Keeping up with Chicago's North Shore Real Estate Market!

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call or text me: 847-691-1111 or email: ann@rannjones.realtor

Saturday, June 30, 2018

How's the Market? July, 2018

Here we are -- the last day of the second quarter for 2018.  Where did the time go?

June is over, so we have crossed the halfway mark for the year. I thought I would present a very unscientific chart that shows inventory sold for the first half of the year – versus what is currently on the market. I say unscientific because real estate sales are seasonal, so we typically sell more in the first half of the year than in the second half. Homes that are under contract or are in pending status are included with active properties, so that number is a little on the high side, since some of these properties are no longer actively being marketed.  Regardless, I thought the results were pretty interesting.



The way to read this chart – the red line is number of units that are currently on the market. The white line represents the number of units that have closed in the first six months. For me, what pops out in this chart are the extremes of the North Shore. Some towns have sold more than are active. Conversely, current inventory in some towns exceed the number of sales we have had in the first part of the year. The other communities are fairly balanced. Interesting.

So how was the market in June? These next charts show units sold and the median prices.




The months of inventory is the best way to tell about the health of a market. Anything less than 6 months is considered a sellers' market -- anything more than 8 months is considered a buyers' market. The level of inventory has not deviated much over the last few months.  There continues to be a shortage of inventory in Wilmette and Evanston. 

 In the next chart, I show the high-end sales for each community. The highest sale this month was in Winnetka on Linden Street.

There are currently 217 houses for sale on the North Shore that are priced greater than $2M. During the month of June, 10 houses closed in this price range:

Community
Sold this Month
# for Sale
Evanston
0
6
Wilmette
2
7
Kenilworth
1
18
Winnetka
5
62
Northfield
0
9
Glencoe
1
21
Highland Park
0
20
Lake Forest
1
71
Lake Bluff
0
3


Hoping the heat wave eases up in order to celebrate the 4th in style.  Wishing you a happy holiday!

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