The first six months of 2014 clearly show that there was a lack of inventory in Kenilworth. I know that in May many new homes were listed that helped to alleviate that problem, but the comparison of 2013 to 2014 confirms a dearth of homes for sale.
Mid Year Kenilworth Real Estate Market Report 2014 (with 2013 numbers in red)
Homes sold: 18 (27)
Average list price: $1,542,000 ($1,401,000)
Average sold price: $1,423,000 ($1,309,000)
List price to sell price ratio: 92% (93%) (based on final reduced asking price)
Average days on market: 117 (148)
There were 33% fewer homes sold in 2014 and those homes sold for an average of 12% higher than 2013. That demonstrates a seller's market with an added "ouch" of fewer homes for sale (the "ouch" being for buyers looking to purchase a home in Kenilworth.)
None of the homes sold during the first half year were foreclosures or short sales. There was just one short sale in Kenilworth in the first half of 2013.
Current Real Estate Market in Kenilworth
Homes for sale: 39
Low price: $578,000
High price: $8,950,000
Homes under contract: 5
Homes pending: 2 (all contingencies have been cleared.)
Real estate transactions are complicated. For professional representation whether you are selling your Winnetka or Northfield home, or are planning to move here, please call me today 847-977-6024