The news is coming at us from all sides, proclaiming, "Real Estate Market Comeback" or "Home Prices Increase."  Yes and no.

As we know by now, real estate is very, very local and national trends may be quite different from what is happening here.  I just returned from a trip to Los Angeles where the market is hot, inventory is low, and multiple offers are common.  Lots of disappointed buyers.

Our market in Winnetka and the North Shore is holding steady - not much difference in sales in 2012 over 2011.  Neither number of sales or prices have moved much.  Here are the exact numbers from the Multiple Listing Service of Northern Illinois:

Sales of single family homes in Winnetka decreased by about 5% and prices also decreased by 2%.  Days on market and the ratio between list and sell prices were almost the same.

Changes for the better were seen in  condo sales:  sales increased by a whopping 2 1/2 times and prices increased by 13%!  

While the differences were not great between 2012 and 2011, it is definitely not a pure buyer's market anymore.  Homes that are priced properly and in good condition will sell quickly, sometimes with multiple offers.  Buyers are ready to go and are usually pre-approved for a loan.  

Are you getting ready to move in 2013?  Call me anytime with questions or thoughts - I would be happy to meet with you.