Real Estate Outcomes October2013: Chicago’s North Shore

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Oct-2013North ShoreProperty Sales

North Shore-Chicago October 2013 Property sales were UP 13.8% compared to market action report data released in October of 2012 and -11.6% lower than sales figures calculated last month. October 2013 sales were at their highest level compared to October of 2012 and 2011. October YTD sales are running 26.0% ahead of last year’s year-to-date sales volume totals.

Prices

The Median Northern Shore-Chicago Sales Price in October 2013 was up 14.3% compared to figures in October of 2012 and down -10.3% from last month. The Average North Shore Sales Price in October was up 14.9% from sales totals in October of 2012 and down -5.9% from last month. October 2013 ASP was at highest level compared to October of 2012 and 2011.

Inventory & MSI

The Total Inventory of Chicago-North Shore Properties available for sale as of October was down -10.6% from reporting totals last month and down -27.5% from totals in October of last year. October 2013 Inventory was at the lowest level compared to October 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 October 2013 MSI of 4.0 months was at its lowest level compared with October of 2012 and 2011.

Market Time

The average North Shore 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 October was up 17.9% from 56 days last month down -25.0% compared to October of last year. The October 2013 DOM was at its lowest level compared with October of 2012 and 2011.

Inventory / New Listings / Sales

The North Shore-Chicago view of the 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 Listings in October 2013 was down -22.5% from market reporting totals last month and up 4.5% from figures in October of last year.

Consistent producer in the top 1% of agents in the nation. Ranking in the top tier of North Shore Chicago Realtors for over three decades. A relocation expert with a keen sense of marketing, promotion, technology, real estate conditions along with community involvement and area insight. A trusted resource providing the highest level service with tenacity, grace, and a focused /sincere attention to detail. Gloria Matlin embodies these descriptive phrases and more.  She can be found in the high performing Coldwell Banker Residential Real Estate office, 640 Vernon Avenue, Glencoe, Ilinois-60022.

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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.

We Believe!

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Happy First days of Fall/Autumn! See the video that captures, and certainly can represent the comforts of home as well as this special time of year…

Agent Horizon

Coldwell Banker® has one of the best ads on tv.  It emotionally connects with the true value of a home, by showing friends celebrating, kids baking and jumping on the bed, and many of the other moments we enjoy in our home.  Sometimes agents get caught up in the numbers and “the market” dictating value in a home, and this commercial reminds us that regardless of numbers, the real value is in the memories and moments we create.

The newest addition to this campaign is the Coldwell Banker International Film Festival.

From September 9-27 the festival will showcase films on the value of home from around the world!  Brazil, Mexico, India, South Africa, China, Portugal, US and the United Arab Emirates will all be showcased.  An avid film fan myself, I am so excited to showcase these films in our new client lounge at the Coldwell Banker Horizon Realty…

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Glencoe-North Shore Market Trends: Update August-September2013

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Great gains and double digits….North Shore-Chicago, Illinois home sales surged 28.5% over previous-year sales market action reporting levels in July, in addition median prices increased 14.2%, based on the recent market analysis statement from the Illinois Association of REALTORS®; providing yet another indication of a strong summer for the North Shore region housing market.

Although interest rates have slightly increased in the past months, momentum and strong interest in home purchasing on the part of sellers has not slowed. North Shore-Chicago buyers and sellers are moving away from the sidelines as they see the markets favorable indicators.  New Listings in the North Shore-Barrington region increased 9.3 percent to 1,175. Listings Under Contract were up 31.7 percent to 790. Inventory levels shrank 29.3 percent to 2,976 units.  The Median Sales Price increased 2.5 percent. Market Times were down 47.4 percent to 93 days. Information provided by the North Shore Barrington Association of Realtors and Midwest Real Estate Data, LLC. See the supporting figures in the image below (click to enlarge):

NorthShore-MarketOverview-July2013

The monthly average commitment rate for a 30-year, fixed-rate mortgage for the North Central-North Shore region was 4.35 percent in July 2013, up from 4.09 percent during the previous month, according to the Federal Home Loan Mortgage Corp. Last July it averaged 3.54 percent. See historical images below (click to enlarge):

MortgageRates-July2013

Sixty-one (61) of 102 Illinois counties reporting to IAR showed year-over-year home sales increases in July 2013. Forty-nine (49) counties showed year-over-year median price increases including Lake, up 15.2 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 Aug. 7, 2013 for the period July 1 through July 31, 2013 and will start again in August 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.

The Illinois Association of REALTORS® is a voluntary trade association whose 41,000 members are engaged in all facets of the real estate industry. In addition to serving the professional needs of its members, the Illinois Association of REALTORS® works to protect the rights of private property owners in the state by recommending and promoting legislation to safeguard and advance the interest of real property ownership.

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

Gloria Matlin, a Chicago North Shore resident, die-hard Chicago Blackhawks fan, national top producing real estate professional for over 25 years, trusted local North Shore area resource, and above all tenaciously committed to making North Shore real estate dreams come true; through optimal service with a personable approach. Look to her for answers regarding local North Shore market action report analysis, data, history, projections, or simply to find out about local community happenings/events/things to do/places to go. She calls Glencoe’s Coldwell Banker Residential Real Estate office home–640 Vernon Avenue, 60022. Have a safe and funLabor Day holiday weekend

How to Prepare Your Home for Internet Exposure-North Shore Real Estate

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IdealRoomsThe facts are clear, more Chicago North Shore buyers shop for homes on the web, therefore photos and virtual tours have become the norm. There are several things you can do make your home stand out on camera, and be a shining North Suburban Chicago internet star. See the 7 tips listed below for starters:

1. Keep the home looking its best. You want buyers who liked what they saw online to encounter the same home in person.

2. Put away & pack up the clutter. But leave three items of varying heights on each surface. For example, on an end table you can place a lamp (high), a small plant (medium), and a book (low).

3. The home should be “white cloth” clean. Because the camera magnifies grime, each room must be spotless. Don’t forget floor coverings and walls; a discolored spot on the rug might be overlooked by prospects during a regular home showing, but that stain becomes a focal point for online viewers.

4. Take a few pictures. This will give you an idea of what the home will look like on camera. Closely examine the photos and list changes that would improve each room’s appearance: opening blinds to let in natural light, removing magnets from the refrigerator, or taking down distracting art.

5. Remember the camera’s perspective. The camera’s eye is very different from the human eye. It magnifies clutter and poor furniture arrangement. To make a home shine in a virtual tour or video presentation, cater to the lens.

6. Down grade the furniture count. Identify one or two pieces of furniture that can be removed from each room to make the space appear larger.

7. Add balance &  some flare. Include a healthy plant in every room; the camera loves green. Energize bland decor by placing a bright vase on a mantle or draping an afghan over a couch.

Gloria Matlin, a Northern Shore-Chicago real estate resource with a compelling record of client centered successes for well over 25 years.  She looks to technology as one of the many highly valued tools to market, promote, engage, display, highlight, inform, update, and educate sellers and buyers alike. Her top performing, and personable business savvy keeps her ahead of the North Shore real estate market and allows her to optimally produce stunning and efficient results.  She is located in the heart of North Shore Glencoe’s downtown district; Coldwell Banker Residential real estate office- 640 Vernon Ave, 60022.

Glencoe-North Shore Market Trends: Update June-July2013

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The best in 6 years! North Shore Chicago, Illinois home sales increased 24.4 percent over previous-year volume in May and median prices increased 6.9 percent based on recent market action reporting from the Illinois Association of REALTORS®. This update represents the 23rd consecutive months of year-over-year sales increases in the north suburban Chicago area and the strongest May since 2006 when 17,622 homes were sold statewide.

Within Chicago’s North Shore, buyers are still highly motivated and steadily increasing housing market figures. Home prices reflect the strong demand and high sales results, approaching pre-recession status, a stable sign that the market has rebounded. In addition, despite a slight increase the average commitment rate for a 30-year, fixed-rate mortgage for the North Central region at 3.55 percent in May 2013, up from 3.42 percent during the previous month; the rates are still appealing compared to Last May when they averaged 3.83 percent. Information provided by the Federal Home Loan Mortgage Corp. Lastly, it is important to highlight that market time within the North Shore area and throughout the state dropped substantially in May with listings averaging 69 days until sale, a 25 percent drop compared to 92 days in May 2012.  See supporting data in the image below from The North Shore Barrington Association of Realtors and Midwest Real Estate Data LLC (click to enlarge):

ListPriceData-May2013

 

According to Geoffrey J.D. Hewings, Director of the Regional Economics Applications Laboratory of the University of Illinois, “all the indicators point to a strong three-month period of growth, even in median prices. Mortgage rates are starting to inch upwards but the rates are still attractive enough not to dampen the momentum”.

ViewMag-GloriaMatlin

Fifty-nine (59) of 102 Illinois counties reporting to IAR showed year-over-year home sales increases in May 2013. Forty-nine (49) counties showed year-over-year median price increases including North Suburban Cook, up 9.4 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 June 7, 2013 for the period May 1 through May 31, 2013 and into June and July of 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.

The Illinois Association of REALTORS® is a voluntary trade association whose 41,000 members are engaged in all facets of the real estate industry. In addition to serving the professional needs of its members, the Illinois Association of REALTORS® works to protect the rights of private property owners in the state by recommending and promoting legislation to safeguard and advance the interest of real property ownership.

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

As a trusted real estate resource on the North Shore’s of Chicago for well over 25 years, Gloria Matlin provides timely market updates like the above blog post each month. Follow this blog for ongoing market action reports, history and real estate conditions analysis, North Shore homes for sale, North Shore homes for rent, recent sales, as well as Chicago Northern Community-places to go, things to do and top rated events.

Have a great 4th of July Holiday!  More holiday and summer events on the North Shore of Chicago can be found HERE and HERE.

 

Glencoe-North Shore Market Trends: Update April-May2013

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North Shore Chicago Real Estate is off to a HOT start for spring!…..According to the Illinois Association of REALTORS®, Illinois home sales increased 13.6% over previous-year data in March and median prices increased 3.6%. Statewide home sales including the North Suburban area in March 2013, totaled 10,992 homes sold, up from 9,679 in March 2012. Statewide real estate market action reports showed monthly year-over-year gains since July 2011.

This period traditionally marks the busiest time in a year for the North Shore real estate market. Currently, listings under Contract were up 36.1%. Inventory levels shrank 40.4% to 2,608 units. Two factors to highlight are the reduced market times before a home sells, along with reduced inventory levels. They support the current intense interest home-buyers have to take advantage of low prices that will ultimately increase, and locking in a desirable interest rate. This is an ideal time for sellers to list homes and sell quickly if priced right. The North Suburban Chicago Spring real estate market is thriving and benefiting buyers and sellers alike. See supporting data from The North Shore-Barrington Association of Realtors and Midwest Real Estate Data LLC  in the image below (Click to enlarge):

April-MarketTime

The monthly average commitment rate for a 30-year, fixed-rate mortgage for the North Central-North Suburban region was 3.54 percent in March 2013, up from 3.49 percent during the previous month, according to the Federal Home Loan Mortgage Corp. Last March it averaged 3.99 percent.

Director of the Regional Economics Applications Laboratory of the University of Illinois, Dr. Geoffrey J.D. Hewings stated: “The inventory in both the state and Chicago markets suggest that demand has begun to return to the housing market.” Forty-four (44) of 102 Illinois counties, including the north suburbs of cook and Lake Counties, showed year-over-year home sales increases in March 2013.

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 April 7, 2013 for the period March 1 through March 31, 2013 and will continue with real estate updates in April 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 a real estate professional with a long-standing and compelling record of top producing accomplishments in the North Suburbs of Chicago.  She has been a trusted resource providing unparalleled Chicago-North shore real estate insight, performance, knowledge, expertise, and sound guidance for over 25 years. Visit her home base-Coldwell Banker Residential Real Estate office located in Glencoe: 640 Vernon Ave, 60022; or find her HERE for the latest trends, market reports, data, relocation options-designations, and information on her unique client driven approach to real estate.