Winnetka IL Absorption Rates Feb 2015

By
Real Estate Agent with Baird & Warner Real Estate
https://activerain.com/droplet/4yv5

Knowing the absorption rate in your area is a great asset when looking to purchase or sell a home in Winnetka.  The absorprion rate is actually a formula that tells you how long the current inventory of homes would take to sell if no new homes came on the market.  

In other words, it's the rate at which the market absorbs or eliminates current inventory.  It determines this by the current rate of home purchases made by buyers.

In general it is agreed that less than 5 months worth of inventory is a seller's market and more than 5 months is a buyer's market (with some middle ground being a stable market.)

It's interesting to see how this changes as the parameters change.  Here are the absorption rates for various types of properties in Winnetka:

 

Winnetka Absorption Rates February 2015

 

The hottest properties in Winnetka right now are homes that are priced between $1-2 million and condos.  I have been saying for years that Winnetka is sorely lacking in condo availability.  Very close to being hot are homes under $1 million.  

Also interesting is that both 4 and 5 bedrooms homes are equally popular.  And not surprisingly, homes priced over $2 million are very much in the buyer's market category.  

If you have a condo and are thinking of selling, now would be an ideal time for you to net a quick sale with a good price.

 

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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Rainer
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Nicholas Costantino
Engel & Völkers - Hoboken, NJ
CRS, ASP, e-Pro

Thank you for the market update I'm always curious how real estate is doing in other markets.

Feb 19, 2015 08:01 PM #1
Rainmaker
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Patty Da Silva, Davie, Southwest Ranches Cooper City, Plantation, Weston, REALTOR
BROKER of Green Realty Properties® - 954-667-7253 - Davie, FL
Top Listing Broker

Great presentation Margaret. Now's the best time to sell condos in Winnetka.

Feb 20, 2015 12:42 AM #2
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Rainmaker
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Margaret Goss

Chicago's North Shore & Winnetka Real Estate
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