All About Illinois Real Estate

By Scott Seaton Jr. Bourbonnais Kankakee IL Home Inspector, The Home Inspector With a Heart!
(SLS Home Inspections-Bradley Bourbonnais Kankakee Manteno)
Old post but really good reminder for any homeowner. I've said it before...Water always wins and it is not your friend inside your home. This sump pump discharge pipe jumped out at me the minute I saw it at my Bourbonnais Illinois Home inspection. Matted down grass. Moss growing on the wall. Large opening where the pipe exits the wall. It took every ounce of willpower to not run inside the house and look at the interior wall, joists and plywood. The house next door had an elbow directing the water down into the drain pipe away from the house. This house was a bit different. When the pump turned on, the water was moving with such force and volume that most splashed outside the drain pipe on the ground. Some was splashed back into the pipe opening into the wall cavity. And of course some...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
Winnetka North Shore Home Sales Summary for 2021Record sales and record prices were the norm for almost all North Shore villages in 2021 compared to 2020.. The only exceptions were Glencoe and Evanston which had fewer home sales in 2021. But - prices rose across the North Shore.  While 2020 is not the best year to compare to, it did make an incredible comeback as soon as the lockdown was lifted. So I'll proceed with the following numbers comparing total sales and prices of 2020 vs 2021:   Total Sales Increase/Decrease Home Price Increase Winnetka +12% +18% Wilmettte +13% +8% Kenilworth +38% +12% Glencoe -12% +23% Northfield +16% +18% Glenview +16% +11% Northbrook +18% +9% Evanston -6% +8%  How Low is Inventory in the North Shore VillagesWhile inventory is always down in January, this ye...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
2021 was a big year for condo sales in the North Shore. Many sellers downsized and moved into small condos and townhouses throughout the area. And there seemed to be many condos for sale to accommodate them. Currently, inventory is very low.  Compared to 2020, every town had an increase in the number of sales.Winnetka sales up 86% (22 sales in 2020)Wilmette sales up 23% Glencoe sales up 60%Northfield sales up 28%Evanston sales up 39%Glenview sales up 24%Northbrook sales up 28%In spite of high sales, the median sale price did not rise in every village. Northfield saw the highest jump in price with a 47% increase.  Glencoe had a huge drop at 35% lower than 2020 but it has the smallest sampling and so the data is not as accurate.Total sales for all seven villages was 1,724. 8 were studios1...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
Simply put - there's not nearly enough housing inventory to go around. Of course, this is January when inventory is always at its lowest.  Winnetka, for example, has just 28 homes for sale. Here's what I wrote in 2010 during the recession:"197 homes for sale in Winnetka, Illinois."This tight market will ease up in the following months leading up to spring as it always does. We'll just have to wait and see how many Here is what sold in your village in December:WINNETKAClick here to see all  25 Winnetka homes that sold in DecemberHomes for sale: 28   ($490,000 to $5,995,000)Private network homes for sale: 15   ($945,000 to $9,995,000)Under contract or pending: 30Median price in 2021:  $1,300,000Current supply of inventory: 1.9 monthsSee all Winnetka homes for saleSee all Winnetka condos f...
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By Evelyn Santiago, Managing Broker Heart Realty Group, Inc., Passionate About Real Estate & Our Clients!
(Heart Realty Group, Inc..)
Oswego, IL detached single family home sales in December 2021, were only 1 short to match 2020's sales of 46 - only 45 closed sales.   The YTD numbers were much better  with 659 closed in 2021 compared to 650 in the previous year.  The lowest priced home in 2021 was a 2 bedroom 1 bath with 1,029 sq. feet at $135K and the highest home was a 6 bedroom, 7.1 bath home at 6,150 sq. ft. on 3 acres for $1,500,000.  In 2020, the lowest priced home was a 3 bedroom 1 bath at 1,456 sq. ft that sold for $82,500 and the highest priced home was a 6 bedroom, 4.1 bath, 4,000 sq. ft. on 2.1227 acres for $785,000.   The numbers speak for themselves as the price appreciation this  past year surpasses 2020's by a longshot.Currently, inventory stands at a low of only 37 active listings, with 2 of those in "...
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By Evelyn Santiago, Managing Broker Heart Realty Group, Inc., Passionate About Real Estate & Our Clients!
(Heart Realty Group, Inc..)
The real estate market cooled a bit during December, 2021 for Naperville, IL closing out at 125 closed transactions compared to 153 transactions in December, 2020.   Despite this drop, YTD numbers were much better with 2,204 closed sales in 2021 compared to only 2,011 in 2020.   The super hot spring market which started much earlier than past years really brought  in the additional  193 closings.Currently inventory is at 93 active listings with only 4 of those being "New" and 1 being reactivated.  The homes under contract are at 104 with 20 transactions already in "Pending" status on the 5th day of the new year.With continued low inventory, predictions of interest rate increases by the Feds, starting a search for a home sooner than later seems to be the wiser thing to do.Sellers need to...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
HUBBARD WOODS DECEMBER 2021The year end in Hubbard Woods saw no new listings in either November or December, except for several in the private Multiple Listing Service.Of the 6 closed sales in December, closed sales show that prices have remained strong:2 sold under list price2 sold over list price2 sold at list priceInventory is very low at this point of the year. I expect that to change in the next few months as spring gets closer.NO NEW HUBBARD WOODS LISTINGS IN DECEMBER 20213 NEW PRIVATE LISTINGS  260 WoodlawnList price: 945,000 1310 ScottList price: $1,539,000 1171 WhitebridgeList price: $6,250,000  6 CLOSED HUBBARD WOODS HOME SALES  1469 ScottList price: $819,000Sold price: $747,000Days on market: 77 1408 AsburyList price: $1,195,000Sold price: $1,255,000Days son market: 9 1496 Sc...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
Whenever you think of how low inventory is, remember that there are homes available on the Private Network. This is particularly true in Winnetka and Wilmette where there are approximately 50% more homes available that are not being marketed publicly. It's less so in Glencoe, Kenilworth, and Northfield but they also have private inventory available.71 homes sold in the five villages of Winnetka, Wilmette, Kenilworth, Glencoe, and Northfield. Of those 71 homes:17 sold for over list price (the highest being 16.6% over list)49 sold for under list price (the lowest being 22% under list price)9 sold for list priceThere is always a lag in these numbers since a majority of these homes would have gone under contract in September and October. It will be interesting to see if the numbers hold up ...
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By Evelyn Santiago, Managing Broker Heart Realty Group, Inc., Passionate About Real Estate & Our Clients!
(Heart Realty Group, Inc..)
Illinois' 2nd city home sales continue to hold their own as sales in November increased 10.3% from November, 2020's 145 closed transactions to November 2021's 160 closed transactions.  As surrounding communities saw a dropped in their home sales which is pretty normal for the 4th quarter, including next door neighbor, Naperville, Aurora saw an increase.  Yea, to my home  town!Currently inventory levels are still very low with only 65 active listings.  The breakdown is:New - 12Reactivated - 5Price Change - 4Active - 44Total - 65 There are currently 153 homes under contract.  There are 18 listings in Pending status and 26 homes have already closed in December.  Will the sudden cold front put a chill on December's final numbers?  Check back in early January to find out? Or will the increas...
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By Evelyn Santiago, Managing Broker Heart Realty Group, Inc., Passionate About Real Estate & Our Clients!
(Heart Realty Group, Inc..)
In Oswego, IL for November, 2021 we finally saw a drop in closed transactions in the single family detached category from 48 sold  homes which is a 20% drop from 2020's 60 sold homes.  We had 52 closed sales in October, 2021 so not a major decrease in sales.This is pretty normal for the 4th quarter as weather, holidays, shopping and family time  take precedence with most buyers.As of today, 12/7/2021 we have 43 available listings:New - 4Price Change - 5Active - 34We have 69 under  contract and 3 pending.  So far only 8 listings have closed in December with an even split between listings sold at list or above list (50%) and less than list price (50%).  Certain homes are still selling above the asking price despite fewer buyers in the market.Check back in January to see how the final mark...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
Homes sales in Hubbard Woods are not much different since last month. Few sales, and no new listings. Our inventory (all through the North Shore) has dwindled and anxious buyers will need to wait until the spring market.This chart shows the drop in inventory from February 2020 to the present:  NEW HUBBARD WOODS LISTINGS NOVEMBER 2021No new homes were listed in Hubbard Woods in November. SOLD HUBBARD WOODS LISTING NOVEMBER 2021Six homes closed in November in Hubbard Woods. As you can see, none sold for over list price and one sold for the list price. Also unusual this year, only two sold in less than a week while the rest had lengthy sale times.  1318 Forest GlenList price: $1,349,000Sold price: $985,000Days on market: 135 1183 ScottList price: $1,495,000Sold price: $1,288,893Days on mar...
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By Evelyn Santiago, Managing Broker Heart Realty Group, Inc., Passionate About Real Estate & Our Clients!
(Heart Realty Group, Inc..)
Retirement May Be Changing What You Need in a Home The past year and a half brought about significant life changes for many of us. For some, it meant entering retirement earlier than expected. Recent data shows more people retired this year than anticipated. According to the Schwartz Center for Economic Policy Analysis, 2021 saw a retirement boom: “At least 1.7 million more older workers than expected retired due to the pandemic recession.” If you’ve recently retired, your home may not fit your new lifestyle. The good news is, you’ve likely built-up significant equity that can fuel your next move. According to the latest Homeowner Equity Insights report from CoreLogic, homeowners gained more than $50,000 in equity over the past 12 months alone. That, plus today’s sellers’ market, presen...
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By Scott Seaton Jr. Bourbonnais Kankakee IL Home Inspector, The Home Inspector With a Heart!
(SLS Home Inspections-Bradley Bourbonnais Kankakee Manteno)
Happy and safe Thanksgiving to all. Click above for our special message.Scott Seaton-The Home Inspector With A Heart  SLS Home Inspections @815-644-6271 Inspecting homes like yours in the Kankakee, Will, Iroquois counties Illinois area since 2007. Real Estate inspections with same day report delivery.  Mold and air quality testing.  FREE 90 day Homeowners Warranty. Included with every inspection. FREE Sewergard protection for the first 90 days. covers up to $4000 of sewer or water main repairs. FREE Recallchek appliance recall service. Included with every inspection. FREE Moldsafe coverage on every inspection. FREE Platinum Roof Protection Plan with 5 year leak repair coverage. FREE $100,000 One Year NXT Structural warranty 18 month warranty available with every inspection Visit my webs...
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By Ken Tracy, Helping clients buy and sell since 2005
(Coldwell Banker Residential)
Good morning!!I woke this morning with love for my son….My son, who we named Auggie, will be seven months old at the end of this month…He is soft and warm, with chubby cheeks. He is full of curiosity and joy…A gift to me and those around him…His smile lights up the room. He is the best snuggler, and will bury his head into my chest as I hold him as I walk, or rock him gently back and forth to sleep…He, as most babies do, looks at the world differently than the rest of us do….He is innocent. Optimistic. Hopeful. And so lovingly simple…He has joy for the littlest things. A new box with which to sit in. A kiss on the cheek. A caress of his back…Again, my son is a baby like many others…But he is also different…You see, my son Auggie, was born special…Born under chaotic circumstances that we...
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By Evelyn Santiago, Managing Broker Heart Realty Group, Inc., Passionate About Real Estate & Our Clients!
(Heart Realty Group, Inc..)
Despite the 17.7% drop in closed sales in October, 2021 to 153 from October, 2020's 186, there is good news for home sellers in Aurora, IL.  The Days on Market (DOM) dropped a whopping 50% from October's 2020 46 days to only 23 days for  single family homes.  Sellers will like  the 6.8% increase  in the median sale price from$257,500 in October 2020 to $275,000 in October 2021.Meanwhile with only 70 active  listings currently broken down in the following categories:New - 17Reactivated - 2Price Change - 4Active - 47Already in November we have 189 homes under contract and 17 pending. With 89 homes that have closed in the 1st 15  days of November,  I would not be surprised if an additional 100 homes sell in the next 15 days as the 45 day closings come in.  In October 2021 there were 95 out...
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By Evelyn Santiago, Managing Broker Heart Realty Group, Inc., Passionate About Real Estate & Our Clients!
(Heart Realty Group, Inc..)
Despite the 34% drop in home sales in October, from 2020's 215 closed sales to only 142 closed  sales there is a silver lining - days on market went down 44.6% from 74 days to only 41 days in October, 2021.  Along with a 13.4% increase  in the median sale price from  $467,500 to a new high of $530K - sellers in Naperville, IL can't really complain about the 2021 selling season.As  fall is has about a month left before winter  sets in Naperville, IL has 62 closed transactions this month with 25 in pending status and another 177 under contract.With a total of only 166 active listings in the following categories:New - 8 (7 days or less)Reactivated - 2Price Change - 10Fully Active - 146There is plenty of time to beat Octobers' numbers in November.  Hopefully, the weather will remain mild al...
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By Evelyn Santiago, Managing Broker Heart Realty Group, Inc., Passionate About Real Estate & Our Clients!
(Heart Realty Group, Inc..)
Home sales in Oswego, IL continue into fall with only a 5.5% decline from last  year's sales.  The speed of how fast homes are selling though increased 47.2% from last year's 36 days on the market to only 19 days in October, 2021.The median price increased 27.5% from 2020's $293,000 to $373, 460!!  Happy sellers have been able to get large premiums on their home sales with 69% of homes that sold in October sold for list or more!  Traditionally sales slow down in fall but not this year.Buyer's need a lot of patience and a plan on how to make an offer that will win when in a multi-offer situation.  You can't see homes at the top of your approval limit in today's market unless you have extra cash to make up the difference between the appraised price and the offer price.  With the lack  of ...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
After three decades, Don Juan's Restaurant in Chicago closed at the end of 2020. A great institution and local treasure was gone. Sort of.Don Juan's Cantina and Taqueria opened in July just a mile away - and will continue their tradition of great food, drinks, and service! Same owners (with a new investor) Maria and her son Jacob are back in full swing.With a smaller and refined menu, the emphasis is on fresh traditional and contemporary Mexican food. There is a large assortment of craft tacos made with organic masa plus old favorites like Hogan's oysters, Camarones Don Juan, 6-Chili Pollo, and Carne Asada Tampiquena.    They refer to their margaritas as "legendary" and I have to agree. I take mine with Mezcal, which imparts a smoky flavor that perfectly balances with the traditional ta...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
What Sold In Your North Shore Village in October, 2021Yes, the market has started cooling - which it always does this time of year. The "cooling" mainly pertains to the frenzied bidding that drove prices up with multiple offers.Fewer homes are now selling over the list price which has been common for the year to date. As before, inventory continues to be low, with just a few months of inventory in each village.Since January 1, four-bedroom homes in Winnetka sold for 98% of list price while 5+ bedroom homes averaged 96%.Wilmette homes of all sizes sold for 98% of list price.Kenilworth homes sold for 95-96% of list price.Glencoe homes sold for 97% of list price except 5+ bedroom homes which averaged a sale of 95% of list price.Northfield homes sold for between 94-9% of list price.If selli...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
If you've been listening or reading the news you know that the real estate market  has cooled down. This is normal at this time of year. The one difference is that that Hubbard Woods still has very low inventory.You can see below that there are only 9 homes for sale right now and 10 under contract. Compare that to:November 2018 - 41 homes for sale with 13 under contract November 2019 - 34 homes for sale with 14 under contract.Most pundits believe the market will again be tight and competitive in 2022, but not reaching the heights of 2021. If selling your home is getting close, consider 2022 as it seems impossible that these numbers will continue for too much longer. Particularly with talk of rising mortgage rates. CLOSED HUBBARD WOODS HOMES IN OCTOBER 1507 Tower RoadList price: $950,000...
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