Winnetka Real Estate Market Snapshot - September 2011

By
Real Estate Agent with Baird & Warner Real Estate
Winnetka Real Estate Market Snapshot


I discovered an interesting statistic today - there are 152 single-family homes for sale in Winnetka as of September 18, 2011 with an average list price of $2,100,000.  That seemed high to me so I wanted to see what made up this number.

$225,000 - lowest price home in Winnetka - a teardown near the Metra line

$32,000,000 - most expensive home for sale in Winnetka (see my recent post:  What Does $32 Million Buy You in Winnetka?)

Okay, so now I get it, a house priced way off the charts has skewed the numbers.

Like our teachers used to do in school, let's eliminate the lowest and highest priced homes and come up with a new average list price.  

$319,000 - lowest price home in Winnetka (a foreclosure)

$6,899,999 - 2nd most expensive home in Winnetka

Now, the average list price is $1,928,245.

Not all that much different!  Winnetka real estate  has a heavy inventory right now of  higher-end homes:

51 homes listed over $2,000,000

24 of those are listed over $3,000,000

10 of those are listed over $4,000,000

6 of those are listed over $5,000,000

To take this one step further - 201 homes have sold in Winnetka during the past 12 months and the average sell price was $1,338,333.  That breakdown was:

29 homes sold for over $2,000,000

13 of those homes sold for over $3,000,000

6 of those homes sold for over $4,000,000

4 of those homes sold for over $5,000,000

We definitely have more inventory currently available over $2,000,000  than last year - what they ultimately sell for will be a subject for another post.

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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Rainmaker
427,439
Leslie Ebersole
Swanepoel T3 Group - Saint Charles, IL
I help brokers build businesses they love.

Somehow the drop from $2.1 million to $1.9 million doesn't make a huge difference...that's rarefied air in Winnetka! Such a lovely town.

Great report, I like seeing more analysis.

Sep 19, 2011 02:55 PM #1
Rainmaker
1,087,243
Margaret Goss
Baird & Warner Real Estate - Winnetka, IL
Chicago's North Shore & Winnetka Real Estate

Leslie - I also thought there would be more of a difference but I guess the high-end inventory just makes the average higher.

 

 

Sep 19, 2011 03:06 PM #2
Rainer
92,254
Deb McNeill
Flying M Team Small World Realty Fort Worth, Tx - Fort Worth, TX
Fort Worth Real Estate

I'll have to do that exercise in my neck of the woods...thought provoking post.

Sep 19, 2011 03:23 PM #3
Rainer
478,183
Not a real person
San Diego, CA

Hope a few of those properties make it into your SOLD! portfolio!

Sep 20, 2011 08:54 AM #4
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Rainmaker
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Margaret Goss

Chicago's North Shore & Winnetka Real Estate
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