Winnetka North Shore Home Prices Continue to Soar
The real estate aggregator Inman News published this a few days ago:
"The median U.S. sale price is up 5% year over year. But there are signs that price growth could slow soon, with the average home selling for under-list price, inventory rising, and a high share of listings growing stale.
The median U.S. home sale price hit an all-time high of $397,482 during the four weeks ending July 7, up 4.7% year over year - the biggest increase in over four months. That's according to a new report from Redfin . . ."
Let's take a look at the North Shore numbers.
The median price for individual villages can be found at: What Sold in Your Winnetka North Shore Village.
In Winnetka, Wilmette, Kenilworth, Glencoe, and Northfield villages, the median price for the past 12 months was $1,387,000. Home prices rose by 11% during this period over the previous 12 months.
In Glenview and Northbrook, the median price for the past 12 months was $750,000. Home prices here rose by 6.38% over the previous 12 months.
The usual suspects are involved - high mortgage rates and a severe lack of inventory. However, there are signs of pending changes. Some homes are still selling for wildly over the list price if they're move-in ready while others are getting stale after 30 days.
Read the whole article Home Sale Prices Hit a Record High for the 9th Straight week.
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