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

Wednesday, September 11, 2019

Homelessness

As someone who is in transition and renting, lately I've been thinking a lot about home ownership, renting and even homelessness.   I just finished reading Sonia Choquette's book, Waking up in Paris.   It tells of her move from Chicago to France and all the ins and out of renting and moving to a foreign country.   Some of it is pretty amusing.  For example, in Paris landlords rip out kitchens between tenants -- new tenants have to buy their own appliances!   While the book is more of about her spiritual journey to find the "feeling of being home," I found her adventures of finding the right housing to be pretty relevant to me right now.  

More recently, homelessness is an issue with devastating consequences.  With the hurricane in the Bahamas, it's mind boggling to hear the number of homes that have been destroyed by Dorian and the thousands of people displaced.   At a basic level, people become homeless when their wages and income are not enough to cover rent or a mortgage and other necessities of life.  Destruction of homes by disasters creates a whole other dimension to the problem - supply versus need.  

When I worked in Sacramento during the 1980s there was so much homelessness.   Much of it was tied to the public policy at the time.  For me, personally, it was even disorienting to work there. 

We all have our beliefs and ideas homelessness - myself included.   For that reason, I found it incredibly informative and interesting to listen to this podcast on Solvable.   I'd like to share it.   If you get a chance, listen to it.



As summer moves to fall and winter, home becomes increasingly more important.   We spend so much time in our homes in the months ahead.  

I think we sometimes forget the importance of home. 
"There is pretty strong evidence that the environment in which people live is closely linked to their well-being," says Graham Rowles, a gerontology professor at the University of Kentucky. "It's sort of like the human animal attachment to territory is built into our DNA." 
"We have a need for a place that is called home," he adds. Home provides security, control, belonging, identity, and privacy, among other things. "But most of all, it's a place that provides us with a centering—a place from which we leave each morning and to which we return each evening." (source: US News - Why Our Homes Make Us Happy)
 

Sunday, September 1, 2019

How's the Market as of September 1, 2019

As summer comes to an end, so begins a "new year."   I love September -- it's my favorite month on the North Shore.  The skies are blue; the air is crisper and the colors start to become pretty amazing as our mature trees begin their autumn ritual.     

In real estate, it's usually a new beginning as well.   People return to their lives and begin thinking about moving.   We'll see how this Autumn season does.

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


Using months of inventory is a more effective way of measuring the health of the 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 Lake Forest and Kenilworth.

In the next chart, I list the highest sales for each community during June and July. At the top of the list was a unique more contemporary property in Winnetka.   

There are currently 199 houses for sale that are priced greater than $2M. During the month of August, 13 houses closed in this price range:

Community
Sold this Month
as a % of Active
# for Sale
Evanston
2
22%
9
Wilmette
1
14%
7
Kenilworth
0
0%
17
Winnetka
6
13%
45
Northfield
1
14%
7
Glencoe
0
0%
19
Highland Park
0
0%
15
Lake Forest
3
4%
72
Lake Bluff
0
0%
8


September typically brings an increase in sales before winter.   Here's hoping for a beautiful fall!