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

Contact Ann

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

Thursday, November 1, 2018

How's the Market? As of November 1, 2018

November already?   Where did the year go?   

It was a quiet October, with some very interesting high end sales.   The ultra-luxury market looks a lot stronger than it did a few years ago.    With a few exceptions the number of sales slowed down a bit.    There was an interesting article in Crain's this week, which points this out.  Home price growth slowed in Chicago...

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



The months of inventory is the best way to determine the health of the housing 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 with a surplus in Kenilworth and Lake Forest.   The rest of the North Shore is in great shape with a balanced market. 

In the next chart, I show the high-end sales for each community. The highest sale this month was in east Glencoe: a mid-century modern, one story home on 1.5 acres on the lake.   



There are currently 170 houses for sale on the North Shore that are priced greater than $2M. During the month of October, 9 houses closed in this price range:

Community
Sold this Month
# for Sale
Evanston
0
6
Wilmette
0
4
Kenilworth
0
13
Winnetka
2
46
Northfield
1
9
Glencoe
3
20
Highland Park
0
17
Lake Forest
3
51
Lake Bluff
0
4

Nice month for high-end sales!

As the holiday season begins, I wish you and yours a very Happy Thanksgiving!

No comments:

Post a Comment