December 2010 Closed Home Sales in Winnetka, Wilmette, Kenilworth, Glencoe & Northfield
Sales in the area continued at about the same pace as previous months with Wilmette still the leader in closed home sales.
Town # Sold Average List Average Sold Ratio Market Time
Winnetka 9 $1,399,878 $1,173,522 84% 140
Wilmette 17 $ 740,459 $ 652,941 88% 140
Kenilworth 4 $2,133,000 $1,696,250 80% 243
Glencoe 9 $1,185,200 $ 918,889 78% 296
Nrothfield 7 $1,164,429 $ 923,500 79% 290
The ratio of list price to sell priceis still low for the North Shore area - this means that homes are overpriced and selling for considerably less. Wilmette's average for December was 88% which is the highest ratio, next was Winnetka at 84%. Both Winnetka and Wilmette also had lower market time which is a direct result of more careful and realistic pricing.
I think the Spring market will be busy - there are already new homes being listed this very first week of January. Currently inventory is still high, so as there is more competition, prices will continue to slide, although at a much lower rate than in the past year.
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