Winnetka, IL Real Estate News

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...
Comments 1
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 ...
Comments 2
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 ...
Comments 0
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...
Comments 4
By Art Wilson, Realtor - Chicago's North Shore
(Coldwell Banker Residential Brokerage)
By Art Wilson, RealtorWinnetka's September Property sales were 17, equal to 17 in September of 2014 and -32.0% lower than the 25 sales last month. September 2015 sales were at their lowest level compared to September of 2014 and 2013. September YTD sales of 196 are running equal to last year's year-to-date sales of 196. The Median Sales Price in September was $990,000, down -10.4% from $1,105,000 in September of 2014 and down -19.5% from $1,230,000 last month. The Average Sales Price in September was $1,109,559, down -19.4% from $1,376,265 in September of 2014 and down -30.9% from $1,606,701 last month. September 2015 ASP was at the lowest level compared to September of 2014 and 2013. The Total Inventory of Properties available for sale as of September was 172, up 6.8% from 161 last mon...
Comments 1
By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
There were just five closes in September but that is to be expected - it's past the opening of school and most home closed earlier.  However, every day at this time year, homes are being listed and sold - just not at the previous pace.Here's what sold in Hubbard Woods in September:987 Asbury Courtlisted:  $825,000sold:  $800,000days on market:  77   1490 Asburylisted:  $859,000sold:  $815,000days on market:  13    840 Heather Lanelisted:  $1,675,000sold:  $837,500days on market: since May 2012   1344 Edgewoodlisted:  $1,225,000sold:  $1,050,000days on market:  186   1311 Sunviewlisted:  $1,425,000sold:  $1,140,000days on market:  48     New Listings - 8 new homes were listed on the market in September in Hubbard Woods.   925 Forest Glen -  $1,299,000A 5-bedroom, 3 1/2 bath home on the e...
Comments 1
By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
 The 3rd quarter typically shows lots of closings because of earlier activity in the summer and spring. Thereal estate market statistics for this period in Winnetka looks like this:  Currently, the market has:Homes for sale:  158Low price:  $282,000High price:  $12,999,999Homes under contract (with contingencies):  20Homes pending (contingencies cleared):  6Condos/Townhomes for sale:  11Winnetka has a wide spread between low and high prices, offering a broad range of options for buyers. We have much new construction to choose from (individual homes, not subdivisions) plus renovated older homes, homes needing updating, lots for sale, and move-in-ready homes.  There is also a smaller selection of condos and townhouses for sale in Winnetka.Clearly, we have a need for more condos but there ...
Comments 0
By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
From Realtor.com, this article shows  which states prefer dogs vs. cats as pets.  And when you view the graphic, you'll see that there's no doubt that the southern half of the country is partial to dogs while the northern half prefers cats.  Then there are all those states that can't make up their minds! Some interesting tidbits from the article: Massachusetts has the largest cat population and Arkansas is the biggest dog state. Cats outrank dogs 74 million to 70 million . . . but there are actually more dog households because cat lovers tend to have several. Would you believe that Americans spent $30 billion on our pets last year? It turns out that Illinois is partial to both animals - we're in a tie with no clear favorite.  But as owner of two dogs I can say that Winnetka and the Nort...
Comments 2
By Art Wilson, Realtor - Chicago's North Shore
(Coldwell Banker Residential Brokerage)
By Art Wilson, RealtorWinnetka's August Property sales were 25, down -43.2% from 44 in August of 2014 and -13.8% lower than the 29 sales last month. August 2015 sales were at their lowest level compared to August of 2014 and 2013. August YTD sales of 179 are running equal to last year's year-to-date sales of 179.The Median Sales Price in August was $1,230,000, up 2.5% from $1,200,000 in August of 2014 and up 15.1% from $1,069,000 last month. The Average Sales Price in August was $1,606,701, up 17.2% from $1,370,381 in August of 2014 and up 29.9% from $1,237,034 last month. August 2015 ASP was at highest level compared to August of 2014 and 2013.The Total Inventory of Properties available for sale as of August was 161, down -9.6% from 178 last month and up 11.0% from 145 in August of las...
Comments 1
By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
UPDATED 2019 WINNETKA IL COMMUNITY PAGE  Winnetka is a quintessential Midwest town located just 30 minutes north of Chicago along Lake Michigan. It is characterized by large trees, sidewalks, a house stock consisting of both older and new construction homes and many parks and beaches.One of the major draws of Winnetka is its proximity to downtown Chicago either by Metra Rail or expressway.  There are three train stops in town making it an easy and affordable way to commute. The trains run often and are remarkably on time.  Check the Winnetka Train Schedule here.Most of the village was built  before 1930 and was designed so that its residents could walk to school, shops  the train, and parks.  Winnetka is noted for attractive residential neighborhoods, citizen involvement, and educationa...
Comments 0
By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
Condos and townhouses are a premium in the North Shore suburbs of Winnetka, Wilmette, Kenilworth, and Glencoe.  Only Wilmette has a good number of condos for sale.  Many seniors who are looking to downsize and sell their family homes are moving farther west to Glenview where the Glen and other nearby subdivisions offer lots of choices.While Wilmette has a good inventory of condos for sale, many of these are located on the lake along Sheridan Road.  These buildings at Plaze del Lago offer beautiful views of the lake and are convenient to shopping across the street, but in general, have high assessments.No new condo developments are currently being planned - just two large rental buildings in Winnetka and Wilmette.  Condos and townhouses can only be built where strictly zoned for such typ...
Comments 3
By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
August is slow time in real estate - kids are finished with camp and summer school so families head off to vacation.  And when they return, it's back-to-school time.  There are a good number of closings, but those are properties that sold earlier in the summer.  Let's see what happened in Hubbard Woods in August.New Listings 996 Chatfield - wait, not this house again!  Oh yeah, I sold it in June and the new owner has cleaned it up and done some work.  Listed for $475,000 (and for rent for $2600/month)    826 Locust - I can pretty much assure you that this house will be town down.  It's on a double lot that the agent says the Village of Winnetka has already cleared for two lots.  Someone might also built one large home instead.  Listed for $1,520,000.    Closed Homes1060 Tower Original l...
Comments 0
By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
Here are the closed  home sales for August 2015 for Winnetka Kenilworth, Wilmette, Northfield, Glencoe   WINNETKA WILMETTE KENILWORTH GLENCOE NORTHFIELD
Comments 0
By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
August is fairly quiet in real estate time for new listings - but there are a lot of closes before the start of school.  Two things jumped out at me regarding the statistics below.  One point is that days-on-market for listings is considerably lower than it used to be - with the exception of Kenilworth.  Northfield has had real estate difficulties but I attest that to the Willow Road project which is now COMPLETE!The other thing I see is that the list price to sell price ratio is at 93% for Winnetka (pretty decent) and 84% in Kenilworth (not so good.)  I saw lots of overpriced homes in the spring and in the summer the hens came home to roost with the resulting low list price to sell price ratio.August Closed Sales Report  Current Market Statistics Report Under contract = contingencies s...
Comments 3
By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
UPDATED 2021 Here's a fun thing to do during our hot summers - rent a kayak or canoe and drift along the Skokie Lagoons in Winnetka.  I figured if I started here, then I could progress to the lake someday and eventually to the ocean (dream on, sister!)Chicago River Canoe and Kayak (which also offers rides on the Chicago River in the city) has these craft available for rentals throughout the summer. They have both single person and two-person boats available plus life jackets. Friendly young employees are around to help you with basic tips and guidance on where to paddle.  Most people head out for 1-2 hours - canoes and single kayaks are $20/hour and tandem kayaks are $25/hour, both are one-hour minimums.  I've heard you can see mink, cormorants and turtles.This company as well as others...
Comments 1
By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
UPDATED 2019 I was out showing properties to a couple who were considering new construction vs. rehabbing an older home.  We looked at two homes located at either end of the same block.  One is new construction and one was built in the early 1900s. They asked me "What is the value of new construction in Winnetka?"Because of the disparity in price of those two homes, I thought it was a great question. Granted, one was a luxury new home and one wasn't, but the price differential was more than I would have thought. So I did some exploring.The new construction home sold for almost $2.2 million.The older home has been on the market for a long time and is listed just under $1.3 million.  By the time the older home sells, it will probably cost someone $1 million less than the new construction ...
Comments 2
By Art Wilson, Realtor - Chicago's North Shore
(Coldwell Banker Residential Brokerage)
By Art Wilson, Realtor Winnetka's July Property sales were 28, down -6.7% from 30 in July of 2014 and -28.2% lower than the 39 sales last month. July 2015 sales were at their lowest level compared to July of 2014 and 2013. July YTD sales of 153 are running 13.3% ahead of last year's year-to-date sales of 135. The Median Sales Price in July was $1,084,500, down -11.2% from $1,221,500 in July of 2014 and down -13.5% from $1,253,500 last month. The Average Sales Price in July was $1,249,786, down -4.2% from $1,304,992 in July of 2014 and down -11.7% from $1,416,038 last month. July 2015 ASP was at a mid range compared to July of 2014 and 2013. The Total Inventory of Properties available for sale as of July was 173, down -10.8% from 194 last month and up 8.8% from 159 in July of last year. ...
Comments 0
By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
It's the middle of summer and things are a little quiet.  Just one new listing in Hubbard Woods in July:1490 Asbury - a very nice updated home with 4 bedrooms and 3 1/2 baths.  It is under contract already!List price:  $859,000Sold price:  ?  There were 8 closed sales in the Hubbard Woods school district in July:1327 Hackberry - short of 1/2 acre, this home took about 4 months to sell which is not bad for a home located in the flood plain.List price:  $875,000Sold price:  770,000   1556 Tower - this is 4-bedroom, 2 1/2 bath home on 1/2 acre List price:  $1,235,000Sold price:  $1,069,000   811 Tower Road - located across the stree from Tower Road beach at the corner of Tower and Sheridan.  An older home with about .64 of an acre.List price:  $1,350,000Sold price:  $1,100,000     1308 For...
Comments 2
By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
There is a lot of discussion about plastic bags right now - the city of Chicago joins other cities in banning those thin ones that we use to bag our produce.  The Chicago Tribune published a good article on this on Friday, July 31:  "Plastic bags a headache for recyclers."While I use canvas bags to bring home my groceries, I appreciate those thin ones - I'm a dog owner.  But what else are they good for after the produce is gone.  Not much because the vast majority are tossed into the recycling bin.  Where they don't belong.As the above article states, "there's a gap in the education . . . Clean plastic bags should be returned to retailers like Wal-Mart that collect them for proper, bag-specific recycling."   Most area stores like Jewel, Mariano's, Trader Joe's, and Whole Foods provide b...
Comments 0