Glencoe-North Shore Market Trends: Update February-March2013

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The Chicago North Shore Spring season is projected to be bright….home sales increased 31.1% over previous-year real estate figures in January 2013. In addition median prices increased state-wide by 1.2% based on a recent report by the Illinois Association of REALTORS®.

Sustained improvement in the North Shore real estate market was seen throughout a predominant portion 2012, and it is highly probable that figures will remain strong well into the first quarter of 2013.  North Suburban sales volumes and inventory levels for January 2013 are notable. Inventory levels shrank 38.9% to 2,617 units.   This indicates sustained buyer confidence in conjunction with ongoing and appealing buyer incentives; as supported by data provided by the NORTH SHORE BARRINGTON ASSOCIATION OF REALTORS® and MIDWEST REAL ESTATE DATA LLC:

SupplyDemand-Jan-13

The monthly average commitment rate for a 30-year, fixed-rate mortgage for the North Central region was 3.40 percent in January 2013, up from 3.32 percent during the previous month, according to the Federal Home Loan Mortgage Corp. Last January it averaged 3.92 percent. . Interest rates are slowly moving higher in some regions, though the affordability picture remains extremely attractive.

Fifty-nine (59) of 102 Illinois counties including North Suburban Cook showed year-over-year home sales increases in January 2013. Fifty (50) counties showed year-over-year median price increases with cook up 3.1%. New Listings in the North Shore-Barrington region increased 2.6 percent to 836. Listings under Contract were up 41.4% according to data from NSBAR and MRED:

 NewListings-Jan-13

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 Feb. 7, 2013 for the period Jan. 1 through Jan. 31, 2013; the process repeated in March 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.

Gloria Matlin, Realtor, top producer, Chicago North Suburban resident, can be your trusted luxury real estate guide. She has been representing Glencoe’s highest ranking residential brokerage office for over 25 years. Feel free to stop by the office located at 640 Vernon Ave-60022, in the downtown district to discuss this or similar reports. Coldwell Banker, your resource for analysis, projections, history, impeccable service, or simply to gain information on North Shore-Chicago communities.

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Real Estate Outcomes November2012: Chicago’s North Shore

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GloNovReport2012Property Sales

November 2012 Chicago North Shore-Glencoe property sales surged 50.0% based on volume figures from November 2011, and 33.3% higher than top sales last month. November 2012 sales were at their highest level compared to November of 2011 and 2010 data. November YTD sales ran 14.3% ahead of last year’s year-to-date sales reporting.

Prices

The Median North Suburban-Glencoe Sales Price in November was down -36.6% from sales data reported in November of 2011 and down -16.0% from last month. The Average Sales Price in November was down -37.6% compared to November of 2011 and down -31.6% from last month. November 2012 ASP (average sales price) was at the lowest level compared to November of 2011 and 2010 data.

Inventory & MSI

The Total Inventory of North Shore Properties available for sale as of November was down -5.2% from last month and down -27.7% from November of last year. November 2012 Chicago North Shore Glencoe Inventory was at the lowest level compared to November of 2011 and 2010. MSI is the number of months needed to sell all of the inventory at the monthly sales pace.

A comparatively lower MSI is more beneficial for North Shore sellers while a higher MSI is better for North Shore buyers. The November 2012 MSI of 6.1 months was at its lowest level compared with November of 2011 and 2010.

Market Time

The average North Shore Days On Market (DOM) shows how many days the average North Shore-Glencoe 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 November was down -28.1% from last month and down -71.3% from sales history data in November of last year. The November 2012 DOM was at its lowest level compared with November of 2011 and 2010 figures.

Inventory / New Listings / Sales

The view of the market above combines monthly inventory of Chicago North Shore Glencoe Properties for sale along with New North Shore 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 November 2012 was down -14.3% from last month and up 100.0% from November of last year outcomes data.

Gloria Matlin, a North Shore Chicago Broker/Agent with a compelling 25+ year record of sustained real estate results; can be found in the Coldwell Banker Residential Real Estate office located in prestigious downtown Glencoe, Illinois-60022. Visits are encouraged to discuss market reports, sales, figures, ranking, predictions, conditions, insight, even holiday community events.

Real Estate Outcomes September2012: Chicago’s North Shore

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Property Sales

North Shore-Glencoe market action report for September 2012 Property sales volume reflects an upward trend of 42.9% compared to September of 2011. September 2012 sales topped at their highest level compared to September of 2011 and 2010. September YTD sales are running 16.0% ahead of last year’s best figures.

Prices

The North Suburban Median Sales Price in September was up 35.5% from $440,000 in September of 2011 and down -26.2% from $807,500 last month. The Average Sales Price in September was down -18.2% compared to data in September of 2011 and down -26.5% from last month. September 2012 ASP was at the lowest level compared to September of 2011 and 2010 figures.

Inventory & MSI

The Total Chicago North Shore Inventory of Properties available for sale as of September was down -2.4% in relation to last month and down -30.2% in September of last year. September 2012 sales Inventory was at the lowest level compared to September of 2011 and 2010 on Chicago’s North Shore.

A comparatively lower MSI is more beneficial for North Shore sellers while a higher MSI is better for North Shore buyers. The September 2012 MSI of 8.1 months was at its lowest level compared with September of 2011 and 2010.

Market Time

The average 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 Buyer’s market, a downward trend a move towards more of a Seller’s market. The DOM for September was equal to 73 days last month and up 12.3% from 65 days in September of last year. The September 2012 DOM was at a mid-range compared with closed sales data in September of 2011 and 2010.

Inventory / New Listings / Sales

The view above of the Chicago-North Shore real estate market combines monthly inventory of Properties for sale along with New Listings and Sales. The graph shows the basic annual seasonality of the North Shore market conditions as well as the relationship between these items. The number of New Listings in September 2012 was down -28.0% from last month and up 12.5% in September of 2011.

Gloria Matlin can be found at 640 Vernon Ave, in downtown Glencoe, Illinois-60532. This office, top ranked on Chicago’s North Shore, for well over 40 years is a community standard. Any of our top performing Broker/Realtors can assist you. Let our well established experience and high producing staff guide you through market conditions, reports, buying, selling, renting, or general questions about the North Shore-Chicago area.

For additional market action reports on Chicago’s North Shore visit HERE and select communities-reports on the left dashboard.

What a great way to take in the beauty of autumn-Chicago’s North Shore-Glencoe

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What a great way to take in the beauty of autumn on Chicago’s North Shore-Glencoe…. http://ht.ly/eeNKy

Glencoe-North Shore Market Trends: Update August-September2012

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Sustained progress! North Shore-Chicago August 2012 real estate home sales hit a top surge of 23.7% over previous year volume data, part of a 14-month continual run of sales increases based on figures recently released by the Illinois Association of REALTORS®.

More than half of Illinois counties reporting, including Cook and Lake showed year-over-year home sales increases in August 2012. In the nine-county Chicago Primary Metropolitan Statistical Area (PMSA), home sales (single family and condominiums) in August 2012 totaled 9,240 homes sold, up 28.5 percent from August 2011 sales of 7,188 homes.

Statewide home sales including North Suburban Chicago, (including single-family homes and condominiums) in August 2012 totaled 13,264 homes sold, up from 10,721 home sales in August 2011. IAR has seen year-over-year increases since July 2011, and the data reflects a 7 percent gain over July 2012’s sales of 12,392 units.

Signs of a turn-around continue to be a solid reality on Chicago’s North Shore, with homes selling and prices increasing/stabilizing. Listings under contract in the North Shore region were up 47.1%. Inventory levels shrank 31.4%.  Market times were down 14.6%. Mortgage rates appear to sustain buyer and seller appeal with historic lows. The monthly average commitment rate for a 30-year, fixed-rate mortgage for the Chicago North Suburban-North Central region was 3.60 percent in August 2012, up from 3.54 percent during the previous month, according to the Federal Home Loan Mortgage Corp. Last year in August it averaged 4.26 percent. This information is supported and displayed in the figure below care of the North Shore-Barrington Association of Realtors and MRED (click to enlarge):

Among trends emerging in August was how foreclosed/distressed properties are beginning to work through the court system stated Dr. Geoffrey J.D. Hewings, Director of the Regional Economics Applications Laboratory of the University of Illinois. He added the data suggests foreclosure resolutions are now “clearing the market more rapidly than new additions.”  Again, this information is supported and displayed in the figure below care of the North Shore-Barrington Association of Realtors and MRED (click to enlarge):

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-October 2012 for the period Aug. 1 through Aug. 31, 2012. 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 at www.illinoisrealtor.org/marketstats.

Glencoe Garage Sale 2012-Visit our North Shore Real Estate Office for Details!

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Glencoe, Ill will be the location for the annual Chicago North Shore garage sale, Sunday September 9th between 10-am to 4pm. Sign up by September 5th to reserve a garage sale kit!  Sign up will be done at 640 Vernon Ave- Coldwell Banker Residential Real Estate office. Call 847-835-0236 or 847-727-8700 for additional details!

Remember these top 5 garage sale tips:

 

Tip 1:

Garage sales can be a great way to get rid of clutter and earn a little extra — especially before buying or selling a home.

Tip 2:

Don’t wait until the final hour. Depending on how long you’ve lived in the home and how much stuff you have to sell, planning a garage sale can demand some prep and setup time.

Tip 3:

See if neighbors want to help or join in. You can turn your garage sale into a block-wide event and lure more shoppers if you team up or talk with your neighbors.

Tip 4:

Create an organized display. Lay out items by category, and display neatly so customers don’t have to struggle to find goods. They will appreciate the thoughtfulness and may return in kind with multiple items to purchase.

Tip 5:

Have  bags and newspapers handy. People who buy many small items will appreciate a bag to carry their goods. Newspapers are ideal for wrapping fragile items.

Real Estate Outcomes July2012: Chicago’s North Shore

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Property Sales

North Shore real estate data compiled for July 2012, reported property sales up 70.0% from July of 2011 and -22.7% lower than sales in the month of June2012. July 2012 sales were at their highest level compared to July of 2011 and 2010. July YTD sales are running 2.4% ahead of last year’s year-to-date volume figures.

Prices

Chicago’s North Suburban Median Sales Price in July was up 83.1% based on 2011 data and down -12.3% from last month. The Average Sales Price in July2012 was up 43.1% based on 2011 reports and down -13.5% from last month. July 2012 ASP was at a mid range compared to July of 2011 and 2010.

Inventory & MSI

The Total Inventory of Properties for Chicago’s North Shore-Glencoe, available for sale as of July was 79, down -8.1% from 86 last month and down -42.3% from 137 in July of last year. July 2012 Inventory was at the lowest level compared to July of 2011 and 2010.

A comparatively lower MSI is more beneficial for North Shore sellers while a higher MSI is better for North Shore buyers. The July 2012 MSI of 4.6 months was at its lowest level compared with July of 2011 and 2010.

Market Time

The average 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 July was 120, up 25.0% from 96 days last month and up 69.0% from 71 days in July of last year. The July 2012 DOM was at its highest level compared with July of 2011 and 2010.

Inventory / New Listings / Sales

The picture above provides a view of the market combining monthly inventory of North Shore Properties for sale along with New North Shore Listings and Closed 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 North Shore-Glencoe Listings in July 2012 was 23, down -4.2% from 24 last month and down -32.4% from 34 in July2011 of last year.

With over 45 years of reliable and unparalleled service, any of our North Suburban-Glencoe real estate agents and/or brokers can assist you. We are located in the main downtown area of Glencoe, IL-640 Vernon Ave, 60022-Coldwell Banker Residential Real Estate office.

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