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Real Estate Update from Allyson Hoffman

North Shore and Barrington Area Housing Sales Increase

 


 

 

Correctly Priced Houses Selling Quickly

Northbrook, IL – May 22, 2017 – The beginning of the second quarter of 2017 shows a continued increase in sales for the North Shore-Barrington housing market.  Housing data for April shows that although the number of new listings fell, median sales prices rose compared to the same period in 2016. The largest increase was in closed sales, according to the North Shore-Barrington Association of REALTORS® (NSBAR).   

NSBAR’S latest data shows new listings decreased 8.7 percent to 1,519, down from 1,663 a year ago. The number of closed sales increased 7.3 percent to 695 for April 2017 compared to 648 in April 2016. The number of homes under contract (contingent and pending) is up 6.1 percent with 886 homes going under contract in April compared to 835 for the same period last year.

“The second quarter is off to a good start in the North Shore and Barrington areas,” said Carrie Healy, president of NSBAR. “Houses that show well are selling quickly, if they are priced correctly. That’s where having a knowledgeable REALTOR® is important.”

The median sales price rose 4.9 percent in April, up to $450,000, compared to $429,000 during the same period in April 2016, and the average listing price increased 4.5 percent with the percentage of the original list price remaining flat at 93.9 percent compared to 93.9 in April 2016.

The inventory of homes in the North Shore and Barrington area decreased by 7.4 percent in April, compared to a year ago, going from 4,087 to 3,783.  The months’ supply of homes for sale fell from 6.5 months in April 2016 to 5.8 months last month.

Across the area region, year-to-date 2017 housing market highlights include:

- Year-to-date, 1,393 detached single-family homes sold in the North Shore-Barrington market.  The number of communities in the region reporting an increase in the number of home sales for April was triple those reporting a decrease, compared to April 2016.  The median sales price was equally split in the number of increases and decreases. Communities reporting an increase (or no change) in the number of sales compared to April 2016 include Barrington, Deerfield, Glencoe, Golf-Glenview, Highland Park, Highwood, Kenilworth, Lincolnshire, Lincolnwood, Mettawa, Morton Grove, Northbrook, Northfield, Prairie View, and Winnetka.    

-  Barrington area – 179 detached single-family homes sold year-to-date, up 17.0 percent compared to 153 detached single-family homes sold in April 2016.  The median sale price in April 2017 was $500,000, remaining flat compared to $500,000 a year ago.

-  Deerfield – 93 detached single-family homes sold year-to-date, up 43.1 percent compared to 65 detached single-family homes sold in April 2016.  The median sales price in April 2017 was $580,000, up 5.5 percent compared to $550,000 a year ago.  

-  Evanston – 111 detached single-family homes sold year-to-date, down 2.6 percent compared to 114 detached single-family homes sold in April 2016.  The median sale price in April 2017 was $470,000, down 2.3 percent compared to $481,250 a year ago.

-  Golf-Glenview – 158 detached single-family homes sold year-to-date, up 28.5 percent compared to 123 detached single-family homes sold in April 2016.  The median sale price in April 2017 was $518,500, up 8.0 percent compared to $480,000 a year ago.

-  Lake Forest – 55 detached single-family homes sold year-to-date, down 5.2 percent compared to 58 detached single-family homes sold in April 2016.  The median sale price in April 2017 was $849,000, up 11.0 percent compared to $765,000 a year ago.

-  Northbrook – 119 detached single-family homes sold year-to-date, up 16.7 percent compared to 102 detached single-family homes sold in April 2016.  The median sale price in April 2017 was $540,000, up 0.3 percent compared to $538,500 a year ago.

-  Skokie – 121 detached single-family homes sold year-to-date, down 9.0 percent compared to 133 detached single-family homes sold in April 2016.  The median sale price in April 2017 was $319,500, down 1.1 percent compared to $323,000 a year ago.

-  Winnetka – 78 detached single-family homes sold year-to-date, up 41.8 percent compared to 55 detached single-family homes sold in April 2016.  The median sale price in April 2017 was $1,087,500, up 3.6 percent compared to $1,050,000 a year ago.

Sales and price information is generated by NSBAR with Midwest Real Estate Data (MRED).

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The North Shore-Barrington Association of REALTORS® (NSBAR) represents more than 3,600 practitioners in residential and commercial real estate. Since 1919 it has been the area’s leading advocate for private property rights and a healthy real estate environment. Visit NSBAR online at www.NSBAR.org.

Based on Census Tract data, MRED defines the North Shore as including Bannockburn, Deerfield, Evanston, Glencoe, Glenview, Golf, Highland Park, Highwood, Kenilworth, Lake Bluff, Lake Forest, Lincolnshire, Lincolnwood, Mettawa, Morton Grove, Northbrook, Northfield, Prairie View, Riverwoods, Skokie, Wilmette and Winnetka.

 

Please note that the numbers noted in the aforementioned links to Lake and Cook County Market Reports apply to all properties of all types and sizes throughout Cook and Lake Counties and that numbers may change when looking at a specific town, neighborhood, property type or even the type of sale.  Should you desire an overview designed for your home or area or even a home in an area you are considering, this information is available.  If I can assist you with information to help you to determine if now is the time for you to consider buying a new home or selling your current residence in Chicago’s North Shore, North or Northwest suburban areas, please let me know and I would be delighted to arrange a time to review your situation and recommend a plan tailored to your personal circumstances.

 
    

Additionally, if you are considering buying or selling or, alternately, if you are just interested in the property value of your home or a home that interests you, please feel free to send an email request to me at allyson@allyson.com and I will gladly arrange to meet with you and/or set up a personalized webpage with data generated for your home, any home that interests you or for a personalized new home search profile that matches your unique criteria.

Adjusting to a New Neighborhood?

Moving can be difficult, especially if you’re relocating to a new city or state where you’re in a strange place surrounded by people you don’t know. You may feel lonely, even if you have a spouse and children. Moreover, if you’ve moved by yourself, you may feel isolated. So here are some suggestions to help you adjust to your new place and become part of your community.

1. Find Local Events

Identify upcoming events of interest in your community and plan to attend. Summer is a particularly great time to fill your schedule with festivals or arts and craft shows. You’ll enjoy opportunities to meet some local people, both as vendors or others attendees.

2. Sign Up for a Class

One of the best ways to meet people in your area includes taking a class where you’ll inevitably meet new people who have something in common with you. Conversations about topics of common interest are easy to start in this type of setting.

3. Take a Walk

Try to plan for an evening or morning walk around your neighborhood. Evening jaunts may be better to encounter more people out in their own yards or also on walks. Regardless, this should suit your schedule. Be sure to greet neighbors with a friendly “hello” and if they seem responsive, you can even stop and ask them a question like which coffee shop they recommend.

4. Visit Your Neighbors

While it’s customary in some areas for the neighbors to visit the newcomers, there is no need to wait for an invitation. Feel free to introduce yourself. Your neighbors may be busy or simply not wanting to bother you, so make the first move. It provides you the opportunity to get to know those adjacent to you, so that you’ll feel somewhat safer and/or less isolated.

5. Host a Party

Plan a get-together after you are settled in.  It doesn’t have to fancy. This is an especially attractive idea for those with children, so they can meet others youngsters of similar age. Just a few appetizers, snacks and/or refreshments should be adequate to invite people over to get better acquainted.

While it can seem awkward to make the first move, you’ll be less lonely and more connected if you take the initiative to get to know others in your neighborhood.  For additional information regarding the purchase of a new home, please contact me today for a consultation. I will be happy to answer any questions you may have about Chicago's North ShoreNorth or Northwest Suburbs, and/or help you find your dream home.

Image courtesy luxstorm/pixabay.com

How to Update Your Kitchen for $500

By watching HGTV or perusing home design magazines, you’ll quickly conclude that a kitchen remodel can cost thousands of dollars. However, you can select changes to add a new look to your kitchen for as little $500 or less. Here are some ideas to get you started.

Update the Lighting

Bringing in new light fixtures is a subtle way to update your kitchen while making a big impact. New lighting can cost less than $250 and make the room appear more modern. Of course, it’s even less expensive if you can do the installation yourself. Hiring an electrician could add around $150 to the lighting update budget.

Update the Flooring

Flooring choices for the kitchen are wide ranging and some are quite inexpensive. Even vinyl has significantly progressed from its early days with attractive designs now available for under $500. If you can do the installation yourself, this is a distinctly low-cost enhancement to update your kitchen.

Replace Upper Cabinets with Glass

If you have solid cabinets that just look a bit worn, try replacing the upper doors with glass inserts. This simple modification can immediately create a more open, modern atmosphere and add dimension to the room. For only $400 to $500, this weekend project could provide substantial impact.  Also, try adding new cabinet hardware for another inexpensive and easy improvement.

Paint

Paint remains one of the cheapest updates to add in any home. For the kitchen, painting the walls and dated cabinets can typically be completed for well under $500. To make small rooms feel bigger, try painting the cabinets white or alternately, a darker hue will often provide a cozier atmosphere to a large kitchen.

Update Countertops

Old countertops make a kitchen look outdated and even boring. Consider updating by selecting a granite-look countertop without the high price of granite. For small, to medium-sized kitchens, you can expect to pay around $500 for this new look. By visiting outlets or oversupply stores, you may find even deeper discounts. This project can truly make a big difference.

While a brand new kitchen will certainly cost much more than $500, you can achieve an improved look, different feel and current design preferences with only a few updates that won’t break the bank. For additional ideas about preparing your home for sale or the selling process, feel free to contact me today for a consultation. I will be happy to answer any questions you may have, and/or help you determine the value of your home.

Image courtesy Bill Wilson/flickr.com

 

 

The Northern Suburbs of Chicago Blog discusses new items of interest regularly. Topics range from those related to real estate and community highlights to local events of interest or anything personal or business related that might be perceived as worthwhile information for public knowledge, discussion and/or use. Feel free to subscribe and receive textual updates on your iPhone, iPod and/or iPad! You can always check out the latest updates for the Northern Chicago Suburbs at:

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Allyson Hoffman
RE/MAX Villager
1245 Waukegan Road
Glenview IL 60025
847-310-5300
Fax: 847-400-0881

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Allyson Hoffman
RE/MAX Villager
1245 Waukegan Road
Glenview, IL, 60025

(847) 310-5300
Allyson@Allyson.com

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