Real Estate Transactions Year-to-Date 2009 vs 2010

Real Estate Transactions Year-to-Date 2009 vs 2010
for Winnetka, Wilmette, Kenilworth, Glencoe and Northfield, IL

With all the dire news lately - who doesn't know what's going on in real estate?  Being that ALL real estate is local and what's going on in San Bernardino doesn't have much effect on what's going on in Winnetka, we all need to use caution when considering the national news. 

Now, I just pulled a report showing year-to-date sales (January 1 through September 1) for both 2010 and 2009 and I found something pretty interesting.  Sales are up in the five villages of Winnetka, Wilmette, Kenilworth, Glencoe and Northfield this year over last and while prices continue to decline, the slide is not that steep anymore.  Here are the numbers:

Number of Sold Houses:  468
Average Sold Price:         $1,044,654
 
Number of Sold Condos:  81
Average Sold Price:          $320,917

2009 Closed Sales from 01/01/2010 - 09/01/2009

While the average price has come down over the one-year period, total sales were up.  Part of this phenomenon can be attributed to the expiration (twice) of the federal tax credit for home buyers.  Although this credit did not directly affect local home sales, there was definitely a "trickle up" going on with purchasers of homes in the North Shore having their homes being purchased by a buyer who was taking advantage of the tax credit.

As we head into the holiday season, I expect this increase in sales to decrease.  Generally, there is a small uptick in sales between Labor Day and Thanksgiving, but it will be very quiet from then until February or March.

Please call me for more information on housing or pricing in the North Shore.