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, June 2, 2019

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

As I look out my window, it appears that summer may actually be making an appearance.   It's been a strange, wet spring... the good news is, my garden looks beautiful!

So how about real estate on the North Shore? The first report shows units sold, the second presents the median prices.  In general, as you can see, inventory levels are increasing and sales are slightly down.   It has not been quite as a robust spring market as one would hope.   Many in the industry feel that buyers are seeing the pinch of the SALT deductions and it is affecting home 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 continue to have shortages of inventory.   However, it's worth noting that inventory levels are creeping up in most of the communities.   While they remain balanced markets, the number of homes for sale has increased from the previous month.  

In the next chart, I show the high-end sales for each community. Winnetka takes the prize.  Of the eight high-end homes that sold in May, seven were in Winnetka!  The highest sale this month was a privately located 1931 classic home with 1.51 acres within the grounds of Indian Hill Country Club.  


There are currently 200 houses for sale that are priced greater than $2M. During the month of May, 8 houses closed in this price range:

Community
Sold This Month
# for Sale
Evanston
0
9
Wilmette
0
10
Kenilworth
0
15
Winnetka
7
49
Northfield
0
8
Glencoe
1
22
Highland Park
0
14
Lake Forest
0
64
Lake Bluff
0
9


Last month, I shared the news that I was selling my home.  The good news is that I sold it and will be moving shortly.   I must say, the whole experience has increased my empathy for clients going through this transition.  I found the most stressful part was dealing with my dog and making sure he had a place to go when there were other people in the house!  I can't imagine doing going through this for a long time!

Here's hoping the rain stays away for a while and we have a beautiful June!

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