold, down from 10,820 in November 2012. Housing inventory Statewide as well as on the North Shore of Chicago in November was down 19.7 percent compared to a year earlier, dropping from 77,109 homes for sale in November 2012 to 61,882 this year.

Classically the notion of supply and demand shows dominance around this time of year. The decrease in the number of homes available on the market may force North Shore consumers who clearly show they want to buy, to pay a higher price point. Note that interest in North Shore real estate purchase remains strong, with attractive rates and the prospect of long-term investing. Listings in the North Shore-Barrington region decreased 3.5 percent to 558. Listings Under Contract were up 14.6 percent to 519. Inventory levels shrank 23.7 percent to 2,531 units. Prices got a lift. The Median Sales Price increased 19.9 percent. Market Times were down 32.6 percent to 97 days. Information provided and/or supported by the North Shore-Barrington Association of Realtors and Midwest Real Estate Data, LLC. See the supplemental image below (click to enlarge):

NorthShore MarketSummary-Nov2013

The monthly average commitment rate for a 30-year, fixed-rate mortgage for the North Central-North Shore Chicago region was 4.27 percent in November 2013, up from 4.20 percent in October, according to the Federal Home Loan Mortgage Corp. In November 2012 it averaged 3.33 percent.

Thirty-six (36) of 102 Illinois, Chicago North Shore counties showed annual home sales increases in November 2013. Thirty-nine (39) counties showed year-over-year median price increases including Cook, up 13 percent.

Sales and price information is generated by Multiple Listing Service closed sales reported by 30 participating Illinois REALTOR® local boards and associations including Midwest Real Estate Data LLC data as of Dec. 7, 2013 for the period Nov. 1 through Nov. 30, 2013, and will continue through January 2014. 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. (NOTE: The Decatur Association of REALTORS® data is not included in the November report due to a Multiple Listing Service change.)

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

Wishing you a prosperous, happy, healthy, joyful 2014 new year, filled with top producing, high ranking results, optimal performance, and an abundance of  Chicago North Shore luxury real estate options, throughout the year.

 

 

 

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Happy Holidays, Happy New Year-North Shore Chicago

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From our family to yours….

Seasons Greetings-Matlin-2013

COLDWELL BANKER RESIDENTIAL REAL ESTATE

640 Vernon Ave

GLENCOE, ILLINOIS

(847)835-6058

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 Stay in Touch for 2014!

 

Real Estate Outcomes November2013: Chicago’s North Shore

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Glo-NovResults-2013Property Sales

The year approaches the end with a real estate surge…November Chicago North Shore November YTD sales volume is running 23.7% ahead of last year’s year-to-date sales. Market action reporting figures were down -2.4% compared to figures in November of 2012 and were -20.2% lower than market action report sales figures last month. November 2013 sales were at a mid-level compared to November of 2012 and 2011.

Prices

The Median Chicago North Shore Sales Price in November was up 26.6% from totals in November of 2012 and up 14.5% from North Shore sales results last month. The Average Sales Price in November was up 29.3% compared to November of 2012 and up 10.2% from last month’s North Shore results. November 2013 ASP was at the highest level compared to November of 2012 and 2011.

Selling Price vs Listing Price

The North Shore Selling Price vs Listing Price reveals the average amount that North Shore Sellers are agreeing to come down from their list price. The lower the ratio is below 100% the more of a Buyer’s market exists, a ratio at or above 100% indicates more of a North Shore Seller’s market. The November 2013 Selling Price vs List Price of 96.1% was up from 95.8% last month and up from 94.0% in November of last year.

Inventory & MSI

The total Chicago Northern Shore Inventory of Properties available for sale as of November was down -14.8% from totals calculated last month and down -28.2% compared to November of last year. November 2013 Inventory was at the lowest level compared to November 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 November 2013 MSI of 4.4 months was at its lowest level compared with November of 2012 and 2011.

Inventory / New Listings / Sales

The view above of the North Suburban market of Chicago, combines monthly inventory of North Shore properties for sale along with New Listings and Sales totals. The sales driven 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 2013 was down -31.9% from last month and down -2.9% from market action reporting in November of last year.

Consistently among the top performing Illinois Realtors for the 2nd, and 3rd quarter of 2013, a five star professional award winner -2011, 2012 and 2013, nationally ranking in the top 1% of agents for over 3 decades; Gloria Matlin maintains these accolades with grace, and a sincere approach by making each and every client realize their North Shore real estate dreams.  For more information on these and similar reports feel free to stop by Gloria’s high producing Coldwell Banker Residential Real Estate office- 640 Vernon Ave., in the downtown village district  of Glencoe, Illinois,60022.

Holiday-New Years Events-Gift Ideas: Chicago’s North Shore

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holiday scene-North ShoreA helpful guide of things to do, places to go, things to see and experience on the North Shore of Chicago this holiday season.  Need last-minute gift ideas? We’ve got you covered.  Need things do or see with the kids/guests while on holiday vacation or through the weekend(s)?  Check out the top lists below. How about a list of North Shore or Chicago New Year’s Eve celebrations….sure thing, that’s listed here too!

HOLIDAY GIFT IDEAS:

Gifts for adults

-Gifts for kids or families

THINGS TO DO OVER THE HOLIDAYS:

-Theater

-General Area Family Fun

NEW YEAR’S CELEBRATIONS:

-New Year’s Ticket Events

HAPPY HOLIDAYS AND WISHING YOU THE VERY BEST CHICAGO NORTH SHORE REAL ESTATE DREAMS IN 2014!!