Winnetka 6-Month Home Sales Report, 2017, 2018, and 2007

By
Real Estate Agent with Baird & Warner Real Estate

Instead of preparing just a 6-month real estate report on the first half of 2017 vs. 2018, I decided to throw in statistics from  2007 into the mix. I'm often asked if Winnetka has returned to its pre-recession home prices. My answer is always "No" but there are some interesting take-aways from these numbers.

WINNETKA REAL ESTATE  HALF-YEAR REPORT

 

Winnetka Real Estate Report

The most startling number here is the huge jump in average sale price of a Winnetka home from 2017 to 2018, from $$1,307,000 to $1,690,000. This can easily be explained - Winnetka has had four high-priced sales since January 1, 2018: $8,875,000, $10,000,000, $12,000,000, and $12,000,000. Since I'm using an average here (as opposed to a median) the numbers are skewed higher for 2018. Looking at this another way, the median Winnetka home sale price in the first half-year of 2018 was $1,179,000 and in 2017 it was $1,111,250. For Winnetka, looking at the median price is a more accurate statistic.

The total number of sales was much lower in 2007 because there weren't as many homes for sale - but more buyers than sellers equaled rising prices.
In spite of 2007 being a "hot" market, days on market was higher than it is now. Homes prices were rising, usually by so much that it caused buyers to take pause. Even in a hot market, many home sellers had to reduce their price causing a longer sale time.

CURRENT REAL ESTATE MARKET IN WINNETKA



Homes for sale:  156
Priced:  $465,000 to $9,999,000
Under contract: 62
Absorption rate: 7.8 months
Condos for sale: 5
Priced:  $369,000 to $899,000

 

To CONTACT Margaret Goss, please call 847-977-6024 or email:  margaret.goss@bairdwarner.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.  See full BIO for Margaret Goss.

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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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Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Margaret how interesting looks like your market is about two to three years behind ours. We have surpassed the top of the market of 2007/2008 about two years ago. Loved the way you explain the numbers, hope the sellers and buyers appreciate it too, Endre

Jul 05, 2018 10:45 PM #1
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Margaret Goss

Chicago's North Shore & Winnetka Real Estate
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