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.
Winnetka Real Estate Market Snapshot