Winnetka, IL Real Estate News

By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
I have been reading many reports of low housing inventory in certain parts of the country.  California comes to mind - a strong seller's market with multiple offers on every property. From DW News: "Low inventory has been cited by many analysts as a concern for the housing market in 2016 as the market continues to heal from the foreclosure crisis which began nearly eight years ago."From Housing Wire:“A lack of housing inventory continues to drive developments in the market. As demand has slowly recovered, low inventory levels have weighed on home sales and put upwards pressure on house price,” the report said."But as we all know, housing is local.  Everything about housing - pricing, sales, trends, market time is local.  Here, Winnetka, Wilmette, Kenilworth, Glencoe, and Northfield are ...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
Five new homes were listed in Hubbard Woods in January - getting a jump on the Spring market.  Other than one bad weekend, the weather has been more agreeable and I'm seeing considerably more homes coming on this market this time of year than last year.New Listings: 875 Burr - at the corner of Burr and Tower Roads.  With 5 bedrooms and 3 1/2 baths, this house has lots of great features including an updated kitchen, and a new 2-car garage.$875,000     1422 Asbury - listed on January 25 and already under contract!  A really nice red brick Georgian with 4 bedrooms and 3 1/2 baths.  $1,095,000     669 Walden - beautiful renovated home with grand space.  It has 4 bedrooms and 4 baths, plus a library and sitting room.  The lot is approximatley 15,000 sq. ft.  The only downside is that it back...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
Wilmette IL had another strong year for home sales in 2015.  The average price rose almost 3% in 2015 and the total number of units sold in each year was almost identical (see below.)Single Family Homes The ratio looks very good too - I use the original list price (before price reductions) and compare to the final sold price.  So 4-5% off the original list is very strong and means that Wilmette home sellers are pricing their homes appropriately for the market.Market time is also excellent - anything under 6 months indicates a seller's market which we've been in for almost two years.See Wilmette homes for sale:Under $500,000$500,000 to $1 million$1 million + Now let's look at the condo market:Condos/TownhousesAgain, condo sales were down slightly and the average price rose 2%.  The list-...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
I have written several articles about recycling in Winnetka and the North Shore, including:Recycling Your Plastic in Winnetka and the North ShoreNews on Winnetka Recycling - Cardboard CartonsWhat's the Skinny on Plastic Recycling in Winnetka and the North Shore In checking the Winnetka website, I came across yet more information on recycling.  For instance,  metal cans are also accepted (I thought it was just soda cans) aluminum foil and pie plates!   envelopes - window style are okay too any refrigerated or non-refrigerated gable top cartons such as milk, soup, juice packs, wine   Don't forget:  most caps on bottles, even though plastic, are not accepted.  Please remove the caps before tossing into the recycling bin.  If there is no recycling symbol on the bottom of the item, it's not ...
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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 16, down -5.9% from 17 in December of 2014 and 33.3% higher than the 12 sales last month. December 2015 sales were at a mid level compared to December of 2014 and 2013. December YTD sales of 238 are running -0.4% behind last year's year-to-date sales of 239. The Median Sales Price in December was $1,190,000, up 60.8% from $740,000 in December of 2014 and up 71.2% from $695,000 last month. The Average Sales Price in December was $1,479,125, up 33.3% from $1,109,506 in December of 2014 and up 86.9% from $791,481 last month. December 2015 ASP was at a mid range compared to December of 2014 and 2013. The Total Inventory of Properties available for sale as of December was 123, down -16.9% from 148 last month and up 11.8% from 110 ...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
Winnetka and North Shore villages like Wilmette, Kenilworth, Northfield, and Glencoe are primarily comprised of single family homes.  Tucked into the edges of town or along busy streets are many condo complexes that offer seniors a way to downsize or young families a way to buy into the village less expensively.  In 2015 there were 161 condo sales in the villages listed above - compared to 808 single-family homes.  So the condo market here represents around 17% of all sales in the North Shore.  I'm sure it would be higher if we had more condos to offer - there is a serious lack of condo/townhouse living because of our fairly substantial number of residents wishing to downsize.Broken down by village, condo sales looked like this in 2015:Winnetka  27Northfield  40Wilmette 83Glencoe  11Ken...
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By Jack Lewitz
(Exit Strategy Realty)
Here is a little trivia for Christmas.                                                                    671 Lincoln Ave Winnetka, IL This 1921 Brick Georgian has 12 Rooms, 4 Bedrooms, and 3.2 baths. It is known as the "Home Alone House"  and the last sale was in 2012 for $1,585,000.I bet this house has a lot of visitors this weekend.
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By Art Wilson, Realtor - Chicago's North Shore
(Coldwell Banker Residential Brokerage)
By Art Wilson, RealtorWinnetka's November Property sales were 12, up 20.0% from 10 in November of 2014 and -7.7% lower than the 13 sales last month. November 2015 sales were at a mid level compared to November of 2014 and 2013. November YTD sales of 222 are running equal to last year's year-to-date sales of 222. The Median Sales Price in November was $695,000, down -21.2% from $882,500 in November of 2014 and down -9.2% from $765,000 last month. The Average Sales Price in November was $791,481, down -27.6% from $1,092,505 in November of 2014 and down -15.1% from $932,423 last month. November 2015 ASP was at the lowest level compared to November of 2014 and 2013. The Total Inventory of Properties available for sale as of November was 147, down -17.4% from 178 last month and up 18.5% from...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
Winding down - end of year type numbers.  While home sales happen every day, some home sellers are removing their homes from the market for the holidays.  I don't think that makes sense -  the seller may miss the perfect home buyer because their house was unlisted.Here's the real estate update for Hubbard Woods in November 2015 NEW LISTINGS850 Lamson - $2,495,000A 3-bedroom, 4.2 bath home just shy of 1/2 acre.  Updated with 2 large bedrooms on the first floor.  Nice sized lot but it backs up to Tower Road.     960 Private Road - $4,275,000A high-end new construction home with 5 bedrooms and 6.2 baths on a 17,000 sq. ft. lot.  Built by Heritage (Leo Birov)      NEWLY UNDER CONTRACT1235 Scott - $1,335,000        127 Old Green Bay - $2,399,000       SOLD HOMES1520 TowerListed $799,000Sold ...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
UPDATED 2019  When you buy a home you assume that certain responsibilities will be taken care of by your village government.  Some of those things might include street and curb repair, snow plowing, or other maintenance chores.What you might not be aware of is that Winnetka has a whopping 24 private roads and 4 partial ones.  If your real estate agent is not aware of this, you will be in for a surprise.  There are costs involved in maintaining private lanes and homeowners must get together, plan, and implement the work involved.  Sharing snow plowing costs is generally manageable but repaving or completely laying down a new street with curbs could be costly.  Sewers might also have to be replaced if not properly cleaned of tree roots and other impediments.  Street lighting must be addre...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
UPDATED 2019 Winnetka IL Social Services  I am often impressed to discover some of the services that Winnetka offers its residents.  Whether a program through the Township office (that would benefit the entire township) or the programs offered through other local organizations, they are so varied and amazing.  Some are free and others charge a small feeA short list: The New Trier Township offers the services of a medical ethicist who is available daily between the hours of 10am to 2pm.  Peggy McDonnell is available to assist residents in resolving problems dealing with health care issues.  To make an appointment with her, please call 847-609-3934 The North Shore Senior Center charges for its services only what you can pay them. Just a few examples are: escorted transportation services, ...
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By Art Wilson, Realtor - Chicago's North Shore
(Coldwell Banker Residential Brokerage)
By Art Wilson, RealtorWinnetka's October Property sales were 13, down -18.8% from 16 in October of 2014 and -23.5% lower than the 17 sales last month. October 2015 sales were at their lowest level compared to October of 2014 and 2013. October YTD sales of 210 are running -0.9% behind last year's year-to-date sales of 212. The Median Sales Price in October was $765,000, down -30.7% from $1,104,000 in October of 2014 and down -22.7% from $990,000 last month. The Average Sales Price in October was $932,423, down -27.4% from $1,284,465 in October of 2014 and down -16.0% from $1,109,559 last month. October 2015 ASP was at the lowest level compared to October of 2014 and 2013. The Total Inventory of Properties available for sale as of October was 176, down -1.7% from 179 last month and up 21....
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
UPDATED 2019 6 TURNOFFS THAT SELLERS SHOULD AVOID After a property showing, home sellers love to receive feedback.  They (or their agent) appreciate the comments that help them make tweaks to their homes.  Feedback could include price, condition, location, smells, or any myriad of things that irk buyers.  Here in Winnetka and the North Shore, homes are decorated and show beautifully . . . but still.Here is a infographic that shows the six worst offenses according to buyers:  70% of respondants were turned off by dampness and the underlying worry about mold.  Finding where the water is coming from can be tricky and buyers don't want to be bothered with that.  If you are aware of any dampness on walls or ceilings, find the problem and fix it before you list your home.56% of buyers noticed...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
Homes are still coming on the market - and going under contract.  Don't ever let anyone tell you that this time of year is slow.  Okay, it's slower, but every day things are humming and moving in the real estate world.There were 3 new listings in Hubbard Woods in October:900 Burr Listed for $560,000.  Basically being sold for land value with a 7500 sq. ft lot.  Located between Tower and Gage.     1305 AsburyListed for $950,000Stately home built in 1963 with 4 bedrooms (although one is very small.)  Nicely updated and great curb appeal.    1228 WestmoorListed for $4,200,000This is the house we've all been driving by on our way down Westmoor to get to Hibbard.  All new construction by Leigh Gignilliat on slightly more than 1/2 acre.  But someone please get this man a good photographer.   ...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
Again, we like to see what the absorption rate is because it tells us the number of months it would take to sell the currently listed homes on the market.  As a real estate agent, I want to keep track of this number because it helps me to better price your home.  When the number of months decreases, the market is heating up and your price will too.  However, the opposite is also true.Here is the current absorption rate for Winnetka, Wilmette, Kenilworth, Northfield, and Glencoe based on the previous 4 months worth of sales.   ABSORPTION RATE Wilmette - 4.2 months (seller's market)Kenilworth - 9 months  (buyer's market)Winnetka -   8 months (buyer's market)Northfield - 5.6 months  (balanced market)Glencoe - 7.5 months (leaning toward a buyer's market) This indicates a mixed bag of result...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
I am including the North Shore villages of Kenilworth, Winnetka, Wilmette, Glencoe, and Northfield in this post.  Interestinly, only two of the homes are newer (built in 2001 and 2008) and one was built in 1896!  Three are in Winnetka, one is in Kenilworth, and one is in Wilmette.  $7,495,000 on Sheridan Road in Winnetka.  Built in 2005 with breathtaking views of the lake with a 94 foot beach.  5 bedrooms and 6 1/2 bathrooms, plus office, sitting room, enclosed heated porch, exercise room, office, pool, and 2nd floor deck.   $7,750,000 on Sheridan Road in Winnetka.  This amazing estate has 10 bedrooms, 11 full baths and 3 powder rooms.  There is also an office, library, 2nd kitchen, and pool.      $8,950,000 on Essex Road in Kenilworth.  Built in 1896 and designed by historic architect ...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
Last year's Hubbard Woods Art Show was a great success - partly because the weather cooperated by offering up a warm and dry day.  This year might be a bit chilly but that won't dampen the fun of wandering through all the unique stores and studios in Hubbard Woods to discover new local artists.The event is sponsored by the North Shore Art League.  The concept is for 20 different stores to host an artist and to have their artwork there for display and for sale.  Each store offers refreshments including wine, cheese, crackers, sweets, etc.  The event is walkable since it's along Green Bay Road from Tower Road north to Scott Ave.  The event takes place on Friday, October 16 from 5-9pm.  There will be an after-show party open to the public at Get Dwell (1046 Gage St.)  from 8-10pm.  Here's ...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
UPDATED 2019 I check the Multiple Listing Service (MLS) several times a day for real estate updates in Winnetka, Wilmette, Kenilworth, Glencoe, Northfield, and Glenview.  Every time I do, there are several homes that are being listed or have gone under contract. Today is October 9 and Halloween is looming but real estate chugs along.  Why should you list your house now?Maybe beause you have to - you've been relocated or you have decided another Chicago winter is not in your future. People must and do move almost every day of the year.  The good news is that fewer new homes are being listed right now - everyone else is waiting for the magical "Spring" market. True, there are more buyers looking in spring, but there is also more competiton to your home.  Listing your home off-season may m...
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