Real Estate Outcomes August2014: Chicago’s North Shore

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Monthly Market Update (Click to Play)

Monthly Market Update (Click to Play)

Prices

The Chicago North Shore real estate market continues on a path of progress with the Median Sales Price in August up 12.0% from market action reporting in August of 2013 and up 14.5% from last month. The Average Sales Price in August was up 17.6% compared to August of 2013 and up 13.5% from last month. August 2014 ASP was at highest level compared to August of 2013 and 2012.

 Property Sales

August North Shore Property sales were down -13.9% from sales figures in August of 2013 and -8.3% lower than the sales totals last month. August 2014 sales were at a mid-level compared to August of 2013 and 2012. August YTD sales of 2,765 are running -12.2% behind last year’s year-to-date sales of 3,150.

 

Inventory & MSI

The Total Inventory of North Shore-Chicago Properties available for sale as of August 2014 was down -2.5% from figures calculated last month and up 14.3% from totals in August of last year. August 2014 Inventory was at a mid-range compared to August of 2013 and 2012. A comparatively lower MSI is more beneficial for North Shore sellers while a higher MSI is better for North Shore buyers. The August 2014 MSI of 3.5 months was at a mid-range compared with August of 2013 and 2012.

 Selling Price vs Listing Price

The Selling Price vs Listing Price reveals the average amount that 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 August 2014 Selling Price vs List Price of 96.4% was down from 96.7% last month and down from 96.8% in August of last year.

 MarketAction-GM-August2014

Inventory / New Listings / Sales

This view above of the market 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 real estate markets as well as the relationship between these items. The number of New Listings in August 2014 was down -16.4% from market action totals last month and up 13.1% from figures noted in August of last year.

Often thought of as the consummate North Shore real estate professional, Gloria Matlin has a client centered style that focuses on elite real estate service and attention.  With over 25 years of top ranking, high producing accomplishments, a precise sense of area market trends and forecasts, she enjoys making dreams come true with each and every one of her clients.  Look to her for optimal performance with a sincere and personable approach to buying, selling, investing or even relocation related real estate endeavors. She calls Coldwell Banker residential real estate her home office-640 Vernon Avenue, Glencoe, Illinois.

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Real Estate Outcomes July2014: Chicago’s North Shore

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Glencoe-MarketReport

Monthly Market Update (Click to Play)

Prices

More great news for late summer 2014…The Median Chicago North Shore Sales Price in July was up 2.1% from market action reporting in July of 2013 and down -0.9% from sales figures reported last month. The Average Sales Price in July was up 6.3% from totals calculated in July of 2013 and down -2.0% from last month. July 2014 ASP was at highest level compared to July of 2013 and 2012.

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 Buyer’s market, a downward trend a move towards more of a Seller’s market. The DOM for July was 40, down -20.0% from 50 days last month and down -27.3% from 55 days in July of last year. The July 2014 DOM was at its lowest level compared with July of 2013 and 2012.

Property Sales

July Chicago-North Shore Property sales were down -11.9% from totals in July of 2013 and -5.1% lower than sales totals last month. July 2014 sales were at a mid-level compared to July of 2013 and 2012. July YTD sales are running -12.0% behind last year’s year-to-date sales.

Inventory & MSI

The Total Inventory of Northern Shore Properties available for sale as of July was up 2.6% from last month and up 6.6% from July of last year. July 2014 Inventory was at a mid-range compared to July of 2013 and 2012.

A comparatively lower MSI is more beneficial for North Shore sellers while a higher MSI is better for North Shore buyers. The July 2014 MSI of 3.8 months was at a mi- range compared with July of 2013 and 2012.

Inventory / New Listings / Sales

This summary view below of the North Shore-Chicago 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 Shore Listings in July 2014 was down -14.1% from market action reporting total last month and up 3.3% from figures in July of last year.

July2014MarketAction-GM

With over 25 years of the highest quality North Shore real estate service, a sincere and client focused approach to making North Shore real estate dreams come true, Gloria Matlin is the ideal professional you want representing you. Her consummate professionalism, kind nature, tenacious and profoundly knowledgeable style will ensure you can make confident real estate decisions. Whether relocating, downsizing, upsizing, investing, or simply inquiring, she is the trusted resource with a keen and accurate pulse on the current Chicago North Shore real estate market.  Her office is located at 640 Vernon Avenue, Glencoe, Illinois, 60022-Coldwell Banker Residential Real Estate.

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.

Real Estate Outcomes December2013: Chicago’s North Shore

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Dec2013Property Sales

Great beginning of the 2014 year news! Chicago North Shore December Property sales equal the same total sales volume results as listed in December of 2012 and 14.2% higher than sales market action reporting last month. December 2013 sales were at a mid-level compared to December of 2012 and 2011. December YTD sales of are running 21.7% ahead of last year’s year-to-date sales volume totals.

Prices

The Median North Shore Sales Price in December was up 32.0% in December of 2012 and down -0.7% from sales volume reported last month. The Average Sales Price in December was up 7.6% from final totals in December of 2012 and down -4.2% compared to market reporting last month. December 2013 ASP was at highest level compared to December of 2012 and 2011.

Inventory & MSI

The Total Chicago North Shore Inventory of Properties available for sale as of December was down -19.1% from last month and down -32.4% from totals calculated in December of last year. December 2013 Inventory was at the lowest level compared to December of 2012 and 2011. A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The December 2013 MSI of 3.2 months was at its lowest level compared with December of 2012 and  2011.

Market Time

The average Northern 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 December was 55, down -11.3% from 62 days last month and down -45.5% from 101 days in December of last year. The December 2013 DOM was at its lowest level compared with December of 2012 and 2011.

Selling Price vs Listing Price

The Chicago North Shore Selling Price vs Listing Price reveals the average amount that North Shore Sellers are agreeing to come down from their list price. The lower the ratio is below 100% the more of a North Shore Buyer’s market exists, a ratio at or above 100% indicates more of a  North Shore Seller’s market. The December 2013 Selling Price vs List Price of 95.7% was down from 96.0% last month and up from 93.3% in December of last year.

Inventory / New Listings / Sales

The view highlighted above of the North Shore real estate market combines monthly inventory of North Shore 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 December 2013 was 194, down -27.9% from last month and up 7.2% from total market action reports in December of last year.

With a new year brings the hope of prosperity, good health, and continued results. Gloria Matlin predicts a year filled with top performing, client centered, high ranking, and sincerely focused North Shore real estate outcomes. With over 30 years of trusted experience, she is a faithful Chicago North Shore buyer/seller advocate and accomplished, nationally recognized real estate professional.  Look to her for questions on this year’s proposed real estate expectations for 2014. Gloria calls Coldwell Banker’s Residential Real Estate office in Glencoe, Illinois, her business home-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.

Rates Fall, Mortgage Apps Climb:North Shore Market News

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Mortgage applications rose 9.3% this past week as borrowers refinanced their
home loans at exceptionally low interest rates.

The Mortgage Bankers Association said refinancing apps grew
dramatically, with the refi index jumping 11.2%, after the Fed announced it
would move its portfolio towards longer-term Treasury securities.

Meanwhile, the purchase index grew 2.6%, suggesting an increase in new home
applications at the lower interest rates.

“With lower rates, refinance application volume increased to its highest
level since August 19, 2011,” said Mike Fratantoni, the MBA’s vice president of
research and economics.  “Purchase application volume also increased. However,
the increase was in conventional purchase applications, which were up by 4.9
percent. Purchase applications for government loans fell by 0.6 percent over the
week, likely influenced by the pending decline in FHA loan limits.”

The refinancing share of mortgage activity grew to 79.7% of all applications,
up from 78.3% the previous week..MORE

North Shore-Glencoe Real Estate Trends: August2011

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“Housing sales in Illinois and the nine-county Chicago region increased in August and positive year-to-year changes are forecast in both the Chicago PMSA and Illinois for the next three months of September, October and November,” said Dr. Geoffrey J.D. Hewings, director of the Regional Economics Applications Laboratory (REAL) of the University of Illinois.

“A strong buyer’s market continues in the Illinois housing market with record low mortgage interest rates and lower home prices although job worries and overall economic uncertainty are holding many back,” said REALTOR® Sheryl Grider Whitehurst, ABR, CRB, GRI, e-PRO, president of the Illinois Association of REALTORS® and a managing broker for Traders Realty in Peoria. “In some local markets prices are firming as homes are selling due to high affordability conditions and pent-up demand; 8.5 percent more homes sold statewide in August compared to the previous month of July.”

Adds Hewings: “Once again the debate has been joined about the appropriate response from the federal government to the lagging economy—attention to the deficit or a second stimulus package—but increasingly consumers are signaling frustration with Washington politics. The uncertainties and lack of a clearly articulated economic recovery strategy combine to dampen prospects for a sustained housing recovery.”

Sales and price information is generated from a survey of Multiple Listing Service sales reported by 32 participating Illinois REALTOR® local boards and associations including Midwest Real Estate Data LLC data as of September 7, 2011 reported for the period August 1 through August 31, 2011. 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 44,000 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 that safeguards and advances the interest of real property ownership.

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

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