Glencoe-North Shore Market Trends: Update March-April2014

Leave a comment

Spring welcome’s Chicago North Shore real estate gains. Median prices increased 6.9% state wide, while home sales decreased 6.2% over previous-year market action levels reported in February according to the Illinois Association of REALTORS®.

The beginning of this year was profoundly affected by inclement weather conditions. Despite this fact, home prices saw a notable increase. Chicago North Shore Market Times were down 29.4% to 116 days. In addition, absorption rates improved as Month’s Supply of Inventory was down 29.9%. Rates remain attractive as the monthly average commitment rate for a 30-year, fixed-rate mortgage for the North Central region was 4.32 percent in February 2014, down from 4.46 percent in January, according to the Federal Home Loan Mortgage Corp. An ideal assortment of market status indicators that are proving ideal for North Shore sellers and buyers alike; this spring should reflect buyers ready to release pent up action and a readiness to move as homes come on the market. An uptick in median pricing historically indicates a strong market that will continue to rise. Information and supporting image provided by the North Shore Barrington Association of Realtors and Midwest Real Estate Data, LLC (click to enlarge):

MarketStatus-NS-March2014

 

Forty (40) of 102 counties in Illinois showed annual home sales increases in February 2014. Forty-seven (47) counties showed year-over-year median price increases including North Shore Cook, up 15.5%.

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 March 7, 2014 for the period Feb. 1 through Feb. 28, 2014 and continuing into March and April 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.

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

For information and in-depth assistance on this and similar North Shore real estate market action reporting, feel free to visit the North Shore’s top ranking residential real estate office of Glencoe, Illinois-Coldwell Banker-640 Vernon Avenue, 60022. Gloria Matlin has called the Northern Shores of Chicago home base for over 25 years.  Let her high producing, top performing client centered experience guide you through the Chicago North Shore real estate process with ease.

 

Advertisements

Top Ideas for Spring Break 2014: North Shore-Chicago Real Estate

Leave a comment

With warmer weather and vacation time close at hand the specific focus on North Shore real estate shifts slightly to subjects like places to go, places to stay, traveling abroad, and things to do for spring break 2014! Some will start looking at destination clubs or FirstDayOfSpringspecific places to visit; others will embrace a “staycation” concept and explore all that Chicago’s North Shore has to offer. Provided below are options to satisfy everyone this year:

Staycation-North Shore/Chicago, Illinois Style!

North Shore Events/Restaurants

Top Things to do Around Illinois/Chicago

One day deals

 

Top Destination Clubs & Travel!

Recommended club locations

Travel for students

Travel for families

Our Chicago North Shore Coldwell Banker office located in downtown Glencoe, Illinois-60022, can provide help with local vacation homes for rent, homes for sale, local North Shore directions, maps, events happening for spring break, places to visit, or simply just to recommend places to dine around the North Shore communities.  Our 46+ years of optimal neighborhood service can be put to use to help plan and sustain a wonderful spring break for 2014.  We look forward to assisting/seeing you. Have a fun and fantastic Spring Break. Enjoy!

Real Estate Outcomes February2014: Chicago’s North Shore

Leave a comment

Feb Market Action-2014Prices

More Spring ready  Chicago real estate surges…The Median Sales Price in February was up 17.6% based on market action reporting in February of 2013 and down -8.5% from totals last month. The Average Sales Price in February was up 11.2% compared to February of 2013 and down -19.4% based on figures calculated last month. February 2014 ASP was at highest level compared to February of 2013 and 2012.

Property Sales

Chicago North Shore February Property sales were down -12.0% from market action reporting in February of 2013 and -18.7% lower than the sales figures last month. February 2014 sales were at a mid-level compared to February of 2013 and 2012. February YTD sales of 359 are running 0.8% ahead of last year’s year-to-date sales totals.

Inventory & MSI

The Total North Shore Inventory of Properties available for sale as of February was up 3.3% from last month and down -27.6% compared to February of last year. February 2014 Inventory was at the lowest level compared to February of 2013 and 2012.

 Market Time

The average North Shore-Chicago Days on Market (DOM) shows how many days the average North Shore 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 February was 67, up 4.7% from 64 days last month and down -34.3% from 102 days in February of last year. The February 2014 DOM was at its lowest level compared with February of 2013 and 2012.

 Selling Price vs Listing Price

The 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 February 2014 Selling Price vs List Price of 97.0% was up from 95.0% last month and up from 94.6% in February of last year

 Inventory / New Listings / Sales

The view above summarizes the North Shore-Chicago market combining monthly inventory of 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 February 2014 was up 21.4% from last month and down -10.6% from sales volumes calculated in February of last year.

Spring is HERE!  The North Shore real estate market shows no sign of slowing. Now is the perfect time to contact North Shore’s consummate Realtor professional. With over 25 years of award-winning, top performing, high-ranking, high producing real estate accomplishments, Gloria Matlin prides herself on being an invaluable client resource.  Let her help you make your North Shore real estate dreams come true!  Gloria Matlin can be found in the top-tier Coldwell Banker Residential Real Estate office of Glencoe, Illinois-640 Vernon Avenue, 60022.