Comparing the first quarter of 2017 real estate statistics to the first quarter of 2018 shows varied, unpredictable, and conflicting trends.
Observations about the North Shore real estate market:
- Winnetka's total number of closed home sales is lower this year but the median sales price is up.
- Wilmette's numbers are almost exactly the same from 2017 to 2018.
- Kenilworth is too small to make sense of the numbers over a 3-month period of time. In other words, the median sales price did not almost double.
- Glencoe saw a substantial increase in both total sales and median price. But the total days on market rose by 43%.
- In Northfield the comparison is fairly stable except for the days on market which rose 89%!
- Glenvew saw prices rise, sales rise, and market time stay steady.
- Glencoe has the most overpriced homes with an 83% list price to sold price ratio (based on original list price.) At the same time, total home sales increased by 72%.
- Glenview's homes however sold for 94% of original list price.
- Winnetka's total home sale decrease was substantial at 30% lower.
- Northfield, as mentioned above, saw the largest increase in market time from 127 days to 240 days.
The North Shore market is, overall, hard to pin down with firm data. Is it a buyer's or seller's market? Kenilworth has been notoriously hard to sell in recent years, yet in the first quarter it had the lowest market time of 4 months - making it a seller's market! Northfield is decidedly a buyer's market now with an average market time of 8 months. Check out the chart below and see the bewildering statistics yourself.
To CONTACT Margaret Goss, please call 847-977-6024 or email: email@example.com
Margaret Goss is a full-time real estate agent since 1998 servicing the North Shore communities of Winnetka, Wilmette, Kenilworth, Glencoe, Northfield, Glenview, and Evanston.
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