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Cook County, IL Real Estate News

By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
Buying a Home AS-IS. Are You Being Serious?In a buyer's market, buyers won't offer AS-IS unless the house is marketed that way. During this current boom and strong seller's market, that has changed.  I see the  widespread use of buyers hoping to make their offer stand out by saying they will buy the house "AS-IS." The great majority will still conduct an inspection for their own knowledge, but they're maintaining that they will not ask for repairs. Or are they?I have represented three sellers recently and all three properties had multiple offers. In reviewing the offers with the seller, the price is what sellers focus on first. Then we move on to other points and an AS-IS offer is a plus. If the inspector notes something seriously wrong with a major component of the house, then the AS-I...
Comments 7
By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
What Sold in Your North Shore Village in May 2024Since January of this year, about half our villages have slightly more inventory and half have somewhat less. That's normal considering the small size of the towns and the low inventory. As for the median home price, all towns have seen prices rise since January. Winnetka +11.5% Wilmette +1.0% Kenilworth +1.67% Glencoe +15.8% Northfield +12.7% Glenview +7.6% Northbrook +4%  WINNETKAClick here to see all Winnetka homes sold in May 2024All homes for sale:  28Current month's supply of inventory:  1.6Past 12 months median price: $1,790,000See Winnetka homes for saleSee Winnetka condos for saleSee Winnetka townhouses for sale WILMETTEClick here to see all Wilmette homes sold in May 2024All homes for sale:  25Current months supply of inventory:...
Comments 3
By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
Hubbard Woods Real Estate Sales  May 2024Seven new homes were listed in May and all 7 are under contract - one has closed already.  7 NEW HUBBARD WOODS HOMES FOR SALE IN FEBRUARY  1099 Fisher Lane: $1,590,000 (under contract) 1224 Asbury: $1,639,000 (under contract) 1197 Chatfield: $1,795,000  844 Hibbard: $2,100,000 (under contract) 900 Pine Tree Lane: $2,195,000 (under contract) 717 Rosewood: $2,225,000 (under contract) 1228 Westmoor: $3,999,000 (under contract)   1 NEW PRIVATE HUBBARD WOODS LISTING IN MAY 1501 Tower: $1,249,000  3 CLOSED HUBBARD WOODS LISTINGS IN MAY 790 Rosewood List price: $1,730,000 Sold price: $1,685,000 Days on market: 14 1197 Chatfield List price: $1,795,000 Sold price: $1,805,000 Days on market: 2 1016 Westmoor List price: $2,839,000 Sold price: $2,900,000  CU...
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By Goran Utvic, Chicago 2 Flat Specialist
(Goran Utvic Real Estate Broker/Construction Consultant)
 Chicago New Construction Homes: Spotting Quality BuildsIntroAs a seasoned real estate agent and construction industry veteran, I've learned that finding a high-quality new construction home in the Chicago area requires a keen eye and a discerning approach. When you're investing hundreds of thousands, or even millions, of dollars into a property, you want to ensure you're getting a home that's a good quality build and not just an ok one.TrimThe first thing I examine when walking into a new construction property is the trim. These days, many builders opt for a clean, white aesthetic, using medium-density fiberboard (MDF) for the baseboards, door frames, and other trim elements. While MDF may be a more cost-effective choice for the builder, it's not nearly as durable as real wood. MDF is ...
Comments 2
By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
What's Happening With Real Estate Commissions By now most people have read about the recent lawsuit against the NAR. From the questions I get from clients and friends, it's apparent no one is quite certain what it means. And of course, much of it is misinformation. What is certain is that there is a sea change coming to real estate and it starts August 17, 2024.The gist of the lawsuit against the NAR was the "offer of compensation" listed on Multiple Listing Sheets. That phrase refers to the seller who covers the commission for both their agent and the buyer's agent. The portion of the commission that went to the buyer's agent was advertised on the Multiple Listing Service that agents use. The plaintiff's lawsuit contended that NAR and large brokerages conspired to inflate commissions, ...
Comments 8
By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
What Sold in Your North Shore Village in March and April 2024?Inventory is lower now than earlier in the year and the median price is up in most villages. This is nirvana for sellers and continues to be an ordeal for buyers. Buyers are not, however, deterred by rising interest rates (at least around here.) Their only obstacle is to beat out the other buyers. WINNETKAClick here to see all Winnetka homes sold in March/April 2024All homes for sale:  20Current month's supply of inventory:  1.7Past 12 months median price: $1,675,000See Winnetka homes for saleSee Winnetka condos for saleSee Winnetka townhouses for sale WILMETTEClick here to see all Wilmette homes sold in March/April 2024All homes for sale:  27Current months supply of inventory:  1.1Past 12 months median price: $995,000See Wil...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
Hubbard Woods Real Estate Sales in March and April 2024Sales were hot over March and April for new listings. Hubbard Woods has several new construction homes lingering on the market but the sellers/builders have been slow with price reductions. Even in the fast market, buyers will not overpay for homes they feel are priced too high. The 12-month median sale price rose by 15% since the end of February.  10 NEW HUBBARD WOODS HOMES FOR SALE IN FEBRUARY (7 homes already under contract and 1 sold) 870 Heather: $1,185,000   1114 Merrill: $1,500,000 (under contract) 1133 Scott: $1,695,000 (under contract) 854 Boal: $1,699,000 (under contract) 780 Rosewood: $1,730,000 (under contract) 777 Rosewood: $2,199,000 (under contract) 1325 Hackberry: $2,275,000 (under contract) 901 Greenwood: $2,395,000...
Comments 3
By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
One thing is certain - numbers don't lie. Looking at these charts shows our local market as clearly as possible over the past five years. You'll notice only 4 years are listed below and that is because I felt that 2020's statistics are meaningless. For single-family homes, home prices marched up and market time dropped. The list-to-sell ratio also went up indicating that home prices sold at close to their list price. Total home sales skyrocketed in 2022 and then declined in the following two years. Condo sales look different. The total sold and the median price still match the single-family home's trajectory. But the market time and price ratio wobbled around.  Currently, inventory continues to stay stubbornly low and buyers are still frustrated with having to deal with multiple offers ...
Comments 4
By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
What Sold in Your North Shore Village in February? Homes that closed in February were unusually low across all villages. That will begin to change as the inventory increases and homes sell quickly. The spring market has started - not only by the calendar but by the warm weather.Every single village had a slight increase in the median sale price over the past 12 months. And every village had an even slighter increase in inventory. The months-supply-of-inventory has stayed virtually the same.  WINNETKAClick here to see all Winnetka homes sold in February 2024All homes for sale:  25Current month's supply of inventory:  1.7Past 12 months median price: $1,620,000See Winnetka homes for saleSee Winnetka condos for saleSee Winnetka townhouses for sale WILMETTEClick here to see all Wilmette home...
Comments 2
By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
Hubbard Woods Real Estate Sales in January 2024  2 NEW HUBBARD WOODS HOMES FOR SALE IN JANUARY 1476 Scott: $975,000 1045 Starr: $4,350,000    1 NEW PRIVATE HUBBARD WOODS LISTING IN JANUARY NO PHOTO 765 Walden: no price given but appears to be a teardown.   1 CLOSED HUBBARD WOODS LISTINGS IN JANUARY 1476 Scott List price: $975,000 Sold price: $985,000 Days on market: 6  CURRENT HUBBARD WOODS REAL ESTATE SNAPSHOTHomes for sale:2  (priced $2,700,000 and $2,875,000)Homes under contract: 1Median home price for past 12 months:  $1,435,000Condos for sale: 0  While you're here, please see all Hubbard Woods Homes for Sale  Sign up to get North Shore real estate news delivered to your inbox.It's free, we'll never sell your info, and you can opt out anytime.What's included?Local market trendsNew l...
Comments 3
By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
What Sold in Your North Shore Village in January? WINNETKAClick here to see all Winnetka homes sold in January 2024All homes for sale:  24Current month's supply of inventory:  1.7Past 12 months median price: $1,605,000See Winnetka homes for saleSee Winnetka condos for saleSee Winnetka townhouses for sale WILMETTEClick here to see all Wilmette homes sold in January 2024All homes for sale:  29Current months supply of inventory:  1.1Past 12 months median price: $995,000See Wilmette homes for saleSee Wilmette condos for saleSee Wilmette townhouses for sale KENILWORTHKenilworth homes sold in January 2024All homes for sale: 10Current month's supply of inventory:  2.0Past 12 months median price: $1,500,000See Kenilworth homes for saleGLENCOE Click here to see all Glencoe homes sold in January ...
Comments 2
By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
North Shore Condo Report for 2023As you can see, our neighbors to the west and south have the most condos for sale.  In Winnetka, the list-to-sell price ratio was over the list price and other villages were very close to full price.Our North Shore villages of Winnetka, Wilmette, Glencoe, Northfield, Evanston, Glenview, and Northbrook all offer a wide spread in price as well. Wilmette had a sale for $125,000 and one for $1,150,000. There's truly something for everyone - if you're fast!Please note on the chart below that you can now click on the village's name in blue and see all the sales for the year.   While you're here, please see all North Shore condos for sale(plus 37 more for sale on the Private MLS - call me for more information)  Winnetka Condos Townhouses Wilmette Condos Townhou...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
Hubbard Woods Winnetka Real Estate for December 2023Hubbard Woods sales were slow in December but that's normal. Predictions are for mortgage rates to lower and steady out in 2024. As the year progressed, there were fewer wildly over-the-list-price bids but many homes still sold close to or at the asking price. The following chart shows the contrast between 2022 and 2023.    Total Home Sales Median Price Average Days On Market 2022 70 $1,620,000 34 2023 59 $1,536,000 48   NO NEW HUBBARD WOODS HOMES FOR SALE IN DECEMBER 1 NEW PRIVATE HUBBARD WOODS LISTING IN DECEMBER  1045 Starr: $4,350,000   2 CLOSED HUBBARD WOODS LISTINGS IN OCTOBER 870 Heater List price $1,189,000 Sold price: $1,185,000 Days on market: 14 1210 Whitebridge List price: $1,750,000 Sold price: $1,675,000 Days on market: 3...
Comments 2
By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
What Sold in Your North Shore Village in December? WINNETKAClick here to see all Winnetka homes sold in December 2023All homes for sale:  26Current month's supply of inventory:  1.6Year-to-date median price: $1,1675,000See Winnetka homes for saleSee Winnetka condos for saleSee Winnetka townhouses for sale WILMETTEClick here to see all Wilmette homes sold in December 2023All homes for sale:  26Current months supply of inventory:  1.2Year-to-date median price: $1,000,000See Wilmette homes for saleSee Wilmette condos for saleSee Wilmette townhouses for sale KENILWORTHKenilworth homes sold in November 2023All homes for sale: 8Current month's supply of inventory:  1.9Year-to-date median price: $2,450,000See Kenilworth homes for saleGLENCOE Click here to see all Glencoe homes sold in December...
Comments 3
By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
2023 North Shore Home Sales - Highest, Lowest, and MedianThe figures below represent total sales in the villages listed for 2023. I've included the total sales, plus the highest, lowest, and median prices.  Winnetka has the highest listed sale and the highest median price.Glenview had the highest number of sales (it's the largest village listed) as well as the best-priced house.    Total Sales Highest Price Lowest Price Median Price           Winnetka 187 $12,500,000 $500,000 $1,675,000 Wilmette 295 $4,200,000 $340,000 $997,000 Kenilworth 49 $4,00,000 $600,000 $1,67,000 Glencoe 117 $6,250,000 $300,000 $1,350,000 Northfield 58 $2,500,000 $275,000 $940,000 Glenview  407 $3,950,000 $202,000 $700,000 Northbrook 330 $3,525,000 $285,000 $700,000 How have these numbers changed from home sales ...
Comments 2
By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
Hubbard Woods Winnetka Real Estate for November 202356 homes have sold year-to-date in Hubbard Woods this year. Of those, one was a 2-bedroom home, 7 were 3-bedroom  homes, 15 were 4-bedroom homes, and 32 had 5+ bedrooms.  Not surprisingly, the smaller the home, the quicker it sold.  1 NEW HUBBARD WOODS HOME FOR SALE  805 Sumac: $2,99,900    1 NEW PRIVATE HUBBARD WOODS LISTINGS IN October 998 Chatfield - $565,000  3 CLOSED HUBBARD WOODS LISTINGS IN OCTOBER 972 Tower List price: $599,000 Sold price: $665,000 Days on market: 6 920 Private List price: $2,500,000 Sold price: $2,675,000 Days on market: 9 1361 Edgewood List price: $2,799,999 Sold price: $2,750,000  CURRENT HUBBARD WOODS REAL ESTATE SNAPSHOTHomes for sale: 7(priced from $565,000 to $3,499,000)Homes under contract: 2Median home...
Comments 5
By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
What Sold in Your North Shore Village in November? WINNETKAClick here to see all Winnetka homes sold in November 2023All homes for sale:  26Current month's supply of inventory:  1.6Year-to-date median price: $1,585,000See Winnetka homes for saleSee Winnetka condos for saleSee Winnetka townhouses for sale WILMETTEClick here to see all Wilmette homes sold in November 2023All homes for sale:  30Current months supply of inventory:  1.2Year-to-date median price: $1,000,000See Wilmette homes for saleSee Wilmette condos for saleSee Wilmette townhouses for sale KENILWORTHKenilworth homes sold in November 2023All homes for sale: 9Current month's supply of inventory:  2.0Year-to-date median price: $1,775,000See Kenilworth homes for saleGLENCOE Click here to see all Glencoe homes sold in November ...
Comments 2
By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
North Shore condos are . . . scarce. Let's be honest, they're selling as fast as homes. In the North Shore communities, there are just 16 condos for sale plus 3 in the MLS Private Market.  One condo is for sale in Glencoe, 2 in Northfield, 13 in Wilmette, and 3 in Winnetka. They range in price from a 1-bedroom/1-bath condo for $159,000 to a 2-bedroom/2 1/2 bath in Wilmette on the lake for $1,100,000. The private market has a Winnetka 3-bedroom/ 3 1/2-bath condo without a list price that I understand will be listed at around $1,500,000. That is located in the new "Walden" building on Green Bay Road which is still under construction.At the beginning of this article, I said condos for sale are scarce. However, sales in the past decade (below) show some years just slightly higher than 2023....
Comments 3
By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
What Sold in Your North Shore Village in October? WINNETKAClick here to see all Winnetka homes sold in October 2023All homes for sale:  26Current month's supply of inventory:  1.6Year-to-Date median price: $1,585,000See Winnetka homes for saleSee Winnetka condos for saleSee Winnetka townhouses for sale WILMETTEClick here to see all Wilmette homes sold in October 2023All homes for sale:  30Current months supply of inventory:  1.2Year-to-date median price: $1,000,000See Wilmette homes for saleSee Wilmette condos for saleSee Wilmette townhouses for sale KENILWORTHNO Kenilworth homes sold in October 2023All homes for sale: 9Current month's supply of inventory:  2.0Year-to-date median price: $1,775,000See Kenilworth homes for saleGLENCOE Click here to see all Glencoe homes sold in October 20...
Comments 2
By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
Hubbard Woods Winnetka Real Estate for October 2024Two homes sold in October, both for less than the list price, by 3.5% and 12.75%. The second percentage is higher than normal because it was sold as land.  And two of the new homes to be listed are under contract. Since January 1 there have been 53 home sales in Hubbard Woods. The average list price to sale price ratio is at 100% even as we begin to see some homes sell for less. The average market time has been 45 days although most homes sell more quickly. 3 NEW HUBBARD WOODS HOMES FOR SALE  972 Tower: $599000 (under contract)   870 Heather: $1,189,000 (under contract) 1234 Westmoor: $3,499,000  1 NEW PRIVATE HUBBARD WOODS LISTINGS IN October 1210 Whitebridge: $1,750,000 2 CLOSED HUBBARD WOODS LISTINGS IN OCTOBER 1369 Tower List price:...
Comments 2
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