Winnetka - Months Needed to Sell Existing Inventory

By
Real Estate Agent with Baird & Warner Real Estate

The absorption rate is always a good way to look at what kind of real estate market we are having.  A stable market is a 6 months supply.  Below that number of months is a seller's market and above that is a buyer's market.

As of today, July 21, 2014, the absorption rate is 5.4 months.  Compare this to 2011 when it was 13.3 months:

 

There are 156 homes currently for sale in Winnetka and this does not include those that are under-contract and may come back on.  It would seem to be a healthy number, yet the rate of sales still indicates a seller's market.

If you are thinking of selling, the numbers say Sell Now!  If you are ready to sell, don't hesitate.  Interest rates are still incredibly and unfailingly low, yet that may change with any instability in the world.

Call me - 847-977-6024.  I'm happy to meet with you and discuss marketing and your home's value.

 

 

 

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

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.

Looking for a knowledgeable Illinois Realtor?  Google me! 
 

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Rainmaker
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Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi
NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656 - New Lenox, IL
708.921.6331 - 40+ yrs experience

It's good to see that improvements in absorption rates are taking place, Margaret.  Hopefully Winnetka (and the entire Chicagoland area) will continue in that direction.  You correctly point out, interest rates are presently still very low.  But that can change in a blink-of-an-eye ...

Gene

Jul 22, 2014 01:20 AM #1
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Dagny Eason
Dagny's Real Estate - Wilton, CT
Fairfield County CT, CDPE Homes For Sale and Condo

Margaret, good advice telling sellers to act now! Sounds like everything's going in a good direction, and hopefully it continues to do so!

Jul 22, 2014 04:41 AM #2
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Margaret Goss
Baird & Warner Real Estate - Winnetka, IL
Chicago's North Shore & Winnetka Real Estate

Gene - I've been hearing that rates just can't stay this low - although they have been for such a long time many buyers don't know any different

Dagny - thank you, I hope so too!

Jul 22, 2014 05:21 AM #3
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Margaret Goss

Chicago's North Shore & Winnetka Real Estate
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