October 2010 Market Statistics - Winnetka, Wilmette, Kenilworth, Glencoe, Northfield

Real Estate Agent with Baird & Warner Real Estate
October 2010 Market Statistics
Winnetka, Wilmette, Kenilworth, Glencoe, Northfield

Sales in October vary just slightly from September 2010, some villages up a few sales, and some are down.  But the difference is negligible and I expect November sales to be similar.  Sold price ratio to list price is also about the same for the 2 month period.

  Total # Sales Avg List Price Avg Sold Price List/Sell Ratio Market Time
Winnetka 13 $1,700,308 $1,447,308 85% 342 days
Wilmette 15 $760,993 683,000 90% 170 days
Northfield 6 $761,000 $657,166 86% 79 days
Glencoe 9 $1,059,556 $910,444 86% 138 days
Kenilworth 1 $2,695,000 $2,050,000 76% 669 days

Current  market statistics for the five villages:

  For Sale Avg List Price Avg.Days on Market Absorption Rate
Winnetka 179 $2,061,003 275 11 months
Wilmette 153 $917,251 238 6.6 months
Northfield 61 $1,048,465 312 14.6 months
Glencoe 122 $1,048,465 312 8.25 months
Kenilworth 42 16 months 17 months 18 months
The absorption rate for each village shows how many months it would take to sell the current inventory if no new homes came on the market.  

Seller's Market =  1-4 months
Neutral Market =  5-6 months
Buyer's Market = more than 7 months

Wilmette is currently in the best shape with a neutral market - all others show what we all know to be true:  it is a buyer's market with high inventory and sluggish sales.  

New homes coming on the market have slowed considerably and few will come on between now and the holidays, giving the market a little chance to catch up.

Call me with questions or more information on buying or selling a home on the North Shore.

Posted by

Margaret Goss - Winnetka and North Shore Real Estate Broker
Specializing in homes for sale in Winnetka, Wilmette, Kenilworth, Northfield, Glencoe, Glenview, Northbrook, and Evanston.

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Margaret Woda
Long & Foster Real Estate, Inc. - Crofton, MD
Maryland Real Estate & Military Relocation

Nice analysis, Margaret, and how timely... we were just talking about Market Reports over on my blog!  LOL.

Nov 02, 2010 04:24 PM #1
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Margaret Goss

Chicago's North Shore & Winnetka Real Estate
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