Wilmette, IL Real Estate News

By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
Here is What Sold in Your North Shore Village in July 2022Nationally, changes are happening a bit faster than here on the North Shore. These changes include price reductions, increased market times, and contracts falling through. In other words, the usual.In spite of these changes starting to occur here, the numbers from July 2022 were very strong. Of course, these statistics are lagging indicators since they went under contract several months ago. Inventory is up in all villages from the previous month (which I have indicated, below) and this is good for buyers looking in our area. The median price has also risen across the North Shore.  WINNETKAClick here to see all Winnetka homes that sold in July 2022Homes for sale: 37 (29 last month) Private network homes for sale: 5Median price ye...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
Wilmette IL Condos for Sale at 1616 Sheridan Road1616 Sheridan Road is a condo building located on the lakefront in the area known as No Man's Land. It is conveniently located right across the street from shopping, restaurants, medical, and dental offices.The building was built in 1961 and has 10 stories and 83 units. They range in size from 1-bedroom up to 3-bedroom and are always on one level (no stairs.)  1616 Sheridan is one of the few buildings along the lake to allow a few rentals.The building does not have a doorman and residents use key fobs to enter the building.  Most do this through the garage, entering within a secure area of the building. There is an on-site manager, garage man, and maintenance staff.The amenities include an outdoor pool, private beach, guest suite, party r...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
Winnetka North Shore Condo Report Jan-June 2022Condo and townhouse sales have been robust in the North Shore villages of Winnetka, Wilmette, Glencoe, Northfield, Glenview, and Evanston.Evanston has the highest inventory and thus the largest number of sales. Conversely, Glencoe doesn't have the condo inventory of other towns but what they do have sold quickly and for slightly over the asking price. Going back to 2019 (chart below) it's interesting to see that while sales are generally lower, the median price ranges back and forth from higher to lower. The one constant is that the average market time was higher and the list-to-sell ratio was lower in 2019. Note that in 2019, Glencoe condo sales were dismal. They had long market times and sold for much less than the list price. And a compl...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
See What Sold in Your North Shore Village in June 2022 WINNETKAClick here to see all Winnetka homes that sold in June 2022Homes for sale: 36 ($650,000 to $16,000,000)Private network homes for sale: 9Median price year-to-date: $1,500,000Current supply of inventory: 1.4 monthsSee all Winnetka homes for saleSee all Winnetka condos for sale WILMETTEClick here to see all Wilmette homes that sold in June 2022Homes for sale: 40 ($385,000 to $3,200,000)Private network homes for sale: 8Median price year-to-date: $895,000Current supply of inventory: 1.1 monthsSee all Wilmette homes for saleSee all Wilmette condos for sale  KENILWORTHClick here to see all Kenilworth homes sold in June 2022Homes for sale: 11 ($900,000 to $14,000,000)Private network homes for sale: 3Median price year-to-date: $2,100...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
Have you driven by the Mallinckrodt building on Ridge Road near Lake Avenue and wondered what they are like inside? Does it feel like the former convent it once was or the school it was converted to?The answer is yes . . . and no!  This beautiful Renaissance building has retained some of the stunning features of its past, both inside the converted condos and outside. But beyond that, the nun's rooms and classrooms are long gone in favor of quality built units with all the modern amenities.Mallinckrodt sits on a stunning 14-acre park in a residential section of Wilmette, near transportation and shopping.  There was much discussion about how to develop the complex when the Village of Wilmette purchased it, finally deciding to keep the building and convert it into condos for active seniors...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
What Sold in Your Winnetka and North Shore VillageMay 2022 May was a big month for sales in Winnetka, Wilmette, and Glencoe where there was an average 41% increase in total home sales over April. The current supply of inventory went down slightly in each village as well. The median price-to-date went up in Winnetka, Kenilworth, Glencoe, and down slightly in Wilmette and Northfield.  WINNETKAClick here to see all Winnetka homes that sold in May 2022Homes for sale: 39 ($650,000 to $16,000,000)Median price year-to-date: $1,470,000Current supply of inventory: 1.4 monthsSee all Winnetka homes for saleSee all Winnetka condos for sale WILMETTEClick here to see all Wilmette homes that sold inHomes for sale: 47 ($469,000 to $5,495,000)Median price year-to-date: $860,000Current supply of inventor...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
Inman News, a large aggregator of real estate news, published "Home Prices Soared 20% Annually in February. Analysts Say We've Peaked." This was a report on real estate activity across the nation.I decided to check the Winnetka North Shore real estate market for comparison. Inman used February of 2021 to compare to 2022. I needed more data so I used the first quarter of 2021 to compare to 2022.Prices for sold homes in the North Shore villages of Winnetka, Wilmette, Kenilworth, Glencoe, and Northbrook surpassed the national numbers.  The total number of homes sold was lower, which has contributed to the price frenzy.    2021 2022 Total homes sold 200 167 (-16.5%) Median sales price $893,000 $1,125,000 (+26%) Average sales price $1,083,000 $1,416,000 (+31%) Total volume $216,652,588 $236,...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
Here is what sold in your North Shore village in March 2022 WINNETKAClick here to see all Winnetka homes that sold in MarchHomes for sale: 21 ($449,000 to $6,999,000)Private network homes for sale: 12Under contract or pending: 51Median price year-to-date: $1,450,000Current supply of inventory: 1.5 monthsSee all Winnetka homes for saleSee all Winnetka condos for sale WILMETTEClick here to see all Wilmette homes that sold in MarchHomes for sale: 14 ($515,000 to $2,099,000)Private network homes for sale: 8Under contract or pending: 62 (double a month ago)Median price year-to-date: $850,000Current supply of inventory: 1.3 monthsSee all Wilmette homes for saleSee all Wilmette condos for sale  KENILWORTHClick here to see all Kenilworth homes sold in MarchHomes for sale: 7 ($949,000 to $5,750,...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
Chicago's North Shore generally consists of the communities that abut Lake Michigan. They are Wilmette, Kenilworth, Winnetka, Glencoe, and Northfield. Northfield is not on the water, but it shares a zip code with Winnetka.The one thing these towns have in common is New Trier High School - a highly rated and desirable school that keeps home prices high. If you're not familiar with the area, the median price of homes (based on past 12-month sales) looks like this:Winnetka$1,303,000Wilmette$850,000Kenilworth$1,340,000Glencoe$1,200,000Northfield$825,000If buyers desire to live in these communities but find these prices overwhelming, there are indeed homes to be found. Every town has homes like this - located on busy streets, near commercial areas, or in need of significant renovation.In the...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
New month, new year. We'll have to wait and see if enough new inventory comes on the market in the next few months. It's a fact now that mortgage rates will rise in 2022 which will spur additional buyers to join the house hunt. WINNETKAClick here to see all  14 Winnetka homes that sold in JanuaryHomes for sale: 21   ($490,000 to $5,275,000)Private network homes for sale: 13   ($1,599,000 to $9,995,000)Under contract or pending: 17 Current supply of inventory: 1.8 monthsSee all Winnetka homes for saleSee all Winnetka condos for sale  WILMETTEClick here to see all 16 Wilmette homes that sold in JanuaryHomes for sale: 10   ($569,000 to $5,250,000)Private network homes for sale: 12   ($300,000 to $2,245,000)Under contract or pending: 26Current supply of inventory: 1.5 monthsSee all Wilmette...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
2021 was a big year for condo sales in the North Shore. Many sellers downsized and moved into small condos and townhouses throughout the area. And there seemed to be many condos for sale to accommodate them. Currently, inventory is very low.  Compared to 2020, every town had an increase in the number of sales.Winnetka sales up 86% (22 sales in 2020)Wilmette sales up 23% Glencoe sales up 60%Northfield sales up 28%Evanston sales up 39%Glenview sales up 24%Northbrook sales up 28%In spite of high sales, the median sale price did not rise in every village. Northfield saw the highest jump in price with a 47% increase.  Glencoe had a huge drop at 35% lower than 2020 but it has the smallest sampling and so the data is not as accurate.Total sales for all seven villages was 1,724. 8 were studios1...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
Simply put - there's not nearly enough housing inventory to go around. Of course, this is January when inventory is always at its lowest.  Winnetka, for example, has just 28 homes for sale. Here's what I wrote in 2010 during the recession:"197 homes for sale in Winnetka, Illinois."This tight market will ease up in the following months leading up to spring as it always does. We'll just have to wait and see how many Here is what sold in your village in December:WINNETKAClick here to see all  25 Winnetka homes that sold in DecemberHomes for sale: 28   ($490,000 to $5,995,000)Private network homes for sale: 15   ($945,000 to $9,995,000)Under contract or pending: 30Median price in 2021:  $1,300,000Current supply of inventory: 1.9 monthsSee all Winnetka homes for saleSee all Winnetka condos f...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
What Sold In Your North Shore Village in October, 2021Yes, the market has started cooling - which it always does this time of year. The "cooling" mainly pertains to the frenzied bidding that drove prices up with multiple offers.Fewer homes are now selling over the list price which has been common for the year to date. As before, inventory continues to be low, with just a few months of inventory in each village.Since January 1, four-bedroom homes in Winnetka sold for 98% of list price while 5+ bedroom homes averaged 96%.Wilmette homes of all sizes sold for 98% of list price.Kenilworth homes sold for 95-96% of list price.Glencoe homes sold for 97% of list price except 5+ bedroom homes which averaged a sale of 95% of list price.Northfield homes sold for between 94-9% of list price.If selli...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
The median price of North Shore homes in the villages of Winnetka, Wilmette, Kenilworth, Northfield, and Glencoe dipped to $990,000 at the end of August. That was a 18% decrease from the previous month's median price of $1,210,000. The previous low median was $850,000 from April 2021.It's natural for home sales to dip at this time of year. Fewer buyers are looking now and many have decided to wait until the spring market of 2022. Inventory is still low frustrating everyone. Learn more about the North Shore real estate market: Median sales price:  Market time for home sales averages 40 days:  Under contract homes are decreasing - normal at this time of year:  New listings are also slowing as we head into fall: 168 homes for sale in Winnetka, Wilmette, Kenilworth, Glencoe, and Northfield:  
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
There were 128 total single family home sales in August in Kenilworth, Winnetka, Wilmette, Glencoe, and Northfield (down from 142 in July.) The median price was $1,000,000 ($1,223,000 in July.)Sales are tapering off - a function of both the end of summer and continued low inventory. WINNETKASee all Winnetka property sales in AugustHomesCondosCURRENT WINNETKA REAL ESTATE MARKETYear-to-date sales: 246Homes currently for sale: 49Price range: $599,000 to $7,500,000Private network homes for sale: 21Condos for sale: 5Under contract or pending: 37Current months supply of inventory: 2.5See all Winnetka homes for saleSee all Winnetka condos for sale WILMETTEClick to see all Wilmette properties sold in AugustHomesCondosCURRENT WILMETTE REAL ESTATE MARKETYear-to-date sales: 353Homes currently for ...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
In July, the North Shore villages of Winnetka, Wilmette, Kenilworth, Glencoe, and Northfield had 142 total home sales, just shy of June's 151 homes. The median sold price was $1,223,000. There were 123 total sales last July (actually a high number) but the median price was $1,000,000.Of the 142 homes sold in June, the average list to price ratio was 98% and the average days on market was 33. Still a strong seller's market without the frenzy of the spring market. You can also see that the current month's worth of inventory hovers between 2 to 3 1/2 months. Anything under 5 is a seller's market and and 2-3 is an extreme seller's market.  WinnetkaClick to see Winnetka sold homes in JulyCurrent Winnetka Real Estate MarketSold homes in July:49Year-to-date home sales: 232Homes currently for s...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
Have you wondered if the condo market has been as hot as the single-family home market during the past year? Well, it's been very good but not quite as fast as single-family homes have been selling. Every North Shore village except Glencoe saw higher prices, faster sell times, and better list-to-price ratios than the previous year. Although . . .  first six months of 2020 were a bad time for any type of sales. Nevertheless, let's take a look at each village: WINNETKASee all Winnetka Condos for Sale  WILMETTESee all Wilmette Condos for Sale  GLENCOESee all Glencoe Condos for Sale  NORTHFIELDSee all Northfield Condos for Sale  GLENVIEWSee all Glenview Condos for Sale  EVANSTONSee all Evanston Condos for Sale CONDO PRICES IN PAST 12 MONTHSUp 8.5% MONTHS SUPPLY - at 3.3 months, down from 5....
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
What Sold In Your North Shore Village in June 2021 Record sales and closes in all North Shore villages in June. June saw a total of 151 units sold in all of Winnetka, Wilmette, Kenilworth, Glencoe, and Northfield. The median price was $1,125,000. The previous June (2020) had 88 total sales and the median price was $968,000. Although the comparison is a bit unfair since 2020 through June had several months of extremely low sales.The majority of homes have sold in under a month, with many in under a week. There are a few homes with long market times but those were overpriced to start and slow to reduce.  The links in blue (below) under the town's name show sales by address in each villages. WINNETKA Click to see all Winnetka Home Sales in June 2021 Current Winnetka Real Estate MarketSold ...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
 If you haven't gotten enough real estate data, I'm here to help. I'm fascinated by charts and graphs - nothing shows more clearly the state of something than they do. All data is for the past 12 months and includes Winnetka, Wilmette, Kenilworth, Glencoe, and Northfield unless otherwise noted.    Median Market Time has dropped significantly   Median % of Original Price is much higher - excellent   Months Supply of Homes - leaves us with low inventory  Homes for Sale - going down, down   Median Market Time for Winnetka, Wilmette, Kenilworth, Glencoe individually  Number of showings per property - the lower the number, the faster it sold (not historically true, but specific for this market.)  This final chart shows the entire Northern Illinois area that is encompassed within our Multiple...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
Who ever thought that we could transition so quickly from high inventory to low inventory? It became clearer as 2020 drew to a close but then the spring market delivered a whole new crop of homes. Which are now long gone.  Of course, there are still houses for sale. For instance, Winnetka currently has 40 listed homes, some of which have not sold after a month or two on the market. Exactly half of the those homes are priced over $2 million which necessarily means that they will take longer to sell. Of the twenty homes under $2 million, some are overpriced. Even in this hot market buyers will push back when they sense price exceeds value. In Wilmette where there are 66 homes for sale, 38 have been on the market for over 30 days. Price seems to be the issue for many of those, or location ...
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