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

Contact Ann

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

Sunday, March 31, 2019

How's the Market as of April 1, 2019?

The sun is shining and it looks like Spring... the air may be a bit chilly, but at least there is no snow on the ground - finally!  

As I was preparing these charts, I was trying to see how different the numbers were from last year.   Year on year, things are about the same.   For example, this time last year 160 YTD units had sold in Evanston -- this year 162.  Last year 64 YTD units has sold in Lake Forest -- this year 69.  Given how cold the winter was, I find this news rather encouraging.   We didn't seem to lose traction during the first quarter.  Some towns did better than others, but it feels like we have settled into new normal.  

So how about real estate on the North Shore?  The first report shows units sold, the second presents the median prices.



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. With the exception of Lake Forest and Kenilworth, most of the North Shore looks pretty good.   Wilmette and Evanston actually have a shortage of inventory.   

In the next chart, I show the high-end sales for each community. The highest sale this month was a 1955 Glencoe lakefront home situated on 1.2 acres.  Read more about it: North Shore lakefront mansion is priciest suburban sale this year


There are currently 173 houses for sale on the North Shore that are priced greater than $2M. During the month of March, 8 houses closed in this price range:

Community
Sold This Month
# for Sale
Evanston
0
7
Wilmette
0
8
Kenilworth
0
10
Winnetka
4
49
Northfield
0
9
Glencoe
1
18
Highland Park
0
10
Lake Forest
2
55
Lake Bluff
1
7

After this long winter, let's hope for a beautiful spring!
Source of data: MRED (Midwest Real Estate Data) Multiple Listing Service

Wednesday, March 27, 2019

Green Tips - recycle those crayons

Crayola and schools across North America have banded together to help kids understand the importance of their role in protecting the environment. That’s they launched Crayola ColorCycle. Through this initiative, students in K-12 schools across the continental United States can collect used markers and send them to a conversion facility where they will be repurposed and kept out of landfills. Learn more about how you and your kids can participate! Learn more about Crayola ColorCycle click here.

ColorCycleItHeader

Wednesday, March 20, 2019

No-Fail Paint Selections for Staging Your Home

When preparing to sell your home, it’s important to consider every step that will increase its appeal to potential buyers. While the existing color scheme made it feel like home to you, pressing the reset button to neutral will help potential buyers envision themselves living in the house. Skip the paint research-induced headaches by using these no-fail staging paint selections, and watch the sold sign go up in no time.


All-Over Neutral: Benjamin Moore Revere Pewter
This greige hue is a go-to choice to create a neutral backdrop in open areas. The grey-beige color can appear both warm and cool, depending on lighting. Pair Revere Pewter with white trim for a polished, neutral look.
Suggested rooms: Open spaces, such as family rooms or open concept layouts.

Go-To Gray: Sherwin Williams Crushed Ice
This pale gray option blends in with virtually every design style. Whether your home is traditional, transitional or modern, Crushed Ice will seamlessly blend in the background, letting your home’s selling features shine.
Suggested rooms: This chameleon color can be used throughout the house.

Calming Blue: Benjamin Moore Blue Veil
Help your home evoke vibes of peacefulness and calm, from the minute potential buyers walk through the door. This cool pale blue has enough color to subtly stand out, but not enough to dominate the space.
Suggested rooms: The entryway, gathering spaces or bedrooms.

All-Over White: Benjamin Moore Simply White
With countless white paint options to choose from, it can be the most difficult color to select. This clean white has both warm and cool hues, making it work with a variety of decor styles and appeal to many different tastes.
Suggested rooms: This crisp shade can help entryways or sun-drenched spaces shine.

Create Space: Benjamin Moore Chantilly Lace
This bright white can make any space appear larger. Crisp, yet soft, this hue creates a fresh, while cozy vibe. Use this color in rooms you want to create the illusion of additional space.
Suggested rooms: To brighten — and enlarge — a kitchen or master bathroom.

Distract from Poor Lighting: Benjamin Moore White Dove

White Dove works wonders in rooms with poor lighting. Use this shade in rooms without overhead lighting, or in rooms with limited natural light. The soft white hues stay true to color, regardless of the level of light.
Suggested rooms: In the basement, office or bedrooms without sunlight.

Dramatic Neutral: Benjamin Moore Kendall Charcoal
When you think of neutrals, light hues typically come to mind. However, a dark neutral adds intrigue and style, while making a space memorable to buyers. A dark paint selection also has the ability to make a small space appear larger.
Suggested rooms: This cool, sophisticated color is perfect for an office, dining room or powder room.
Classic Navy: Benjamin Moore Stunning
Another dark neutral, navy paint coordinates with most decor styles and adds an instant level of classic appeal, while not taking itself too seriously.
Suggested rooms: Similar to a charcoal, this timeless hue adds extra richness to an office or den, dining room or guest bathrooms.

Finish Guide

Once you have selected your paint selections, getting the right finish can elevate your home’s appearance, as well as hide any flaws on the walls. As a general guide, the higher the sheen the more durable the paint will be.
Rooms prone to moisture (kitchens, bathrooms): Semi-gloss or high gloss finish.
High-traffic areas (family room, play room, living areas): Satin finish, for easy cleaning.
Low-traffic areas (dining room, bedrooms): Eggshell or matte finish.
Source: @properties @home

Wednesday, March 13, 2019

Smile for the cameras!

As you probably know, Big Brother is the fictional character symbolized in George Orwell's novel, 1984.   He is the leader of Oceania, a totalitarian state wherein the ruling party wields total power over the inhabitants. In Oceania, every citizen is under constant surveillance by the authorities. The people are continually reminded of this by the slogan "Big Brother is watching you."

Well, home buyers -- that slogan is one you might want to take to heart.   Big Brother is here and now with surveillance cameras etc.   I was on tour not too long ago and the agent whispered to us and let us know that her clients were watching us from afar.  Egads.

This experience highlighted for me a growing issue in real estate. As smart-home technology becomes more common, real estate agents and their clients are increasingly and uncomfortably finding themselves living in 1984 with someone watching them as they walk through the home.  This practice surfaces questions about ethics, legality, and privacy that have not been fully understood nor addressed by the real estate community.

So buyers beware.   
1. Look around, but don't touch or do anything that might cause the seller concerns.
2. When walking through a property, certainly don't talk strategy or share personal information that could be used in a later negotiation.
3. Be careful what you say about the home -- negative comments could later come back to haunt you.

It's a "brave new world" out there.  

Wednesday, March 6, 2019

Join us for the Next Chapter!

There are still spaces available!!

Susan Kelsey and I are back with our The Next Chapter event for Baby Boomers.

Details:
The Next Chapter: Putting Your Financial House in Order
When: Saturday, March 9 from 8 am – 12 noon
Where: Lifeworking
717 N. Forest Avenue, (2nd floor) Lake Forest


Building on last year’s workshop,we have new speakers, new information and new resources for YOUR Next Chapter!

• Learn about which Medicare plan is right for you!
• Learn if you should purchase long-term health care insurance
• Take home a complete financial/legal album of resources for your family
• Back by popular demand, tips on estate planning
• Understanding the value of your home in today's market

There is no fee to attend The Next Chapter, but registration is required. Please register here.

Friday, March 1, 2019

How's the Market? As of March 1, 2019

Thrilled to be done with February... This winter just won't seem to end. 

The market picked up a little bit in February, but I'm hoping to see real progress in March.

So how about real estate on the North Shore? The first report shows units sold, the second presents the median prices.




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. With the exception of Lake Forest and Kenilworth, most of the North Shore looks pretty good.   Evanston actually has a shortage of inventory.   Some of this is seasonal.  Often sellers take their homes off the market during the winter months, thus lowering the inventory levels.   

In the next chart, I show the high-end sales for each community. The highest sale this month was a 12 year old home in Northfield that was over 10,000 square feet. 



There are currently 167 houses for sale on the North Shore that are priced greater than $2M. During the month of February, 3 houses closed in this price range:

Community
Sold This Month
# for Sale
Evanston
0
5
Wilmette
0
8
Kenilworth
1
9
Winnetka
1
50
Northfield
1
8
Glencoe
0
16
Highland Park
0
12
Lake Forest
0
52
Lake Bluff
0
7

In honor of St. David's Day... Dydd Gŵyl Dewi Hapus!