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Cook County, IL Real Estate News

By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
Charts, Charts, and More Charts There are 3 charts for the combined areas of Winnetka, Wilmette, Glencoe, and Kenilworth; and 3 for Northfield, Glenview, and Northbrook.)They show, in order, the median price change over 18 months, the median market time to sell, and the percentage of list price to sell price ratio (mostly over list price.)All charts are interactive - click and drag along the colored line! Median Price Change Over 1-Year Period(Winnetka, Wilmette, Kenilworth, and Glencoe) Northfield, Glenview, and Northbrook Median Market TimeWinnetka, Wilmette, Kenilworth, & Glencoe Northfield, Glenview, Northbrook Percentage of Sale Price to List PriceWinnetka, Wilmette, Kenilworth, and Glencoe Northfield, Glenview, and Northbrook See Homes for Sale WinnetkaWilmetteKenilworthGlencoeNor...
Comments 3
By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
What Sold in Your North Shore Village in August 2024  WINNETKAClick here to see all Winnetka homes or condos sold in August 2024All homes for sale:  40Current month's supply of inventory:  1.7Past 12 months median price: $1,750,000See Winnetka homes for saleSee Winnetka condos for saleSee Winnetka townhouses for sale WILMETTEClick here to see all Wilmette homes or condos sold in August 2024All homes for sale:  42Current months supply of inventory:  1.2Past 12 months median price: $1,111,000See Wilmette homes for saleSee Wilmette condos for saleSee Wilmette townhouses for sale KENILWORTHKenilworth homes sold in August 2024All homes for sale: 11Current month's supply of inventory:  2.3Past 12 months median price: $1,529,000See Kenilworth homes for saleGLENCOE Click here to see all Glencoe...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
Hubbard Woods Real Estate Sales  August 2024  3 NEW HUBBARD WOODS HOMES FOR SALE IN AUGUST 1492 Asbury: $1,250,000 1344 Edgewood: $2,150,000   1 NEW PRIVATE HUBBARD WOODS LISTINGSIN AUGUST 765 Sheridan: $18,000,000   6 CLOSED HUBBARD WOODS LISTINGS IN AUGUST 1168 Hamptondale List price: $1,375,000 Sold price: $1,385,000 Days on market: 5 1000 Vernon List price: $1,399,000 Sold price: $1,460,000 Days on market: 4 900 Pine Tree List price: $2,195,000 Sold price: $2,100,000 Days on market: 6 845 Glen Oak List price: $2,450,000 Sold price: $2,200,000 Days on market: 89 680 Walden List price: $2,995,000 Sold price: $2,950,000 Days on market: 6   1228 Westmoor List price: $3,999,000 Sold price: $4,255,000 Days on market: 4    CURRENT HUBBARD WOODS REAL ESTATE SNAPSHOTHomes for sale: 6 (priced...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
One Reason You Should Always Use a Buyer's Agent A SHORT RECAP OF THE DOJ RULINGThe big change in real estate commissions affects how much the seller pays and the agent representing the buyer earns. In the past, the seller paid a sum that was split between the listing and buyer's brokerages. The new rules stipulate that the seller is not required to pay the buyer's agent but can choose to.With this new ruling, sellers may decide not to pay the buyer's agent or could pay a smaller amount. Buyers have been told for years that using a buyer's agent is "free" to them. The dynamic is different now so buyers and their agents should discuss this before viewing homes.Some buyers will decide to buy a home unrepresented or resort to working directly with the listing agent (in states where dual-ag...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
Commission Changes in Real Estate - Part 2The path to figuring out the momentous changes in real estate has become a little clearer. Or muddier. @properties has provided us with four new forms - two for sellers and two for buyers. The 2 new Seller forms include An entirely new Exclusive Sales and Market Brokerage Agreement (the listing agreement)The new listing agreement has no reference to a "co-op" commission which has been eliminated. The commission discussion is limited to only the amount paid to the listing brokerage. Sellers will no longer be required to pay the buyer's brokerage a commission fee. Whether or not to offer a commission to the buyer's brokerage will be an important part of the listing agent's job and can be provided in the addendum at #2. A new form called a Compensa...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
What Sold in Your North Shore Village in July 2024 Over the past 12 months, Wilmette has had the lowest supply of inventory at 1.2 months. Kenilworth, Glencoe, and Northfield are slightly over 2 months. Either way, it indicates a continuing seller's market.  WINNETKAClick here to see all Winnetka homes or condos sold in July 2024All homes for sale:  35Current month's supply of inventory:  1.7Past 12 months median price: $1,7380,000See Winnetka homes for saleSee Winnetka condos for saleSee Winnetka townhouses for sale WILMETTEClick here to see all Wilmette homes or condos sold in July 2024All homes for sale:  40Current months supply of inventory:  1.2Past 12 months median price: $1,000,000See Wilmette homes for saleSee Wilmette condos for saleSee Wilmette townhouses for sale KENILWORTHKe...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
Hubbard Woods Real Estate Sales  July 2024     3 NEW HUBBARD WOODS HOMES FOR SALE IN JULY 845 Locust: $1,275,000 1000 Vernon: $1,399,000 (under contract) 804 Boal: $1,600,000   NO NEW PRIVATE HUBBARD WOODS LISTINGSIN JUNE 8 CLOSED HUBBARD WOODS LISTINGS IN JUNE 1501 Tower List price: $1,249.000 Sold price: $1,450,000 Days on market: 5 854 Boal List price: $1,699,00 Sold price: $1,950,000 Days on market: 2 1412 Scott List price: $1,999,999 Sold price: $1,999,999 Days on market: 6 844 Hibbard List price: $2,100,000 List price: $2,100,000 Days on market: 9 777 Rosewood List price: %2,199,000 Sold price: $2,100,000 Days on market: 5 717 Rosewood List price: $2,225,000 Sold price: $2,517,000 Days on market: 4 824 Boal List price: 2,690,000 Sold price: $2,550,000 Days on market: 28 8 Kent Lis...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
Winnetka North Shore Home Prices Continue to SoarThe real estate aggregator Inman News published this a few days ago:"The median U.S. sale price is up 5% year over year. But there are signs that price growth could slow soon, with the average home selling for under-list price, inventory rising, and a high share of listings growing stale.The median U.S. home sale price hit an all-time high of $397,482 during the four weeks ending July 7, up 4.7% year over year - the biggest increase in over four months. That's according to a new report from Redfin . . ."Let's take a look at the North Shore numbers.The median price for individual villages can be found at: What Sold in Your Winnetka North Shore Village.In Winnetka, Wilmette, Kenilworth, Glencoe, and Northfield villages, the median price for...
Comments 4
By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
What Sold in Your North Shore Village in June 2024 WINNETKAClick here to see all Winnetka homes or condos sold in June 2024All homes for sale:  40Current month's supply of inventory:  1.7Past 12 months median price: $1,7350,000See Winnetka homes for saleSee Winnetka condos for saleSee Winnetka townhouses for sale WILMETTEClick here to see all Wilmette homes or condos sold in June 2024All homes for sale:  43Current months supply of inventory:  1.3Past 12 months median price: $1,000,000See Wilmette homes for saleSee Wilmette condos for saleSee Wilmette townhouses for sale KENILWORTHKenilworth homes sold in June 2024All homes for sale: 11Current month's supply of inventory:  2.3Past 12 months median price: $1,475,000See Kenilworth homes for saleGLENCOE Click here to see all Glencoe homes o...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
Hubbard Woods Real Estate Sales  June 2024Six new homes were listed in June and 4 are under contract.The median sale price in June 2023 (for the previous 12 months) was $1,428,000. The median sale price this June is $1,750,000.  6 NEW HUBBARD WOODS HOMES FOR SALE IN JUNE 1501 Tower: $1,249,000 (under contract) 1168 Hamptondale: $1,375,000 (under contract) 1338 Sunview: $1,700,000 1412 Scott: $1,999,000 (under contract) 824 Boal: $2,690,000 (under contract) 1134 Sheridan: $3,200,000   2 NEW PRIVATE HUBBARD WOODS LISTINGSIN JUNE 845 Locust: $1,275,000 1344 Edgewood: $2,200,000 7 CLOSED HUBBARD WOODS LISTINGS IN JUNE 256 Woodlawn List price: $1,375,000 Sold price: $1,400,000 Days on market: 76 1114 Merrill List price: $1,500,000 Sold price: $1,500,000 Days on market: 20 1133 Scott List pri...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
Buying a Home AS-IS. Are You Being Serious?In a buyer's market, buyers won't offer AS-IS unless the house is marketed that way. During this current boom and strong seller's market, that has changed.  I see the  widespread use of buyers hoping to make their offer stand out by saying they will buy the house "AS-IS." The great majority will still conduct an inspection for their own knowledge, but they're maintaining that they will not ask for repairs. Or are they?I have represented three sellers recently and all three properties had multiple offers. In reviewing the offers with the seller, the price is what sellers focus on first. Then we move on to other points and an AS-IS offer is a plus. If the inspector notes something seriously wrong with a major component of the house, then the AS-I...
Comments 15
By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
What Sold in Your North Shore Village in May 2024Since January of this year, about half our villages have slightly more inventory and half have somewhat less. That's normal considering the small size of the towns and the low inventory. As for the median home price, all towns have seen prices rise since January. Winnetka +11.5% Wilmette +1.0% Kenilworth +1.67% Glencoe +15.8% Northfield +12.7% Glenview +7.6% Northbrook +4%  WINNETKAClick here to see all Winnetka homes sold in May 2024All homes for sale:  28Current month's supply of inventory:  1.6Past 12 months median price: $1,790,000See Winnetka homes for saleSee Winnetka condos for saleSee Winnetka townhouses for sale WILMETTEClick here to see all Wilmette homes sold in May 2024All homes for sale:  25Current months supply of inventory:...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
Hubbard Woods Real Estate Sales  May 2024Seven new homes were listed in May and all 7 are under contract - one has closed already.  7 NEW HUBBARD WOODS HOMES FOR SALE IN FEBRUARY  1099 Fisher Lane: $1,590,000 (under contract) 1224 Asbury: $1,639,000 (under contract) 1197 Chatfield: $1,795,000  844 Hibbard: $2,100,000 (under contract) 900 Pine Tree Lane: $2,195,000 (under contract) 717 Rosewood: $2,225,000 (under contract) 1228 Westmoor: $3,999,000 (under contract)   1 NEW PRIVATE HUBBARD WOODS LISTING IN MAY 1501 Tower: $1,249,000  3 CLOSED HUBBARD WOODS LISTINGS IN MAY 790 Rosewood List price: $1,730,000 Sold price: $1,685,000 Days on market: 14 1197 Chatfield List price: $1,795,000 Sold price: $1,805,000 Days on market: 2 1016 Westmoor List price: $2,839,000 Sold price: $2,900,000  CU...
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By Goran Utvic, Chicago 2 Flat Specialist
(Goran Utvic Real Estate Broker/Construction Consultant)
 Chicago New Construction Homes: Spotting Quality BuildsIntroAs a seasoned real estate agent and construction industry veteran, I've learned that finding a high-quality new construction home in the Chicago area requires a keen eye and a discerning approach. When you're investing hundreds of thousands, or even millions, of dollars into a property, you want to ensure you're getting a home that's a good quality build and not just an ok one.TrimThe first thing I examine when walking into a new construction property is the trim. These days, many builders opt for a clean, white aesthetic, using medium-density fiberboard (MDF) for the baseboards, door frames, and other trim elements. While MDF may be a more cost-effective choice for the builder, it's not nearly as durable as real wood. MDF is ...
Comments 2
By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
What's Happening With Real Estate Commissions - Part 1 By now most people have read about the recent lawsuit against the NAR. From the questions I get from clients and friends, it's apparent no one is quite certain what it means. And of course, much of it is misinformation. What is certain is that there is a sea change coming to real estate and it starts August 17, 2024.The gist of the lawsuit against the NAR was the "offer of compensation" listed on Multiple Listing Sheets. That phrase refers to the seller who covers the commission for both their agent and the buyer's agent. The portion of the commission that went to the buyer's agent was advertised on the Multiple Listing Service that agents use. The plaintiff's lawsuit contended that NAR and large brokerages conspired to inflate comm...
Comments 8
By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
What Sold in Your North Shore Village in March and April 2024?Inventory is lower now than earlier in the year and the median price is up in most villages. This is nirvana for sellers and continues to be an ordeal for buyers. Buyers are not, however, deterred by rising interest rates (at least around here.) Their only obstacle is to beat out the other buyers. WINNETKAClick here to see all Winnetka homes sold in March/April 2024All homes for sale:  20Current month's supply of inventory:  1.7Past 12 months median price: $1,675,000See Winnetka homes for saleSee Winnetka condos for saleSee Winnetka townhouses for sale WILMETTEClick here to see all Wilmette homes sold in March/April 2024All homes for sale:  27Current months supply of inventory:  1.1Past 12 months median price: $995,000See Wil...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
Hubbard Woods Real Estate Sales in March and April 2024Sales were hot over March and April for new listings. Hubbard Woods has several new construction homes lingering on the market but the sellers/builders have been slow with price reductions. Even in the fast market, buyers will not overpay for homes they feel are priced too high. The 12-month median sale price rose by 15% since the end of February.  10 NEW HUBBARD WOODS HOMES FOR SALE IN FEBRUARY (7 homes already under contract and 1 sold) 870 Heather: $1,185,000   1114 Merrill: $1,500,000 (under contract) 1133 Scott: $1,695,000 (under contract) 854 Boal: $1,699,000 (under contract) 780 Rosewood: $1,730,000 (under contract) 777 Rosewood: $2,199,000 (under contract) 1325 Hackberry: $2,275,000 (under contract) 901 Greenwood: $2,395,000...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
One thing is certain - numbers don't lie. Looking at these charts shows our local market as clearly as possible over the past five years. You'll notice only 4 years are listed below and that is because I felt that 2020's statistics are meaningless. For single-family homes, home prices marched up and market time dropped. The list-to-sell ratio also went up indicating that home prices sold at close to their list price. Total home sales skyrocketed in 2022 and then declined in the following two years. Condo sales look different. The total sold and the median price still match the single-family home's trajectory. But the market time and price ratio wobbled around.  Currently, inventory continues to stay stubbornly low and buyers are still frustrated with having to deal with multiple offers ...
Comments 4
By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
What Sold in Your North Shore Village in February? Homes that closed in February were unusually low across all villages. That will begin to change as the inventory increases and homes sell quickly. The spring market has started - not only by the calendar but by the warm weather.Every single village had a slight increase in the median sale price over the past 12 months. And every village had an even slighter increase in inventory. The months-supply-of-inventory has stayed virtually the same.  WINNETKAClick here to see all Winnetka homes sold in February 2024All homes for sale:  25Current month's supply of inventory:  1.7Past 12 months median price: $1,620,000See Winnetka homes for saleSee Winnetka condos for saleSee Winnetka townhouses for sale WILMETTEClick here to see all Wilmette home...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
Hubbard Woods Real Estate Sales in January 2024  2 NEW HUBBARD WOODS HOMES FOR SALE IN JANUARY 1476 Scott: $975,000 1045 Starr: $4,350,000    1 NEW PRIVATE HUBBARD WOODS LISTING IN JANUARY NO PHOTO 765 Walden: no price given but appears to be a teardown.   1 CLOSED HUBBARD WOODS LISTINGS IN JANUARY 1476 Scott List price: $975,000 Sold price: $985,000 Days on market: 6  CURRENT HUBBARD WOODS REAL ESTATE SNAPSHOTHomes for sale:2  (priced $2,700,000 and $2,875,000)Homes under contract: 1Median home price for past 12 months:  $1,435,000Condos for sale: 0  While you're here, please see all Hubbard Woods Homes for Sale  Sign up to get North Shore real estate news delivered to your inbox.It's free, we'll never sell your info, and you can opt out anytime.What's included?Local market trendsNew l...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
What Sold in Your North Shore Village in January? WINNETKAClick here to see all Winnetka homes sold in January 2024All homes for sale:  24Current month's supply of inventory:  1.7Past 12 months median price: $1,605,000See Winnetka homes for saleSee Winnetka condos for saleSee Winnetka townhouses for sale WILMETTEClick here to see all Wilmette homes sold in January 2024All homes for sale:  29Current months supply of inventory:  1.1Past 12 months median price: $995,000See Wilmette homes for saleSee Wilmette condos for saleSee Wilmette townhouses for sale KENILWORTHKenilworth homes sold in January 2024All homes for sale: 10Current month's supply of inventory:  2.0Past 12 months median price: $1,500,000See Kenilworth homes for saleGLENCOE Click here to see all Glencoe homes sold in January ...
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