|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.
Current market statistics for the five villages:
|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.
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