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, December 1, 2018

How's the Market as of December 1, 2018

It's so hard to believe another year is coming to an end.   Where does the time go?  I was just watching the news about the death of GHW Bush and realized how much time has gone by since he was president -- so many tumultuous events have happened since then.... from the impeachment of a president to 9/11 to the financial meltdown to tribal politics.  His tenure as president seems like a another era, when civility and humility were the norm.    Time sure marches on.

And so it does with people creating families, selling and buying homes, and celebrating our holidays together.  I look forward to another Christmas with my family as the market cools down and goes into a somewhat of a hibernation over the holidays. 

There was a disappointing article, "Back to the bottom" for Chicago in Crain's this week, which points this out that Chicago continues to lag the rest of the country in terms of real estate sales.   But all real estate is local, so I tend to focus on each community before I make a global statement about the real estate market. 

So how was the North Shore market in November?

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 a Jerome Cerny home situated on the lake in Winnetka.


There are currently 153 houses for sale on the North Shore that are priced greater than $2M. The numbers tend to go down as people take their homes off the market during the holiday season.  Regardless, during the month of November, 9 houses closed in this price range:

Community
Sold this Month
# for Sale
Evanston
2
5
Wilmette
0
3
Kenilworth
0
13
Winnetka
4
39
Northfield
0
8
Glencoe
0
18
Highland Park
1
15
Lake Forest
2
46
Lake Bluff
0
6

Nice month for high-end sales!

As the holiday season begins, I wish you and yours joyous time both now in the in the coming year.   Stay tuned for next month's end of the year market recap report.   


Happy Holidays.  

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