Holiday Market Updates-North Shore Chicago Real Estate

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Seasonal Chicago North Shore real estate news…

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Visit www.gloriamatlin.com for more information

Gloria Matlin’s area of expertise spans 25+ years with a high-ranking, accolade supported background in new construction and luxury Chicago-North Shore real estate. She with son Zack Matlin, enjoy helping clients form their North Shore real estate dreams from start to finish; whether the client is a first time buyer or seasoned investor, she lends her proven top performing skill-set every step of the way. As a Certified Relocation Specialist– “On The Go? Move With Glo!” Gloria and Zack help out of area buyers, and those relocating find the perfect North Shore place to call home. Representing sellers has always been a passion, creating top producing marketing plans to fit each individual clients needs and helping the client get through what can be an emotional venture.

 

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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.

Glencoe-North Shore Market Trends: Update September-October2013

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Fall 2013 is off to a bang! North Shore-Chicago, Illinois home sales figures surged 17.3% over previous-year levels in August. In addition, median prices increased 13.6% based on the recent market action reporting by the Illinois Association of REALTORS®. Within the North Shore area as well as Statewide, home sales (including single-family homes and condominiums) in August marked one year of continuous annual sales and price gains.

The summer and spring North Shore real estate selling season was exceptionally strong. The recent state figures support expected momentum into fall 2013. August Median home price gains and ideal mortgage rates continue to fuel the demand for homeownership. New Listings in the North Shore-Barrington region increased 14.3 percent to 1,037. Listings Under Contract were up 29.8 percent to 770. Inventory levels shrank 27.4 percent to 2,921 units. Market Times were down 37.0 percent to 94 days. The monthly average commitment rate for a 30-year, fixed-rate mortgage for the North Shore- North Central region was 4.44 percent in August 2013, up from 4.35 percent in July, according to the Federal Home Loan Mortgage Corp. In August 2012 it averaged 3.60 percent. Portions of the data findings are from NSBAR and MRED. See the supporting analysis data image below (click to enlarge):

SalesVolume-August2013

Fifty-two (52) of 102 Illinois counties reporting to IAR showed year-over-year home sales increases in August 2013. Forty-one (41) counties showed year-over-year median price increases including North Suburban Lake, up 16.1 percent.

Sales and price information is generated by Multiple Listing Service closed sales reported by 31 participating Illinois REALTOR® local boards and associations including Midwest Real Estate Data LLC data as of Sept. 7, 2013 for the period Aug. 1 through Aug. 31, 2013 and will continue into September through October 2013. 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.

With an exceptional standing for top producing high performing Realtor results, Gloria Matlin remains the consummate Chicago-North Shore real estate professional. With more than 30 years of specialized and personalized service, she looks to technology to engage, educate, showcase, and provide the most up-to-date information on the North Shore real estate market. She is located in the North Shore Coldwell Banker office within the Chicago, Illinois suburban village of Glencoe-640 Vernon Ave, 60022.

Real Estate Outcomes May2013: Chicago’s North Shore

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GloMayReport-2013Property Sales

Chicago North Suburban-Glencoe May Property sales were up 17.4% compared to top volume reports in May of 2012 and 13.7% higher than market action results last month. May 2013 North Shore real estate sales were at their highest level compared to May of 2012 and 2011 conditions. May YTD sales are running 26.0% ahead of last year’s year-to-date sales performance.

Prices

The North Shore Median Sales Price in May was down -1.6% from figures produced in May of 2012 and up 2.0% from last month. The Average Sales Price in May was down -2.4% from totals generated in May of 2012 and up 3.0% from last month. May 2013 ASP (average sales price) was at the lowest level compared to May of 2012 and 2011.

 

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 Suburban Buyer’s market exists, a ratio at or above 100% indicates more of a North Suburban Seller’s market. The May 2013 Selling Price vs. List Price of 95.8% was up from 95.5% last month and up from 93.2% in May of last year.

Inventory & MSI

The Total North Shore-Glencoe Inventory of Properties available for sale as of May was down -3.1% from last month and down -38.8% from totals reported in May of last year. May 2013 Inventory was at the lowest level compared to May of 2012 and 2011 historical real estate data.

A comparatively lower MSI is more beneficial for North Shore sellers while a higher MSI is better for North Shore buyers. The May 2013 MSI of 3.2 months was at its lowest level compared with May of 2012 and 2011.

Market Time

The average Days on Market (DOM) shows how many days the average North Shore-Chicago 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 May was up 9.5% compared to last month and down -25.7% in market time in May of last year. The May 2013 DOM was at its lowest level compared with May of 2012 and 2011 totals.

Inventory / New Listings / Sales

The graph displayed above of the market combines monthly inventory of North Shore Properties for sale along with New Chicago’s North Shore Listings and Sales. The graph shows the basic annual seasonality of the North Suburban market as well as the relationship between these items. The number of New Listings in May 2013 was up 0.6% from last month’s totals and up 17.0% from market action reporting in May of last year.

Gloria Matlin, is a Glencoe Realtor, Chicago North Shore resident, Blackhawks fan, and the consummate professional providing top tier performance results for over 25 years.  This report, as well as other North Suburban real estate related information, can be provided at Gloria’s home base-Coldwell Banker Residential Real Estate office located at 640 Vernon Ave in the downtown district of Glencoe, Illinois,60022. Providing the highest service in homes for sale, mortgage options, real estate reporting, homes for rent, or a resource for basic community events, this real estate firm has been among the highest producing offices on the North Shores of Chicago for over 45 years. Stop in today with questions or for real estate guidance.

Real Estate Outcomes April2013: Chicago’s North Shore

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AprilReport-2013Property Sales

April 2013 Chicago– North Suburban Glencoe real estate property sales were up 163.6% compiled against market action data in April of 2012 and topped 50.0% higher than sales performance last month. April 2013 sales totals were at their highest level compared to April of 2012 and 2011. April YTD sales are running 20.0% ahead of last year’s year-to-date sales production reports.

 Prices

The Median North Shore Sales Price in April was up 15.1% from totals released in April of 2012 and up 22.4% from last month. The Average Sales Price in April was up 4.1% compared to outcomes in April of 2012 and up 16.0% from last month. April 2013 ASP (average sales price) was at a mid-range compared to April of 2012 and 2011.

 

Inventory & MSI

The Total Inventory of Properties available on Chicago’s North Shore for sale as of April was equal to last month and down -34.3% from totals in April of last year. April 2013 real estate Inventory was at the lowest level compared to April 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 April 2013 MSI (months’ supply of inventory) of 3.7 months was at its lowest level compared with April of 2012 and 2011 inventory rank.

 Market Time

The average Days on the Market (DOM) shows how many days the average 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 April was 50, down -16.7% from 60 days last month and down -56.1% from 114 days in April of last year. The April 2013 DOM was at its lowest level compared with April of 2012 and 2011 analysis.

Inventory / New Listings / Sales

The summary view of the market above combines monthly inventory of Chicago North Shore 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 April 2013 was up 8.7% compared to last month and down -7.4% from totals ranked in April of last year.

Highest performing Chicago-North Shore Realtor by rank, and within the top 1% of real estate professionals nationwide; Gloria Matlin is your source for optimal service along with an extensive experience base spanning 25+years.  She can be found in the North Suburb’s best producing real estate office-Coldwell Banker in Glencoe, Ill-640 Vernon Ave,60022. Feel free to stop in for questions on this report and other real estate market indicators, analysis, home/property values, projections, conditions, and forecasts. More information HERE and HERE