North Shore Views

North Shore Market Update: 1st Half 2011

North Shore Chicago home sales for the first half of 2011 were down 11% over last year. Seems pretty negative, but there’s a good explanation, which is that there was a home buyer tax credit in effect during the first half of 2010, and this gave the market a pretty substantial boost last year. Better news is that prices are up 4% this year and time on market is down 6%.

As for individual towns, only Winnetka, Kenilworth and Glencoe posted sales gains, and Glencoe’s was a whopping 53% (from 47 homes sold in 2010 to 72 in 2011). What drove that increase? Lots more sales at every price point: 5 more homes sold under $500,000,  8 more between $500,000 and $999,000, 9 more between $1,000,000 and $1,999,999 and 3 more over $2,000,000. Highland Park continues to have the weakest trends, declining 27% in the first half.

Price trends were mostly in positive territory, except for Winnetka (-8%) and Highland Park (-7%).

Wilmette market time was the shortest at 143 days (under 5 months), followed by Evanston with 153 days. Northfield and Lake Forest had the longest market time, at 316 days and 281 days, respectively.

North Shore Market Update
1st Half 2011 vs. Year Ago

Source: MRED LLC – Data for single family homes. Deemed reliable but not guaranteed

Tags: North Shore market data, North Shore real estate trends, North Shore sales trends

This entry was posted on Monday, July 4th, 2011 at 8:54 pm and is filed under North Shore market data. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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