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

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*

Units Sold Avg. Price Market Time
Town % Change % Chg % Chg
Evanston 6% -24% 20%
Wilmette -22% -14% 28%
Glenview 25% 16% 19%
Northfield 200% -73% 159%
Winnetka 138% -39% -1%
Glencoe 38% 15% 69%
Highland Park 22% -4% -18%
Lake Forest 67% -1% 25%
North Shore 32% -8% 21%

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

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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.

Town

# Units

for Sale*

Median List Price Average List Price Average D.O.M.
Evanston

225

$514,000

$695,154

240

Wilmette

155

$710,000

$887,632

280

Glenview

380

$664,950

$792,208

263

Northfield

64

$732,000

$885,750

314

Kenilworth

43

$1,899,000

$2,183,942

336

Winnetka

176

$1,499,000

$1,970,967

339

Glencoe

98

$1,099,450

$1,813,779

259

Highland Park

345

$679,000

$1,027,431

287

Lake Forest

316

$1,250,000

$1,911,778

320

North Shore

1802

$799,000

$1,236,879

288

* Detached single family houses (Source: MRED)

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