Real Estate Outcomes October2014: Chicago’s North Shore

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Prices

Monthly Market Update (Click to Play)

Monthly Market Update (Click to Play)

Confirmation of Late autumn ongoing North Shore Chicago progress…The Median Sales Price in October was up 15.1% from price-points in October of 2013 and up 5.7% from last month. The Average Sales Price in October was up 14.6% from market action reporting in October of 2013 and up 10.5% from last month. October 2014 ASP was at highest level compared to October 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 Seller’s market. The October 2014 Selling Price vs List Price of 95.6% was up from 95.3% last month and down from 95.8% in October of last year.

Property Sales

Chicago North Shore October Property sales were down -4.4% compared to market action reporting in October of 2013 and -5.7% lower than sales last month. October 2014 sales were at a mid-level compared to October of 2013 and 2012. October YTD sales totals are running -11.5% behind last year’s year-to-date sales final market outcomes.

Inventory & MSI

The Total Inventory of North Shore Properties available for sale as of October was down -7.6% from last month and up 15.2% from totals in October of last year. October 2014 Inventory was at a mid-range compared to October of 2013 and 2012.

A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The October 2014 MSI of 5.3 months was at a mid-range compared with October of 2013 and 2012.

OctMarketReport-2014-GM

Inventory / New Listings / Sales

The summary North Shore-Chicago view of the market combines monthly inventory of North Shore 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 North Shore Listings in October 2014 was down -24.6% from final totals reported last month and up 10.2% from final figures recorded in October of last year.

A steadfast, top producing, Chicago-North Shore real estate resource for over 25 years, Gloria Matlin is known as the consummate professional. Clients praise her and provide ongoing feedback on her sense of staying ahead of market outcomes, an extensive top performing background in marketing, invaluable North Shore community insight, and a high-ranking client focused desire to make North Shore real estate dreams a reality. Visit Gloria Matlin HERE and HERE to review testimonials and for an online introduction; or simply stop by her exceptional residential real estate office-Coldwell Banker, 640 Vernon Avenue in Glencoe, Illinois, 60022.

Pre-Holiday Season Prep-Chicago North Shore Real Estate

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Chicago-North Shore Retailers have already started putting out signage and decorations, leaving us all in a panic that Thanksgiving, Christmas, Hanukkah, and the like are “right around the corner.” The whirlwind holiday season is fast approaching, and the pressure to get started with preparations begins about now? Fortunately, there are some things you can do NOW to lessen the inevitable hustle and bustle of the season….

HomeTip-CB

Out with the old

If you have children, now is the time to determine which toys they’ve outgrown. Clear out those items to make space for incoming gifts. Likewise, if you expect to upgrade any electronic gadgets, now is a good time to start thinking about where you can donate or recycle the old ones.

Address lists

You will start receiving holiday cards in about four weeks. Be ready to send your well wishes out at the same time. Because we don’t send as much mail as we once did, many of us scramble to find an address when we need it. Take time to assemble your addresses in one document. Make sure they are current and think about whom to add or remove from the list. This will give you a reliable count of how many cards and stamps you’ll need. It will also make printing labels or addressing envelopes a breeze.

Create a gift list and budget

Create a list of people for whom you need to buy gifts. This seems like a no-brainer, but writing the names down in one place will help as you start to shop. It will also help you create a budget. Don’t commit to spending an exact dollar amount, but do have a range in mind. And be sure to include the mail and newspaper carriers, the dog walker or the person who cuts your lawn on that list. More information HERE and HERE

Along with providing tips on getting ready for the holiday season, Gloria Matlin has been a sound Chicago-North Shore real estate resource for over 25 years. With top ranking, high performing, optimally producing real estate results no matter the season, Gloria’s market savvy, area insight, and dedicated client centered style; ensure she continues to make North Shore-Chicago real estate dreams a reality! Visit her at her office home base…Coldwell Banker Residential Real Estate office of Glencoe, Illinois-640 Vernon Ave, 60022.