How's the Market as of May 1, 2018?

Hello May.   I feel like we've skipped spring this week and went straight to summer.    After such a longggg winter, it's nice to see the greenery appearing, albeit quickly!  

And how about real estate on the North Shore?  The first report shows units sold, the second presents the median prices.   Only Winnetka and Northfield saw a decline in sales this month.   The other communities had more sales.   Median prices are all over the place, so it's hard to see any kind of trend.

The months of inventory on the first chart is a better way of measuring progress. Anything less than 6 months is considered a sellers' market -- anything more than 8 months is considered a buyers' market. Inventory levels changed very little from February. So while we had more sales, we also had more listings come on the market. Evanston and Wilmette continue to have a shortage of inventory, while Lake Forest continues to have a bit of a surplus.  The other communities are fairly balanced. 

The highest sale this month was a Winnetka new construction home on the lake with 1.3 acres and approximately 19,000 square feet of living space.

There are currently 212 houses for sale on the North Shore that are priced greater than $2M. During the month of April, 6 houses closed in this price range:

Community	Sold This Month	# for Sale
Evanston	0	8
Wilmette	1	8
Kenilworth	0	18
Winnetka	3	56
Northfield	0	11
Glencoe	1	18
Highland Park	0	20
Lake Forest	0	69
Lake Bluff	1	4

Looks like things are moving well in the North Shore real estate market.

Have a beautiful spring!
Source: MRED (Midwest Real Estate Data) Multiple Listing Service