Noah Levy

Highland Park Real Estate Market Update.  Being a Real Estate Broker along Chicago's North Shore it seems to me that everyone is always asking me how the market is doing. Is it because they are thinking about buying or selling, need to sell or just plain curious.  Because I never know exactly the reason for this question - I give an overall picture of how the market is doing.

Well, in Highland Park IL the property sales have increased as well as the median sales price. During the month of August property sales were 35 compared to 23 in August of 2010 - this is an INCREASE OF 52% when comparing August 2011 vs. August 2010.  The median sales price in August also increased - in August 2011 median sales price was $482,000 vs. $450,000 in August 2010.

The market action report below details the city of Highland Park Illinois. Curious how the other North Shore suburbs are trending? Just ask me.

MARKET ACTION REPORT		June 2011
City: Highland Park
Property Type: Single Family Home, Townhome, Condo | Price $0.00 to $99,999,000.00

* LM=Last Month / L3M=Last 3 Months / PYM=Same Month Prior Year / LY=Last Year / YTD = Year-to-date

Continued:

 Look at some of the headlines the other day:

"Home prices at lowest point since 2006 bust"
"Home values continue downward churn"
"No relief in sight' for falling home prices"

And even in paradise - Maui- the front page headline in the paper screamed "Crash Spreads."   And Maui isn't one of the 20 markets. In fact the nearest market covered is San Diego, a mere 2500 miles away!

Shawn Daly, an agent with Coldwell Banker Residential Brokerage in Evanston, Illinois, had to calm down two skittish buyers this week.

One, who is currently working in Iraq, had initially placed on offer of $450,000 on a lakefront Chicago condo. The sellers countered with a price of $525,000. But after seeing Case-Shiller inspired headlines on the web, Shawn's client emailed him to ask that he lower his offering price by $50,000. Shawn explained that the sellers did not agree with his first offer so if he went lower he wouldn't get the home. The buyer calmed down and agreed.

Shawn correctly pointed that the Case-Shiller Home Price Indices are meaningless to individual buyers who are looking at specific houses, on specific streets, in specific neighborhoods.

Then yesterday, Shawn met another client for a tour of potential homes. They hardly said hello without telling Shawn they were more nervous than ever after seeing the report on the news.

You have a right to be nervous, but I can't say this enough. Now is the smartest time in my 36 years in real estate to buy a home if you have the lifestyle reason, financial stability and viability to do so.

And it's all about "Triple I...P". Inventory, Interest rates, Incentives and Pricing. Start with inventory, because most communities have seen a rise in the amount of homes on the market, you have more choices. Interest rates for mortgages remain at near-historic lows and have actually trended down over the last 7 weeks, with Freddie Mac reporting 30-year fixed rates now averaging 4.55%. Incentives are the tax advantages to home ownership. And of course, there are prices. Prices are down from mid-decade highs, but in many, many markets are showing stability, slight declines or even increases. Home affordability remains near record levels and the price-to-value proposition in most markets is extremely compelling.

If you are interested in buying a home, you owe it to yourself to contact a real estate agent in the community you are interested in. Look at homes, do a rent vs. buy analysis, explore what is available in your price range.

Don't just take my word for it. Do your homework.

You might just be surprised that the end of the world isn't here yet ... at least until next month's report.

Are you considering the North Shore Suburbs of Kenilworth or Winnetka to be a place you can call home? Curious what your options may be?  The options are endless - from price, style of home, proximity to the lake - there is truly something for everyone.  Vintage homes, new construction, lake front properties, traditional colonials to luxurious mansions are available in Kenilworth and Winnetka.

I have had the pleasure of assisting many  buyers who are relocating to Chicago find a home that meets their specific needs.  To many, Kenilworth and Winnetka have been on the top of the list as these communites are about a thirty minute commute on the train to downtown Chicago and the schools are top ranking.

Are these two communities the right fit for you?

Below is a snap shot of what real estate is available, median price, and sold inventory.

Kenilworth, Illinois

1.There are 51 active listings ranging from $499,000.00 - $6,500,000.00 with a median list price of $1,995,000.00. Click here to look at homes for sale in Kenilworth.

2. There are 6 single family homes under contract

3. There have been a total of 8 closings during the first quarter (January 1, 2011 - March 31, 2011) - ranging from $880,000.00 to $3,635,000.00

Winnetka, Illinois

1.There are 154 active listings ranging from $314,000.00 - $23,000,000.00 with a median list price of $1,599,000.00.  Click here to look at homes for sale in Winnetka.

2. There are 52 single family homes under contract

3. There have been a total of 27 closings during the first quarter (January 1, 2011 - March 31, 2011) - ranging from $254,000.00 to $4,000,000.00. 

If you are relocating to the Chicago and are interested in exploring Kenilworth, Winnetka or other North Shore Suburbs give me a call @ 312.203.2416 and we can discuss your real estate needs.

The above article, Are You Considering the North Shore Suburbs of Kenilworth or Winnetka to be a Place You Can Call Home?, was written by Noah Levy - A REALTOR assisting buyers and sellers with their real estate needs.

Quarterly Real Estate Market Update Report for Glencoe Illinois

Thinking of buying of selling your home in Glencoe?

Below is a snap shot of real estate happenings during the first three months of 2011 in Glencoe.

1. There are 94 active listings ranging from $359,000.00 - $6,950,000.00 with a median list price of $1,325,950.00

2. There are 24 single family homes under contract

3. There have been a total of 31 closings during the first quarter (January 1, 2011 - March 31, 2011) - ranging from $300,000.00 to $3,650,000.00

Is there a perfect home for you in Glencoe? Click here  to view current inventory available.

To learn more about Glencoe Real Estate contact me.

The above article, Quarterly Real Estate Market Update Report for Glencoe Illinois, has been provided by Noah Levy - A REALTOR assisting clients with their real estate needs along Chicago's North Shore Suburbs.

 Quarterly Real Estate Market Update Report for Highland Park IL

Thinking of buying of selling your home in Highland Park IL?

Below is a snap shot of real estate happenings during the first three months of 2011 in Highland Park.

1. There are 281 active listings ranging from $139,900.00 - $9,900,000.00 with an average list price of $1,025,637.00

2. There are 61 single family homes under contract

3. There have been a total of 42 closings during the first quarter (January 1, 2011 - March 31, 2011) - ranging from $145,000.00 to $1,600,000.00

Is there a perfect home for you in Highland Park? Click here  to view current inventory available.

To learn more about Highland Park Real Estate contact me.

The above article, Quarterly Real Estate Market Update Report Highland Park IL, has been provided by Noah Levy - A REALTOR assisting clients with their real estate needs along Chicago's North Shore Suburbs.

Glencoe Real Estate Market Update

As a REALTOR serving clients along Chicago's North Shore the number one question that I am always asked is..... "How is the Real Estate Market?"  Obviously, my clients ask me this question but I am also asked this question by friends, family and/or acquaintances.

The following information pertains to Glencoe IL -

1. During the month of January were ten sales in Glencoe- of the ten - three were short sales and the remainder were conventional sales. Compared to January 2010 there was an 11.1% increase in closed transactions for January 2011.

2. Highest list price for a single family home in Glencoe Illinois is $7,500,000 while the lowest list price is $379,900.  Click here to view homes for sale in Glencoe.

3. The average list price for a single family home in Glencoe Illinois is $1,957,990 and the median list price is $1,183,500.

4. Selling price vs. listing price - the average in January of 2011 in Glencoe  was 87.7%.

Below is additional information of the Glencoe real estate market.  If are considering a move in or out of Glencoe - give me a call - you'll be glad you did!

The  real estate market in Highland Park IL seems to be  off to a good start.   There are currently 273 single family homes for sale - ranging from $135,000.00 - $9,900,000.00.  There were 14 closings in Highland Park during the month of January - all of which were conventional sales. The average sale price  was $392,177.00. Additionally 30 homes are under contract.   I have attached the market update report for the month of January for a more detailed overview.

If you are a buyer there is good amount of  inventory available for sale. Be sure to partner yourself with an active  REALTOR who is familiar with the inventory, neighborhood and the school system.

If you are thinking about selling your home this Spring talk a real estate professional. You need to have an understanding of the market, your competition and what they recommend to do before putting your home on the market.  Homes are selling if they are priced right!

Highland Park IL Real Estate Market Update.

The Highland Park Real Estate market is holding its own. There are currently 257 single family homes for sale - ranging from $135,000.00 - $9,900,000.00.  There were 21 closings in Highland Park during the month of November - of the 21 homes 2 were foreclosures and the remaining 19 were conventional sales.  The average sale price  was $507,355.00.  If you are a buyer there is good inventory available for sale ~ If you are a seller be sure that  you have your home positioned well.

Feel free to contact me for your specific real estate needs.

Highland Park IL  Homes For Sale - What's available in the Highland Park real estate market and what has sold recently?

Highland Park Real Estate activity remains active with continued sales.   During the month of October there were a total of 21 closed transactions - 1 home was a short sale, 4 properties were foreclosures and the remaining 16 transactions were arm's length transactions. 

For buyers who are just starting their search there is plenty of inventory available for sale. Currently there are 298  single family homes for sale in Highland Park ranging in price between $150,000.00 and $9,900,000.00. Inventory, variety of homes available and low interest rates make this a great time for a Buyer in the marketplace.  Buyers should note that the monthly supply of inventory is steadily declining - which means the longer you put off buying a home the less inventory you will have to chose from.

For further information regarding the value of your home or buying a home in Highland Park or surrounding suburbs give me a call or send me an email.