Glencoe-North Shore Market Trends: Update February-March2014

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It was cold, but things are still warming up…Chicago North Shore real estate inventory levels in January dipped 7.5 percent compared to last year, but median home prices climbed 9.6 percent over previous-year levels, according to recent market action reporting from the Illinois Association of REALTORS®.

The severe Midwestern temperatures affected seasonal trends in January. In spite of old man winter, and a slight dip in buyer traffic, prices remained competitive, with robust indications that Chicago North Shore real estate will continue to show strength as we enter into the spring season. As an example, North Shore Listings under Contract were up 2.8 percent to 506. Inventory levels shrank 24.7 percent to 2,184 units. Prices marched higher. The Median Sales Price increased 28.6%. Market Times were down 34.7 percent to 107 days. This is the time to reassess real estate situations.  Getting a fresh comparative market analysis might be ideal at this point in time. Interest rates remain appealing and should remain at lower levels but are expected to creep higher in 2014. Information provided and supported by the North Shore Barrington Association of Realtors and Midwest Real Estate Data, LLC. See the supporting image below (click to enlarge):

January-MarketStatus-2014

The monthly average commitment rate for a 30-year, fixed-rate mortgage for the North Central-North Shore region was 4.46 percent in January 2014, down from 4.48 percent in December, according to the Federal Home Loan Mortgage Corp. In January 2013 it averaged 3.40 percent.

Thirty (30) of 102 counties in Illinois showed annual home sales increases in the month of January 2014. Forty-three (43) counties showed year-over-year median price increases including Northern Shore Cook, up 19.4 percent. Chicago North Shore investor opportunities and first-time homebuyers are still finding attractive deals in a market that we might not see again for many years.

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 Feb. 7, 2014 for the period Jan. 1 through Jan. 31, 2014 and will continue into March 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.

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

Think Spring!  Now may be one of the best times in history to buy, sell and/or invest in real estate on Chicago’s North Shore. Having an experienced, top producing, top performing high ranking, real estate professional as your resource is paramount to finding the right North Shore fit.  Are you relocating to the North Shore of Chicago this spring season?  Gloria Matlin has been a relocation expert for well over 30 years. Her insight and accurate pulse on the market will make it easier to focus on where you’re going not where you’ve been. Gloria Matlin’s home office is located at 640 Vernon Avenue, in the heart of the historic downtown village district of Glencoe, Illinois 60022.

Just Listed – 904 Glencoe Drive in Glencoe-North Shore, Chicago Real Estate

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904 Glencoe DriveSteps To Your Glencoe Lifestyle…

Custom built Timm Martin all brick Georgian residence on quiet cul-de-sac just steps from the heart of town, including restaurants, Writer’s Theatre, library, grocery, pharmacy and more.  This home was built for suburban / beach town environment within easy reach of downtown Chicago, yet without typical suburban, car-only lifestyle.   Near transportation, schools, Ravinia Park, Chicago Botanical Garden and our magnificent beach and North Shore lake front park.

Blue stone steps welcome you to the gracious entry and 2 story foyer with spiral staircase, recessed lighting and natural light filtering in from large windows.  Gracious living space unfolds from here with a design that allows for easy living, entertaining or tranquil alcoves.

Double French doors open to the Library/Living room with handsome hardwood floors, built-in bookcases, crown moldings and recessed lighting.  A wood burning, gas starter fireplace has a slate surround and wood mantle – a peaceful spot for quiet gatherings or for reading or reflecting.

The Dining room, with hardwood floors, recessed lighting and large double windows, connects to the kitchen and is perfect for entertaining!

The open bright Family room and adjacent Sun room and Kitchen feature hardwood floors, recessed lighting and scenic vistas from the many windows and French doors opening to the beautifully landscaped property.  This area was designed to allow family interconnectedness and also separate undistracted activities.

The Family room has a wood burning, gas starter fireplace with granite surround and wood mantle.  Built-in cabinetry and French doors that open to the stone paver patio and landscaped yard   complement the space – a perfect place for large gatherings or quiet intimate evenings at home.

The Sun room is a peaceful alcove surrounded by windows and French doors with easy access to the patio and yard. The fabulous Kitchen has an abundance of beautiful floor to ceiling cherry wood cabinets, some with lighted art glass inserts, a large island with prep sink and granite counters.  Appliances include:  a Sub Zero refrigerator, a Thermador 4 burner stove with char broiler and griddle, and a Bosch dishwasher.  The large eating area also has a wall of cabinets and work area.

Completing the first level is a stunning Powder room, ample closets and a separate mud room connecting the side entrance and kitchen.

The 2nd level has 4 spacious bedrooms including a luxurious Master suite.  There are hardwood floors and recessed lighting throughout.  One bedroom, currently used as an office, has a private bath with spa tub.  A private suite has 2 bedrooms with fitted closets and ample natural light. They share a bath with double sinks, granite counters, storage towers, mirrored medicine cabinets and separate shower.

The Master bedroom has a wood burning, gas starter fireplace flanked by 2 glass sconces and a sitting area.  The spa oasis bath features Jerusalem stone counters, Kalista double sinks and Mahogany cabinetry.  There is an extra- large spa tub and a multi-head double shower with bench, steam and music!  A large fitted walk-in closet has a private stairway (also accessible from the main hall) going to a third floor retreat. Currently a private office, this flexible space allows for another bedroom with walk-in closet, a master lounge or a playroom.

The large, finished basement with 9- foot ceilings and its own HVAC zone, is carpeted, has recessed lighting and has multiple closets for storage.  A laundry room with Maytag washer and dryer and many cabinets is connected by chutes from 1st floor mudroom and 2nd floor bedroom suite area.  A bedroom, currently used as an exercise room has recessed lighting and a large closet.  An additional room, now used as a 5th bedroom, also has many possibilities. The spacious multi-use recreation room is set up for media and a large play area.  A full bath has a shower and is connected to both the bedroom and main recreation area for convenience.  Plumbing is in place for the addition of a kitchen/bar, if desired.

Other highlights of this special offering include:  3 zone HVAC, 2 water heaters, 400 amp electric service, double sump pump battery back-up, underground sprinklers on main property, security system, speakers in many areas of the home including the exterior, and a 2.5 car garage with extensive shelving designed for storage.

The private property on nearly ½ acre has a stone paver patio with fire pit, play yard and an unusually large side yard – the land was annexed from a neighboring lot and, if desired, allows potential for a pool, greenhouse, sports court, skating rink, addition or other lifestyle choices.  More information and a custom tour HERE and HERE