Winnetka and North Shore Year-End 2016 Luxury Home Market Report

By
Real Estate Agent with Baird & Warner Real Estate
http://activerain.com/droplet/4YzJ

Luxury homes are defined by their local marketplace.  Depending on the town, $2,000,000 to  $2,500,000 would be considered the starting price for a luxury home in the Chicago North Shore villages of Winnetka, Wilmette, Kenilworth, Glencoe, and Northfield.

The sales of luxury homes in 2016 looked like this:

 

Winnetka & North Shore Luxury Homes

 

 

The average market time for these homes to sell in 2016 was 262 days - however 4-bedroom homes priced above $2,500,000 took 338 days.  The average list to sell price ratio (based on original price) was 89%.

I've also shown the current inventory of luxury homes plus the absorption rate of those homes. Remember, the absorportion rate is defined as the amount of time it would take for all the inventory to sell without any new homes coming on the market.  And for some of our villages, it will take a long time meaning the luxury market is a buyer's market.  

Wilmette continues to be a strong real estate market with the best absorption rate for luxury homes. Kenilworth, Winnetka, and Glencoe have surpluses of high-end inventory and will clearly take longer to sell.  Northfield has 3 luxury homes for sale but with none having sold in 2016, the absorption rate is basically not known.   

If you would like more information on the luxury home market in Chicago's North Shore communities of Winnetka, Wilmette, Kenilworth, or Glencoe - please give me a call!  847-977-6024

See all luxury homes for sale in Winnetka

Sell all luxury homes for sale in Wilmette

See all luxury homes for sale in Kenilworth

Sell all luxury homes for sale in Glencoe

See all luxury homes for sale in Northfield

 

 

 

 

 

 

 

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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Rainmaker
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Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

You always provide good information about your housing market. Thank you for sharing.

Jan 06, 2017 07:05 AM #1
Rainmaker
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Margaret Goss
Baird & Warner Real Estate - Winnetka, IL
Chicago's North Shore & Winnetka Real Estate

Gita - thank you for stopping by!

Jan 06, 2017 07:23 AM #2
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Rainmaker
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Margaret Goss

Chicago's North Shore & Winnetka Real Estate
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