The market is hopping again! North Shore Chicago home sales were up 16% in February over last year. Six of the nine towns we track showed double digit increases, led by Wilmette and Northfield. The only town with declines over last February were Winnetka, Kenilworth and Glenview.
Despite the healthy sales trend, home prices continue to decline and the median price for the nine North Shore communities was down 23% from last year and about equal to 2002 levels. The only towns with positive trends were Evanston, Winnetka and Kenilworth. After decreasing steadily for the last couple of years, time on market has stabilized at six nd a half months, which is typical for a “normal” market.
Source: MRED LLC- Data for single family homes. Deemed relaible but not guaranteed.
(Originally posted at www.NorthShoreViews.com)
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