Glencoe-North Shore Market Trends: Update July-August2014

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North Shore Chicago experiences a real estate summer surge, just in time for August 2014 — Home prices continued to climb and marked the 22nd consecutive month of annual increases, according to recent market action reporting from the Illinois Association of REALTORS®. Illinois home sales reversed course in June with statewide home sales experiencing a slight year-over-year gain for the first time this year.

Within the Chicago North Shore region and throughout the state, home sales are thriving; a concrete sign of a strengthening real estate market.  Inventory is rising in several North Shore areas. Activity is picking up in the upper price tiers. Rents continue to climb in most metros. And interest rates are overall lower than a year ago. New Listings in the North Shore-Barrington region increased 21.0% to 1,522. Inventory levels rose 9.1 percent to 3,479 units. The Median Sales Price increased 1.5%. Market Times were down 27.8% percent to 81 days. The uptick in demand continues to challenge home supply. North Shore buyers are finding the home they want and in a shorter amount of time. Both Seller as well as buyer are in strong positions this summer season. Information provided and supported by Midwest Real Estate Data LLC and The North Shore-Barrington Association of Realtors (Click to Enlarge): 

July-August-MarketUpdate2014

The monthly average commitment rate for a 30-year, fixed-rate mortgage for the North Central – Chicago North Shore region was 4.17 percent in June 2014, down from 4.18 percent in May, according to the Federal Home Loan Mortgage Corp. In June 2013 it averaged 4.09 percent.

According to Geoffrey J.D. Hewings, Director of the Regional Economics Applications Laboratory of the University of Illinois – “The volume of sales over the next three months (July, August and September) is forecast to match those recorded in 2013. In addition, median prices are continuing to climb while the REAL Housing Price Index suggests a slightly more optimistic growth rate when housing characteristics are taken into account,” noted Forty-three (43) of 102 counties in Illinois showed annual home sales increases in June 2014. Fifty-five (55) counties showed year-over-year median price increases including Cook, up 6.7%.

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 July 7, 2014 for the period June 1 through June 30, 2014 and continuing monitoring through August of 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. Find Illinois housing stats, data and the University of Illinois REAL forecast atwww.illinoisrealtor.org/marketstats.

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15 Life-Changing Storage Ideas for the Kitchen

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The 2014 summer continues with award winning top tier real estate service, high ranking, top producing, optimally performing results; all done with a personalized approach at making North Shore real estate dreams a reality. Look to Gloria Matlin for seasoned experience that spans 25+ years, and a broad grasp of Northern Shore real estate trends within communities such as Glencoe, Winnetka, Wilmette, Northbrook, and Highland Park. Her home base office can be found at the coveted Coldwell Banker Residential real estate office of Glencoe, Illinois-640 Vernon Avenue, 60022.

Sarah Sitar Remodeling and Interior Design

If you’ve perused Pinterest lately in search of kitchen storage ideas, you know there are thousands of space-saving tricks floating around. Here are 15 of our favorite ideas (we’re filing them away for any future kitchen remodels). Read more

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Real Estate Outcomes June2014: Chicago’s North Shore

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June2014-GM-MarketActionMarket Time

Summer 2014 North Shore – Chicago real estate figures surge with the average Days On Market (DOM) showing 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 Buyer’s market, a downward trend a move towards more of a Seller’s market. The DOM for June was 50, down -5.7% from 53 days last month and down -27.5% from 69 days in June of last year. The June 2014 DOM was at its lowest level compared with June of 2013 and 2012.

Selling Price vs Listing Price

The North Shore Selling Price vs Listing Price reveals the average amount that Sellers are agreeing to come down from their list price. The lower the ratio is below 100% the more of a North Shore Buyer’s market exists, a ratio at or above 100% indicates more of a North Shore Seller’s market. The June 2014 Selling Price vs List Price of 96.6% was up from 96.3% last month and up from 96.4% in June of last year.

Property Sales

June North Shore Property sales were down -10.8% from calculated real estate totals in June of 2013 and 30.9% higher than real estate sales last month. June 2014 sales were at a mid-level compared to June of 2013 and 2012. June YTD sales of 1,651 are running -12.2% behind last year’s year-to-date sales of 1,880.

Prices

The Median Chicago-North Shore Sales Price in June was down -1.7% from real estate volume totals in June of 2013 and down -5.7% from last month. The Average Sales Price in June was up 0.1% from final outcomes June of 2013 and down -3.5% from last month. June 2014 ASP was at highest level compared to June of 2013 and 2012.

Inventory & MSI

The Total Inventory of Properties available for sale as of June was up 6.8% compared to last month and up 5.2% from June of last year. June 2014 Inventory was at a mi- range compared to June of 2013 and 2012.

A comparatively lower MSI is more beneficial for North Shore sellers while a higher MSI is better for North Shore buyers. The June 2014 MSI of 3.5 months was at a mid-range compared with June of 2013 and 2012.

Ongoing top tier performance, exemplary, personable service, a comprehensive approach to client needs, over 25 years of dedicated real estate expertise, an accurate pulse on North Shore real estate trends/market conditions, marketing savvy, and a profound appreciation for technology as well as informative engagement on social media; Gloria Matlin is the consummate real estate professional on the Northern Shores of Chicago. She can be found in the top producing Coldwell Banker residential real estate office of Glencoe, Illnois-640 Vernon Ave., 60022.

4th of July Events and Fireworks: North Shore Chicago Real Estate

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North Shore Chicago real estate is an ideal topic, but for holiday sake, so is the 4th of July on Chicago’s North Shore! This year’s July 4th holiday falls on a Friday, which makes the celebration that much sweeter, with ongoing celebrations well into the fourth-of-july-picturesweekend.Local North Shore sights, sounds and events are boundless options this holiday. Below are top rated ways to celebrate Independence Day, as well as a list of North Shore community things to do, places to go and events to experience..Enjoy!

Find a Fireworks Show
Instead of driving neighbors and dogs crazy this year with at-home fireworks, attend a public display.

July 4th Events/Fireworks Shows for Glencoe, Winnetka, and Northfield:  

North Suburban and Chicago holiday events:

Shop ‘Til You Drop
There’s no better time to shop than on the 4th of July when Chicago North Shore retailers offer firework-worthy sales and other merchandise incentives; one of the best ways to avoid a battle with the crowd at the mall or outlet center:

Local shopping options

Plan a Cook-out or Picnic
Take your family or significant other on a picnic, by a lake or at the park near your home. Prepare your own finger foods and side dishes with traditional 4th of July grub. Download a few printable games to pump up the fun, which may include Independence Day trivia and a scavenger hunt for the kids.

Get Active
Organize a fun day of softball at a local field or park with family and friends. Assign blue and red (or white) teams and request that members wear the appropriate colors. Otherwise, pick up some cheap tees, pack a cooler with beverages, sandwiches and snacks, and let the games begin!

Parks and recreation options  

More info HERE