Top 3 Perks to Buying a Home During Autumn 2018-North Shore Real Estate

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Yes, it’s common to hear people talk about Chicago North Shore real estate trends for the fall season. The cyclical nature of real estate is usually associated with fluctuating interest rates, changing incentive packages, and other economic factors. But were you aware that the real estate market is also influenced by the time of year, also known as the seasons?

A close second to spring, fall is the busiest North Shore real estate selling and buying time of the year. Although you can buy and sell houses at any time, the North Suburban Shores’ fall real estate market offers certain benefits to home buyers, including year-end tax breaks, pleasant weather conditions for moving, often a wider selection of houses, to name a few benefits.

To give you an idea of the home-buying advantages you can enjoy during the beautiful Chicago North Shore months, here is a more detailed look into the perks of buying a home during this time-frame:

1. Getting ahead of nature

Buying a house before the deep freeze of winter sets in is very appealing to most home buyers. Low temperatures and poor weather conditions may make moving a little more difficult. Furthermore, by wintertime, most kids have settled into school, established friendships, and become involved in extra-curricular activities. By moving in early autumn, not only do you avoid interrupting your children’s schooling (or higher educational pursuits in the case of teen and adult family members), but you gain the added benefit of eluding the summer temps.

2. Important first time buyer tip

Given that fall is the second busiest season of the year for buying and selling houses, you may be tempted to put a bid on a home that is out of your price range for fear that another buyer will better your offer or snatch it before you. Carefully assess your financial situation ahead of time and before your feet hit the pavement, know what your ceiling is and stick to it like glue. Remember: Just as there are many fish in the sea, there are many houses in the real estate market now and certainly in the future.

 3. Year-end tax breaks to keep in mind

Come September and October, people are already starting to think about what year-end tax breaks they may be eligible for. Fortunately for homebuyers, owning a home can yield great dividends in tax returns. For example, both mortgage interest and property taxes are deductible from gross income. Furthermore, if you have prepaid some interest before the due date of your first payment and you close your loan before the year’s end, that amount will also be deducted. Don’t miss out on finding your dream house; it’s a good idea to examine the classified ads more often since the listings are updated more frequently. More info HERE

With top ranking results and personalized service no matter the season, Gloria Matlin along with partner Zack Matlin are ahead of market trends and understand the benefits of selling, buying or both during this season. Over 2 decades of high sales/production results and exceptional client-centered performance, Gloria Matlin is a consummate expert within the Chicago North Shore real estate profession.  She calls Glencoe’s Coldwell Banker Residential Real Estate office home-640 Vernon Avenue, 60022….The center of the downtown district.

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Real Estate Outcomes September2013: Chicago’s North Shore

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NS-Sept-2013Property Sales

Ongoing progress…Chicago North Shore September Property sales were up 35.7% from market action report totals calculated in September of 2012 and -30.1% lower than sales last month. September 2013 North Shore sales were at their highest level compared to September of 2012 and 2011. September YTD sales ran 27.0% ahead of last year’s year-to-date sales outcomes.

Prices

The North Shore-Chicago Median Sales Price in September was up 11.1% from final sales volume amounts in September of 2012 and down -3.2% from data posted last month. The Average North Shore Sales Price in September was up 18.7% from totals in September of 2012 and down -3.1% from last month’s final data. September 2013 ASP was at highest level compared to September of 2012 and 2011.

Inventory & MSI

The total North Suburban-Chicago Inventory of Properties available for sale as of September was down -1.7% from totals last month and down -28.5% from inventory totals in September of last year. September 2013 Inventory was at the lowest level compared to September 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 September 2013 MSI of 3.8 months was at its lowest level compared with September of 2012 and 2011.

Market Time

The average North Shore-Chicago 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 September was 56, up 12.0% from 50 days last month and down -34.9% from 86 days in September of last year. The September 2013 DOM was at its lowest level compared with September of 2012 and 2011.

Inventory / New Listings / Sales

The view above of the market combines monthly inventory data of properties for sale along with new North Shore listings and sales. The graph totals show the basic annual seasonality of the market as well as the relationship between these items. The number of New North Shore Listings in September 2013 was up 3.2% from last month and up 26.3% from final figures gathered in September of last year.

Recently ranking as one of the top producing North Shore real estate professionals for the 2nd quarter of 2013, Gloria Matlin sustains optimal performance with grace, tenacity and personalized service.  Staying ahead of the market for over 25 years, look to her for feedback on this and similar market action reports. Gloria Matlin is located at the Glencoe, Illinois Coldwell Banker Residential real estate office, within the downtown village center-640 Vernon Avenue, 60022.

 

Real Estate Outcomes June2013: Chicago’s North Shore

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JuneRealEstateReportsProperty Sales

North Shore-Chicago June Property sales were up 25.8% from market action reports as of June of 2012 and 17.5% higher than the average sales volume last month. June 2013 sales were at their highest level compared to June of 2012 and 2011. June YTD sales of 1,876 are running 27.6% ahead of last year’s year-to-date sales of 1,470 real estate totals.

Prices

The Median North Shore Sales Price in June was up 7.7% compared to June of 2012 and up 17.4% from last month. The Average Sales Price in June was up 4.7% from totals listed in June of 2012 and up 19.0% from  totals published last month. June 2013 ASP (average sales price) was at highest level compared to June of 2012 and 2011.

Inventory & MSI

The Total Inventory of Chicago North Suburban Properties available for sale as of June was down -2.1% from last month’s market action totals and down -33.5% from totals in June of last year. June 2013 Inventory was at the lowest level compared to June 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 June 2013 MSI of 2.7 months was at its lowest level compared with June of 2012 and 2011.

Market Time

The average Days On on the North Shore 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 Seller’s North Shore market. The DOM for June was 70, down -12.5% from 80 days last month and down -18.6% from 86 days in June of last year. The June 2013 DOM was at its lowest level compared with June of 2012 and 2011.

Selling Price vs Listing Price

The Selling Price vs Listing Price reveals the average amount that Chicago 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 June 2013 Selling Price vs List Price of 96.3% was up from 95.8% last month and up from 94.0% in June of last year.

Inventory / New Listings / Sales

The image above of the North Shore market combines monthly inventory of 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 Suburban Listings in June 2013 was 645, down -4.7% from 677 last month and up 21.9% from 529 in June of last year.

A Chicago North Shore Realtor, Gloria Matlin remains a top performer, ranking high nationally for her ongoing personable and tenacious real estate approach. She produces consummate results centered around the needs and wishes of her clients, and has for over 25 years. Look to her for real estate updates, reports, data, insight, market conditions, action reporting, trends, and even local north shore events or places to go. She is located in the North Shore’s top selling real estate office-Coldwell Banker residential real estate, 640 Vernon Ave, Glencoe, Illinois-60022.