Winnetka, IL Real Estate News

By Art Wilson, Realtor - Chicago's North Shore
(Coldwell Banker Residential Brokerage)
By Art Wilson, RealtorWinnetka's February Property sales were 12, equal to 12 in February of 2016 and -40.0% lower than the 20 sales last month. February 2017 sales were at a mid level compared to February of 2016 and 2015. February YTD sales of 32 are running 10.3% ahead of last year's year-to-date sales of 29. The Median Sales Price in February was $867,500, down -13.9% from $1,007,000 in February of 2016 and down -25.6% from $1,166,000 last month. The Average Sales Price in February was $836,875, down -12.8% from $960,154 in February of 2016 and down -47.1% from $1,582,950 last month. February 2017 ASP was at the lowest level compared to February of 2016 and 2015. The Total Inventory of Properties available for sale as of February was 155, up 12.3% from 138 last month and down -7.2% ...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
UPDATED 2019 In Winnetka and the surrounding North Shore villages, the housing industry generaly kicks into gear after the Super Bowl - there's no good reason for this except nobody wants to go outside in January. Real estate agents often say that biggest selling time is spring, which is actually the beginning of February through April/May.So if you will be putting your house up for sale in the spring, consider not making these costly mistakes: Pricing Your House Too High - This is the single most important reason why your home won't sell - in any market!  This is where a knowledgeable and experienced realtor can help you with comparable homes for sale and sold properties.  We have had a housing oversupply for many months and the competition is stiff. Not Staging and Making Repairs - un...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
UPDATED 2019 Getting a great education in Hubbard Woods, Winnetka IL is the goal of all parents with school age children.  My observation with buyers, particularly out-of-town buyers, is that any house they purchase must be located in an excellent school district. In the North Shore communities of  Winnetka, Wilmette, Kenilworth, and Glencoe all elementary, middle and junior high schools feed into New Trier High School, one of the top high schools in Illinois.  All the feeder schools are rigorous in maintaining standards that are conducive to success at New Trier High School.SEE ALL HUBBARD WOODS SCHOOL DISTRICT HOMES FOR SALE Hubbard Woods has two schools that serve elementary grades - the public school Hubbard Woods School, (which is kindergarten through fourth grade) and the private ...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
 The luxury market (in this case over $4,000,000) took a hit in 2015 in the combined North Shore villages of Winnetka, Wilmette, Kenilworth, Glencoe, and Northfield.There were only 4 homes that sold in that price range in all of 2016.  There were 10 sales in 2015 (see chart below for sales going back to 2007) with 2007 being the bumber-crop year just before the recession with 16 luxury sales.There is ample inventory of 22 homes priced from $4,000,000 up to $13,750,000.  Property taxes for these homes range from $42,000 to $208,000 per year - which is becoming more of a factor in decision making both in buying and selling.The absorption rate for these luxury homes is 66 months - or 5.5 years.  The absorption rate is the rate at which these homes sell if no new homes come on the market.  ...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
Homes that close in January generally sold back in November and December of the previous year.  So it's a good month to see how the end-of-year activity looked.  Here are the median home sales in January for Winnetka, Wilmette, Kenilworth, Northfield, Glencoe, and Glenview.The bars show January sales for 2015, 2016, and 2017. WILMETTE WINNETKA KENILWORTHThe MLS is not displaying the median price for January sales in 2015 because there were no closed sales that month. NORTHFIELD  GLENCOE GLENVIEW  To CONTACT Margaret Goss, please call 847-977-6024 or email:  margaret.goss@bairdwarner.comMargaret Goss is a full-time real estate agent since 1998 servicing the North Shore communities of Winnetka, Wilmette, Kenilworth, Glencoe, Northfield, Glenview, and Evanston.  See full BIO for Margaret G...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
The Winnetka School District Board 36 decided recently that all incoming kindergarten students that live within Crow Island' schools's district have been assigned either Hubbard Woods or Greeley.  This decision was made after much discussion regarding the overcrowding at Crow Island school.In the map below, if you currently reside in the blue area, your children will attend kindergarten at Hubbard Woods school.  If you reside in the yellow area, your children will attend Greeley.        For a link to a complete overview of the Winnetka's kindergarten plan, please see:2017-2018 Kindergarten Overview, Winnetka ILTo read the background of this decision, please see:  Solutions Sought for Winnetka Schools' Enrollment Imbalance.   
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
UPDATED 2019 Of course location affects home value! We all know that. But I'm wondering how much in terms of actual dollars and cents. When you buy a home in a compromised location (i.e. busy street, across from commercial buildings) you know you bought at a discount. There are homes in Winnetka, Wilmette, Kenilworth, and other North Shore villages that sell for much less than a few homes down the street. For the buyer wanting to get into a desirable area at a discount, this is one way to accomplish it.While you are living in your home there are many updates you can make over the years. Physically moving your home is not one of them (except in rare cases such as the Schmidt Burnham house.) This means that your location is a constant and will cost you less to get in and net you less when...
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By Art Wilson, Realtor - Chicago's North Shore
(Coldwell Banker Residential Brokerage)
By Art Wilson, RealtorWinnetka's January Property sales were 20, up 17.6% from 17 in January of 2016 and 17.6% higher than the 17 sales last month. January 2017 sales were at their highest level compared to January of 2016 and 2015. January YTD sales of 20 are running 17.6% ahead of last year's year-to-date sales of 17. The Median Sales Price in January was $1,166,000, up 28.1% from $910,000 in January of 2016 and down -13.9% from $1,353,750 last month. The Average Sales Price in January was $1,582,950, up 20.9% from $1,309,663 in January of 2016 and up 2.6% from $1,542,897 last month. January 2017 ASP was at highest level compared to January of 2016 and 2015.The Total Inventory of Properties available for sale as of January was 137, up 16.1% from 118 last month and down -1.4% from 139 ...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
Consistently ranking high in numbers polls, my company's website, bairdwarner.com has received its eighth consistent international recognition.  With its easy-to-use interface and graphics, it's a standout in the busy realm of real estate brokerages. Our official announcement: We are proud to announce that Baird & Warner has again received the Website Quality Certification (WQC) award from Leading Real Estate Companies of the World® (LeadingRE). This is the eighth consecutive year BairdWarner.com has been recognized for excellence in design and functionality. BairdWarner.com and other WQC award recipients were assessed based on their ability to demonstrate quality, innovation and creativity in their website design. Our user-friendly functionality for such key elements as property search...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
Hubbard Woods is a charming section of Winnetka that is located on the north side of of the village. It was named after Gilbert Hubbard who lived and developed the area in the 1870s in the years after the great Chicago fire.Hubbard Woods has one of the three main shopping areas located in Winnetka along with East Elm and West Elm. The stores here straddle both sides of Green Bay Road as it traverses through town. There are design and antique stores as well as ladies clothing, nail salons, hair blowout, barbers, tailors, several eateries,a pizzeria, and a thrift store. Plus - the North Shore's only McDonald's.Homes for sale in Hubbard Woods range from the 600,000s up to many millions. There is wide diversity in the housing inventory as well as many new construction homes to choose from. ...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
A new year and lots of new listings in Hubbard Woods.  There were a total of 22 "new" listings here but only 10 of those were really new to the market as opposed to having been taken off during the holidays and relisted. New Hubbard Woods Homes for Sale 1195 Asbury  $719,000Corner lot with 4 bedrooms and 2 baths      770 Rosewood  $825,0004 bedrooms and 2 1/2 baths plus finished 3rd floor      960 Old Green Bay $849,0004 bedroom and 3 bath ranch home tucked behind another home on Old Green Bay.  Good space but needs updating.      1423 Edgewood $1,099,000Very cute and newly renovated 4 bedroom plus 4 1/2 bath home - under contract after 9 days.     900 Burr  $1,299,999As yet unbuilt new construction proposed for this site across from Sacred Heart church.  Good price for new construction...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
It's January 2017 and the warm weather has provided Winnetka and other North Shore communities the opportunity to get an early start on the spring home selling market.  More homes are coming on every week - so many I can't get to see them all on broker tour days.What does the Winnetka real estate market look like today.  Homes for sale: 119Low price:  $440,000High price:  $13,750,000Median price:  $1,330,000Under contract and pending homes:  32 Current absorption rate:  5.8 months (note:  this number indicates an excellent balance of sellers and buyers in the market. However, our current inventory is low because many homes were taken off the market during the holidays.  As those homes get listed again, this number will increase.) Okay, now let's look at homes sales in Winnetka for 2016:...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
1050 Tower Road in Winnetka will be open on Sunday, January 22 from 12-2 pm. 1050 Tower Road, Winnetka One of Winnetka's best real estate values.  Located closed to downtown Hubbard Woods, the train, schools, and the lake.Four bedroomsThree bathsUpdated kitchenLarge family room with sliding doors Separate dining roomMud roomMany updates including newer windows, electric, water line, furnace, exterior stucco, waterproofing, and water heater.Price:  $549,000Taxes:  $11, 959 OPEN HOUSESunday January 22, 201712-2pm 
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
UPDATED 2019 Remodeling Before SellingIt seems like an incongruity to remodel your home before you put it on the market to sell.  Most sellers understand the need to freshen up a home, maybe hire a handyman to tighten things up.  But what about actually taking on some remodeling projects in anticipation of 1) selling faster, and 2) increasing home value.  Home improvement projects are not created equal and will not always (or ever) give you the return on investment that you are anticipating. Why You Should Consider RemodelingIn the Winnetka and North Shore area of Chicago, many buyers are moving here from downtown.  They do not like remodeling projects.  Let me repeat:  they do not like remodeling projects.  Almost two decades ago when I started in real estate, buyers were looking for t...
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By Art Wilson, Realtor - Chicago's North Shore
(Coldwell Banker Residential Brokerage)
By Art Wilson, RealtorWinnetka's December Property sales were 17, up 6.3% from 16 in December of 2015 and -5.6% lower than the 18 sales last month. December 2016 sales were at a mid level compared to December of 2015 and 2014. December YTD sales of 269 are running 13.0% ahead of last year's year-to-date sales of 238. The Median Sales Price in December was $1,353,750, up 13.8% from $1,190,000 in December of 2015 and up 67.6% from $807,500 last month. The Average Sales Price in December was $1,542,897, up 4.3% from $1,479,125 in December of 2015 and up 53.5% from $1,004,917 last month. December 2016 ASP was at highest level compared to December of 2015 and 2014. The Total Inventory of Properties available for sale as of December was 114, down -30.5% from 164 last month and down -8.8% from...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
Luxury homes are defined by their local marketplace.  Depending on the town, $2,000,000 to  $2,500,000 would be considered the starting price for a luxury home in the Chicago North Shore villages of Winnetka, Wilmette, Kenilworth, Glencoe, and Northfield.The sales of luxury homes in 2016 looked like this:   The average market time for these homes to sell in 2016 was 262 days - however 4-bedroom homes priced above $2,500,000 took 338 days.  The average list to sell price ratio (based on original price) was 89%.I've also shown the current inventory of luxury homes plus the absorption rate of those homes. Remember, the absorportion rate is defined as the amount of time it would take for all the inventory to sell without any new homes coming on the market.  And for some of our villages, it ...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
The last month of 2016 was predictably quiet in the Hubbard Woods area.  There was just one new listing - although it's one we've been watching go up for a while: NEW LISTING 865 Gordon Terrace - $3,495,000New construction by George Adamzcek It will have 5 bedrooms and 6 1/2 baths plus a basement theater but this price will have to come down.      CLOSED SALES  1138 ScottOriginal list price:  $1,195,000Sold price:  $785,000Days on market:  598     840 LocustOriginal list price:  $820,000Sold price:  $800,000Days on market:  20     1457 AsburyOriginal list price:  $837,500Sold price:  $837,500Days on market:  4    1414 AsburyOriginal list price:  $1,995,000Sold price:  $1,750,000Days on market:  233    690 ArdsleyOriginal list price:  $2,799,000Sold price:  $2,125,000Days on market:  150...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
Winnetka  One important issue to be decided in 2017 (both short and long term) is the Winnetka School’s enrollment imbalance.  Crow Island school been experiencing overcrowding while Hubbard Woods and Greeley schools have empty classrooms.  Several solutions are being considered Dealing with excess stormwater and flooding continues to be a priority for Winnetka.  The costly Willow Road tunnel plan was abandoned and alternative solutions are being sought. Dwyer Park in downtown Winnetka (adjacent to the post office) will be renovated in 2017.  The work will include new light poles, movable gazebo, the addition of a concrete patio with permanent picnic tables, removal of some trees, expansion of the butterfly garden, updating playground equipment, construction of a portable bean bag toss,...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
Here are the final sales of the year - December 2017 - for Winnetka, Wilmette, Kenilworth, Northfield, and Glencoe.  WINNETKA   WILMETTE  KENILWORTH  NORTHFIELD    GLENCOE
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
It's always revealing to prepare a year-end market report and see if my hunches throughout the year were correct.  The North Shore communities of Winnetka, Wilmette, Kenilworth, Northfield, and Glencoe are still firmly in a buyer's market because of high inventory and long market times.I cannot do an absorption rate analysis today because so many homes have been removed from the market for the holidays.  The last report I did on this was in May of 2016 and all villages except Wilmette were solidly in a buyer's market mode.   Here is a comparison of homes sales in 2015 vs 2016:  Winnetka, Wilmette, and Kenilworth all had a higher number of home sales but prices dropped slightly. In Northfield and Glencoe, homes sales were down in 2016 but prices rose.  The most notable change would be fo...
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