North Shore Views

Glencoe Real Estate Trends – March

The Glencoe market seems to be stabilizing. Although the numbers are nowhere near where they were at the market’s peak, they have definitely improved versus this time last year. Buyer activity is up as consumers seek to take advantage of low interest rates as well as the soon-to-expire tax credit.

Glencoe Home Sales

March home sales (including single family houses, condos and townhomes) were up 40% vs. March of last year (caution: low base size) and up 17% over last month.

Glencoe Home Prices

The price declines we have been experiencing since early 2008 appear to have leveled off, which is certainly good news. Both the median and the average prices were up in March versus last month and last year. The median sales price was $1,175,000, up 19% vs. last year and up a whopping 95% over last month. The average sales price was $1,162,929, up 31% vs. last year and up 99% vs. last month. Before you get excited and conclude that the market is back and prices are returning to peak levels, keep in mind that this big increase in average and median price was driven by the fact that in March there were 5 houses sold over $1,000,000 and one under, while in February there were 5 houses sold below $1,000,000 and only one above $1,000,000.

Inventory and Months Supply

In March there were 120 homes for sale in Glencoe, up slightly from last month (typical seasonality) and down 18% from March 2009. More importantly, the months supply of homes (the number of months it would take to sell all of the homes at the current rate of sale) is 17 months. This is higher than what we consider a balanced market (6-7 months), but a lot better than March 2009 when there was a 29 month supply of homes on the market.

Market Time

Days on market (DOM) is the average number of days a property is on the market before it sells. This number continues to rise, although the rate of increase has slowed, fortunately. The DOM for March was 185 days, up 64% from last month but only up 3% from last year.

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

Deadline for Vehicle Stickers – Wilmette and Glencoe

Attention Wilmette residents: today’s not just tax day but vehicle sticker day, so don’t forget to attach your 2010 vehicle sticker to your windshield.  After today you may be subject to a citation if you don’t have one on your car.

If you haven’t registered by mail you can buy a sticker in person at the finance counter at the Wilmette Village Hall, 1200 Wilmette Ave., during regular business hours. They cost $80 for vehicles and $95 for trucks.

A portion of the revenue generated from the sale of vehicle stickers is used to maintain the Wilmette’s infrastructure, including streets, alleys and curbs.

Glencoe residents, you have a bit more time. Your stickers must be displayed by May 1st. Cars are $75 and trucks are between $75 and $180, depending on the size. You can buy them at Glencoe Village Hall (either the Resident Service Desk or the Public Safety window).

If you live in one of the other nearby villages, you don’t need to worry about this for a while. Highland Park’s deadline is August 31st. Evanston and Winnetka are  in January.

Tags: Glencoe, Wilmette

Guide to Glencoe Preschools

In my first post about North Shore preschools I talked about some criteria for selecting a preschool. In this post I share my top picks for preschools located in Glencoe.

Children’s Circle Full Day Preschool

Takiff Center, 999 Green Bay Rd., Glencoe, IL 60022
(847) 835-3035

Children’s Circle is a program of the Glencoe Park District that serves children 15 months to 6 years old, offering a full day preschool program, as well as before and after kindergarten care. It operates year round and children may attend 2,3,4 or 5 days a week.

The Early Learning Center is a half day preschool, also at the Takiff Center, for 2 – 4 year olds.

The focus is on helping children learn to navigate their world by supporting healthy social and emotional development and an enthusiasm for learning.

St. Elisabeth’s Nursery School

556 Vernon Ave., Glencoe, IL 60022
(847) 835-0609
www.sensglencoe.org

St. Elisabeth’s Church runs a non-religious morning preschool program (9:00-11:15 am) for 3 and 4 year olds. The program is designed to give young children a positive social experience, laying the foundation for them to become enthusiastic lifelong learners.
It also offers an extended day enrichment program from 11:15-12:45, with music, art, math, science and language activities.

North Shore Congregation Israel – Gates of Learning Preschool

1185 Sheridan Rd., Glencoe, IL 60022
(847) 835-0724
North Shore Congregation Israel – Gates of Learning Preschool

Gates of Learning Preschool is a great place to play and learn about Judaism. The warm and nurturing environment fosters the social, emotional, intellectual and physical development of its students. The program integrates Jewish customs with conventional preschool activities such as arts & crafts, music, dance, drama, science and outdoor play.

The program serves children from 15 months to 4 years old, with a parent-tot class for children under 2 years old. Older 2′s attend either two or three days a week; 3′s attend three or four days and 4′s attend five days a week.

J.C.C. Early Childhood Services at Am Shalom

840 Vernon, Glencoe, IL 60022
(847) 835-0008
website

Children 2-4 years old have fun while learning Jewish values and practices, Hebrew vocabulary and honoring Shabbat. This unique program combines education about Jewish traditions and heritage with a best in class early childhood development program. It integrates Reggio Emila into the learning experience, which encourages learning through probrlam solving, exploration, discovery and experimentation. J.C.C.also offers a summer camp.

Related posts:

• Guide to North Shore Preschools
• Highland Park Preschools
• Winnetka Preschools
• Kenilworth Preschools
• Wilmette Preschools

Tags: Glencoe, Preschools

Glencoe Real Estate Trends

Glencoe’s data is fairly consistent with the other North Shore communities. Sales are up and so is market time. The good news is that prices appear to be stabilizing and inventory is shrinking, meaning that the worst is probably over and the recovery is taking hold. The wild card is the tax credit and what will happen once it expires. Stay tuned.

Glencoe Home Sales
December sales of Glencoe homes (including single family houses, townhomes and condos) rose 37% from November and 37% from year ago. Sales had been rising through the second half of 2009, but dropped off in November in anticipation of the expiration of the new home buyer tax credit. Once that was reinstated (and expanded), sales picked up again in December.

Housing Prices
Glencoe prices, which had been trending downward since early 2008, appear to be stabilizing. December’s average sales price was $1,337,882, up 78% over November and up 15% vs. December 2008.

Inventory and Months Supply
Inventory has been consistently declining since May, with December inventory of 108 homes down 3% vs. November and down 12% vs. December 2008. Months supply, which is a measure of how long it would take to sell all the inventory at the current rate of sale, was 9.8 months. This is a decrease over November’s months supply of 13.8 months.  The improving trend since May 2009 is good news for sellers, since prices and market time are affected by the supply of homes on the market.

Time on Market
Market time, which has been on an upward trend since the beginning of 2008, continues to climb. December market time for houses sold was 162 days, up 7% from November and up 34% vs. December 2008.

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

Looking for a Meaningful Way to Celebrate Martin Luther King Day?

I’ve always thought it a bit ironic that we have holidays to observe days that have special significance for our country (Martin Luther King Day, President’s Day, Memorial Day, Veteran’s Day, etc.), and yet we don’t actually observe them at all. For most of us, they’re just days off…opportunities for a long weekend in Florida or wherever. Wouldn’t it make more sense  for our kids to stay in school on those days and actually LEARN about the event or the person we are honoring?

Here’s the next best thing: if you’re lucky enough to have Martin Luther King Day off next Monday, why not take your child and participate in A Day of Inspiration and Service at  Am Shalom in Glencoe. The event is co-sponsored by Interfaith Housing Center and the Volunteer Center of New Trier and is open to the public. There are service projects to benefit the Night Ministry, Project Linus and Orphans of the Storm, as well as inspirational speakers and entertainment. You can get more information here or see the flier here.

See you there.

Tags: Glencoe, MLK Day event

North Shore Market Update – December 2009

In December 2009 sales of single family homes on the North Shore were up 32% vs. December 2008, while average prices were down 8%. Market time increased 21% to 200 days for sold properties.

Average prices declined in all towns except Glenview and Glencoe. Winnetka and Northfield had the largest price declines AND the largest increase in units sold, so price does seem to be the biggest driver in the market today.

Wilmette was the only town were there were fewer units sold in 2009 than 2008.

December 2009 vs. Year Ago*

* Single family homes (Source: MRED – Deemed reliable but not guaranteed)

Tags: Evanston, Glencoe, Glenview, Highland Park, Kenilworth, Lake Forest, North Shore market data, North Shore real estate trends, North Shore sales trends, Northfield, Wilmette, Winnetka

North Shore Housing Inventory Snapshot – December 1, 2009

Here’s a snapshot of what’s on the market right now, including list prices and time on market. Not surprisingly, there seems to be a direct correlation between price level and time on market, with Winnetka, Kenilworth and Lake Forest being the priciest markets and also the ones where market time is longest, at well over 300 days.

* Detached single family houses (Source: MRED)

Tags: Glencoe, Glenview, Kenilworth, Lake Forest, North Shore market data, North Shore real estate trends, Northfield, Real estate, Wilmette, Winnetka

North Shore Market Update for October-November 2009

The market continues to show signs of improvement, driven by the expansion of the tax credit, continued low interest rates and attractive prices. Sales of detached single family homes on the North Shore were up 34% in October-November over the same period last year, an even stronger performance than last month’s report. Another positive sign is that the number of active listings at the end of October decreased by 11% vs. the end of July, suggesting that we are starting to work through the high inventory of homes on the market. Prices, on the other hand, continue to be soft, down 14% on average vs. year

October-November 2009 vs. Year Ago*

* Detached single family homes (Source: MRED)

Although the numbers vary by town, there is a consistent trend, and that is that most of the buying activity is happening at the lower end of the price range. Lake Forest showed a dramatic 72% increase in sales, but it was not in the multi-million dollar homes people associate with Lake Forest. In fact almost 20% of the homes sold in Oct.-Nov of this year were in the $600,000-699,000 price range and 77% were below $1,000,000;  in 2008 only 55% of the homes sold in Lake Forest were below $1,000,000.

Glencoe also showed a healthy increase in units sold but  42% of homes sold under $600,000 in 2009 vs. 31% in 2008. The increase in average price for Glencoe this year was driven by one sale over $5,000,000.

Tags: Glencoe, Lake Forest, North Shore market data, North Shore real estate trends, North Shore sales trends

November North Shore Market Update

North Shore real estate trends are currently a good news, bad news story.
The market is definitely inching towards a recovery, here as well as most
other markets, although the North Shore has benefited less from the first
time buyer tax credit than lower-priced markets. Sales on the North Shore
were up 21% in the latest two month period versus year ago, so reluctant
buyers are getting off the fence and things are moving again.  The not so
good news is that prices are down 7% and average time on market has
increased by 14% to 201 days. But that’s an average. Some properties are
selling quickly- those are the ones that are priced right from the
beginning, and buyers perceive a good value.

September-October 2009 vs. Year Ago*

* Single family homes (Source: MRED)

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Tags: Evanston, Glencoe, North Shore market data, North Shore real estate trends, North Shore sales trends, Wilmette, Winnetka