Your Ultimate Guide to Real Estate on Chicago's North Shore

North Shore Market Update – May 2013

I think it’s safe to say that the recession is over and the recovery has taken hold. The housing market continues to gain momentum, with home sales up 10% on the North Shore from May of last year.

North Shore Market Update – May 2013 vs. Year Ago

May 2013 real estate data

Although prices for May show a slight dip, it is just one month’s data. The median price for 2013 year to date market data is a better indicator of what’s really going on. It’s up 3%, right in line with the economists’ predictions (for once) and almost all villages are showing price appreciation on a year to date basis.
Meanwhile market time continues its steady decline, with homes staying on the market just an average of 4.3 months. While that sounds like a long time, the market time during a “normal” market is 6 months. Plus, averages can be misleading. The fact is that many houses are selling in a matter of days and with multiple offers. There is just not enough inventory to meet the current buyer demand.

Want more data about the North Shore real estate market? You can get it here.

If you have any questions about what’s going on in the North Shore housing market, give us a call at 847-881-6657 or send us an email. We’re never too busy to answer your questions!

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