2016 has been an unusual year for real estate in the North Shore suburbs of Winnetka, Kenilworth, 
Wilmette, Glencoe, and Northfield. Almost across the board, we have had a surplus of inventory with long market times for sales. This is very unlike much of the country that is experiencing low inventory and quick sales.
My drumbeat is: real estate is local. But the reasons are not certain and everyone has an opinion. From tax hikes and high prices to blaming it on the Millenials, no one knows for sure. The only thing I know for sure is that prices are down and buyers are picky - we have a solid buyer's market.
I have compared the first six months of 2016 to the same period in 2015 and here's what I found.
Winnetka - the average home price dropped by 5.5% and market time increased from 121 days to 193 days.
Current number of homes for sale: 191
Under contract: 50
Pending: 24
Low price: $470,000
High price: $12,999,000
Wilmette - the average price of home in Wilmette stayed almost the same, dropping just 0.34%. In almost every post I've written in the past five years, Wilmette has shown strong and consistent numbers. Market time went up from 70 days to 94 days, still well below other villages.
Current number of homes for sale: 187
Under contract: 67
Pending: 15
Low price: $307,000
High price: $9,900,000
Kenilworth - has had the largest decline in average price, down 22%. Market time also jumped from 234 to 447 days. With an excellent school that serves kindergarten through 8th grade, this is a mystery to many agents who sell here. It might be a cooling off period for overpriced properties,
Current number of homes for sale: 57
Under contract: 7
Pending: 6
Low price: $699,000
High price: $7,749,000
Northfield - good news for Northfield residents - prices actually rose by 10%. Northfield has always been a good value and buyers seem to have noticed.
Current number of homes for sale: 43
Under contract: 12
Pending: 4
Low price: $369,900
High price: $2,750,000
Glencoe: Another bright spot has been Glencoe with prices going up by 12%. Market time also decreased from 178 to 145 days. I think Glencoe is an excellent value right now - and so do buyers.
Current number of homes for sale: 110
Under contract: 18
Pending: 10
Low price: $309,900
High price: $6,700,000
Glenview: Glenview saw a drop in average house price - down by 11%. Market time increased from 98 days to 108.
Current number of homes for sale: 280
Under contract: 114
Pending: 29
Low price: $199,000
High price: $3,180,000
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