The Nash Team
North Shore Experts
  • Home
  • Search
    • Search All Listings
    • Search by Map
    • Featured Listings
    • New Listing Notifications
  • Neighborhoods
    • Wilmette
    • Evanston
    • Winnetka
    • Glenview
    • Northfield
    • Kenilworth
    • Glencoe
    • Northbrook
  • Buyers
    • Buyers
    • How We Assist Buyers
  • Sellers
    • Sellers
    • How We Assist Sellers
  • Blog
  • About
    • The Nash Team
    • John Nash
    • Ted Nash
    • Recent Sales
    • Our Philosophy
    • Testimonials
  • Contact
Home > North Shore Market Report – First Half of 2017

North Shore Market Report – First Half of 2017

October 25, 2017 by jnash Leave a Comment

The real estate market in 2017 has been strong.  Prices of North Shore single family homes are up 2% for the first half of 2016, and the number of home closings is up 9%.  Market time has increased by 3 days and inventory has been steady.

Here are the first half statistics. 

    Number of Homes Sales   Average Market Time    
    1/2 yr-16 1/2 yr-17   1/2 yr-16 1/2 yr-17    
Wilmette   206 201   94 106    
Evanston   229 228   82 72    
Winnetka   108 141   193 169    
Glenview   259 305   107 114    
North Shore 2160 2364   119 122    
                 
    Average Home Price (in thousands)   Median Home Price (in thousands)
    1/2 yr-16 1/2 yr-17 % Change    1/2 yr-16 1/2 yr-17 % Change
Wilmette   876 832 -5%        745 720 -3%
Evanston   593 620 5%         510 531 4%
Winnetka   1383 1307 -5%       1176 1123 -5%
Glenview   590 640 8%        510 545 7%
North Shore 670 685 2%        533 545 2%

 

The above statistics are for detached single family homes and were compiled from data collected by the Multiple Listing Service (Midwest Real Estate Data LLC), and may not include all home sales. 

Prices:  The North Shore as a whole saw modest price appreciation in 2017 with the average and median up 2%.  However, that varied by location and price range with some areas seeing solid increases and others price declines.  In general, lower price ranges have fared better.  In regard to the locations in my report, Evanston and Glenview saw price appreciation while Wilmette and Winnetka saw declines.  Locations near town centers have fared better than those further away.

Inventory:  Wilmette currently has 166 active homes on the market that are not under contract.  That is about 5 months of inventory at the current pace of sales.  This is down from 192 homes that were on last year at this time. Evanston inventory has been tight and steady.  Its 137 active homes is just 3.6 months of inventory.  Evanston’s low inventory has helped its prices appreciate.  Winnetka has 172 active homes which is 7.3 months of inventory and Glenview has 296 homes which is 5.8 months.  The North Shore as a whole has 2648 active homes that are not under contract which is 6.7 months and that is a small drop from 2016.

Interest Rates:  Interest rates were near all time lows at this time last year.  They rose in late 2016, but then came down a little subsequently.  Currently a 30 year fixed is about 4% and a 15 year is about 3.5%.

 

Filed Under: North Shore Market Reports

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Register Login (847) 338-2756
  • Facebook
Email Us

Listing Notifications

Sign Up! New listings delivered to your inbox!
Sign Up Now

Stay Connected

  • Facebook
Email Us

The Nash Team

John and Ted Nash are the Nash Team. They grew up in Wilmette where their dad had a real estate office and sold North Shore homes for over 50 years. They each have over 25 years experience selling homes and have sold over 1000 of them. John is a veteran and University of Notre Dame graduate. Ted graduated from the University of Kansas. They have the experience and dedication to ensure your transaction is smooth and rewarding. Call today to see how this unmatched team can assist you.
Meet The Team

Jameson Sotheby’s International Realty

2934 Central St
Evanston, IL 60201

(847) 338-2756 John
(312) 505-1959 Ted
Contact Us

sitemap   •   admin   •   ©2023 All Rights Reserved  •  Real Estate Website Design by IDXCentral.com