Last month I wrote a post (http://activerain.com/blogsview/923418/Market-Stats-for-Winnetka-Kenilworth-Wilmette-IL) about closed home sales for Winnetka, Wilmette, Kenilworth and Glencoe. I found it interesting that even in the current economic climate, sales were exactly the same (22 single family homes) for January 2008 as for January 2009.
Guess what? Closed sales for February 2009 were exactly the same as one year ago only the number was slightly lower than the January stats - 19 closed sales. So, North Shore Real Estate is holding steady as far as individual units sold.
Prices of homes, as an average, are lower however, coming in at 87.5% of last year's total numbers. So with the number of sold units the same . . . but the total sales volume is lower . . . . it's a great time to buy a house in the North Shore suburbs.
Buyers! What are you waiting for? I will tell you this: when the news starts picking up signs of renewed real estate interest, or lower rates, or a loosening of the available credit, sellers will respond. And it won't be in your favor. Sellers have been pummeled over the last 6 months and many, many homeowners have been forced to sell for less than what they paid just a few years ago.
It won't go on forever - this Buyer's Market. I'm not talking just about foreclosures or short sales, of which we've had our fair share. I am referring to all the inventory that's currently out here, whether Winnetka or Wilmette, Kenilworth or Glencoe. Just a little bit of good news is what we all want - but it will make housing more attractive, and thus, expensive!
Don't get caught with your pants down. The worst of winter is over and it's a great time to buy a house in 
the North Shore.
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