Winnetka/North Shore Housing Update #3 during Covid

By
Real Estate Agent with Baird & Warner Real Estate

 

Winnetka & North Shore Real Estate Update #3 (during Covid)

 

Tracking the numbers for January 1 to today (June 8) for both 2019 and 2020 we can decidedly see a downward trend in overall sales. It’s important to remember that the total-lockdown just recently eased up and still has several phases to go through before more buyers and sellers feel comfortable. 

 

In another real estate report that I prepared, I reported that under-contract homes far exceed the number of homes sold. This predicts solid home closes in the coming months and the numbers will rise. 

 

Several other factors that might positively affect North Shore home sales are:

 

  • Pent-up buyer demand

 

  • Younger families currently residing in the city of Chicago may abandon their dreams of raising their children in an urban setting. 

 

Here are the actual numbers:


Real estate chart


So you can see that home sales are down but will start rising again as all the under contract and pending homes start to close. The average price has dipped slightly and the median price is actually higher.

And on a lighter note, here are some thoughts about real estate right now:

 

The Multiple Listing Service is not sick with the coronavirus

 

Virtual tours, 3-D renderings and floorplans are a great way to showcase your home or view homes for sale before deciding to visit in person

 

Suburbs are gaining in popularity again as buyers seek more open space 

 

Low mortgage rates and the stock market have remained strong despite the virus

 

People need to move, people need to live somewhere, people need to eat regardless of Corona

 

Most offers are written and signed online

 

Most closings are now being done virtually

 

Viewing a home for sale can be done safely using the protocols we’ve been taught

 

 

While you’re here, please see:

 

ALL NORTH SHORE HOMES FOR SALE


 

 

 

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Margaret Goss is a full-time real estate broker since 1998 working in the North Shore communities of Winnetka, Wilmette, Kenilworth, Glencoe, Northfield, Glenview, and Evanston.

She can be reached at:

Phone:  847-977-6024

Email:  margaret.goss@bairdwarner.com

See her full BIOGRAPHY

 

(Image by Gerd Altmann from Pixabay)

 

 

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.

Looking for a knowledgeable Illinois Realtor?  Google me! 
 

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Rainmaker
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Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Flower Mound, TX
Selling Homes Changing Lives

Margaret Goss - I can't think of a more beautiful and wonderful location than Winnetka. Buyers and Sellers need to call the only one I'd endorse for sales in the North Shore real estate market and that of course is YOU!

Jun 29, 2020 10:39 AM #1
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