Winnetka, IL Real Estate News

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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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
There were 7 homes that closed in Hubbard Woods in September. Three of them sold for over the list price, and four sold for below list price. All sold relatively quickly except for one that took many years. There were just two new listings both of which would be considered luxury homes with high prices.   SOLD HOMES IN HUBBARD WOODS September 2021   1381 Asbury List price: $549,000Sold price: $600,000 (9.2% over list)Days on market: 9 960 Old Green BayList price: $1,225,000Sold price: $1,187,500 (3% below list)Days on market: 74 1140 Chatfield List price: $1,599,000Sold price: $1,405,000 (12% below list)Days on market: 139 795 LocustList price: $1,345,000Sold price: $1,459,000 (8.5% over list)Days on market: 4 135 N. SheridanList price: $1,549,000Sold price: $1,500,000 (4% below list)Da...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
You'll see that activity slowed way down in August - particularly with only one new home being listed. The good news is that there are four homes in the Private MLS which will eventually hit the market (unless they sell before that.)Two of the three closed homes sold for over the list price - we still don't have enough inventory to fulfill buyers' needs. I think many buyers have decided to wait until next year in the hope that they'll be a wider variety of homes come to the market.  3 CLOSED HUBBARD WOODS LISTINGS AUGUST 2021  1509 EdgewoodList price: $1,195,000Sold price: $1,165,000Days on market: 205 1468 ScottList price: $1,249,000Sold price: $1,326,000Days on market: 7 660 RosewoodList price: $4,100,000Sold price: $4,155,520Days on market: 78   1 NEW HUBBARD WOODS LISTINGS AUGUST 20...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
If you haven't heard yet, live music is returning to the North Shore!  Winnetka's Music Festival is back this year and being billed as "Emerge Winnetka." Emerging, as in the hope that life returns to some normalcy with and after Covid.The original two years of 2018 and 2019 (skipped in 2020) were held over two days in various spots throughout downtown Winnetka (as shown in featured photo, above.)  This year, the fest will be just one day and located at the Skokie Playfields in Winnetka (part of the Winnetka Park District.)The music fest will be held from 2pm to 11pm.This year's line-up includes  This year's venue offers approximately five acres of space - plenty for safe social distancing. There will be a food court with food trucks offering an array of foods plus wine and beer.Please n...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
Fifteen homes closed this July compared to 19 in June. As you'll see below, 3 of the 6 new listings are already under contract, and 6 of the 15 closed listings went over the list price. So it's still a very good seller's market but the frenzy from the earlier part of the year has definitely dissipated. 6 NEW HUBBARD WOODS HOMES LISTED in JULY  1381 Asbury: $549,000 (under contract) 1507 Tower: $899,900 795 Locust: $1,345,000 (under contract) 700 Locust: $2,095,000 (under contract) 1304 Trapp:  $3,250,000     952 Pine Tree:  $4,195,000                2 NEW PRIVATE LISTINGS in HUBBARD WOODS  135 N. Sheridan: $1,549,000 720 Ardsley: $6,999,999    15 SOLD HUBBARD WOODS HOMES in JULY   1257 ScottList price: $799,000Sold price: 775,000Days on market: 8 1317 ScottList price: $850,000Sold price...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
An incredible 19 houses closed in June. To explain the imbalance of homes, only 1 new home was listed in Hubbard Woods during the whole month (and it had been previously listed in 2016.)Of particular note, 1159 Chatfield just closed for $1,765,000 (see below.) It was previously listed in 2016 for 527 days with the last list price being $1,549,000! Aren't they glad they couldn't sell then. SOLD HUBBARD WOODS LISTINGS IN JUNE 2020 972 Tower List price: 525,000Sold price: $530,000Days on market: 17 1290 ScottList price: $525,000Sold price: $500,000Days on market: 41 1367 EdgewoodList price: $689,000Sold price: $689,000Days on market: 4 1124 GageList price: $819,000Sold price: $795,000Days on marke: 85 1117 MerrillList price: $699,999Sold price: $850,000Days on market: 4 1443 EdgewoodList p...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
HUBBARD WOODS MAY 2021 With only 9 homes for sale and 27 under contract, Hubbard Woods is being squeezed for inventory. You can see below the quick sales times on almost all the closed sales in May. I've been asked how long this market will last. The pundits say that nationally, at least another year. I would agree that it would probably be the same here. Although it's only June, I'm seeing fewer homes come on the market. Buyers, however, are still searching and jumping on homes right as they're listed. Particularly in the under $1 million range, but higher-end homes as well. Too many buyers have been frustrated in the search and are still out there hoping they'll score a new home. So, yes, it's still an excellent time to sell your home. Just remember that if you need to buy something e...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
10 Ways to Keep Mosquitos Away  I’ve been looking into ideas that will help get rid of those bloodthirsty pests this summer. We’re fortunate to live in an area that offers an active response to mosquitoes through North Shore Mosquito Abatement District which serves 11 North Shore villages. Their work goes a long way in ridding the population before they ever hatch and come out to torment us. Humans despise these little fiends and I know we’ve all tried various remedies to avoid getting the dreaded bite. Certain people are more likely to attract them - we all know people who claim they are mosquito magnets! Not only is the bite painful, but mosquitoes also carry diseases.So here are a few ideas I came across that I will definitely try out this summer:  DAB ON SOME ESSENTIAL OILSThis one ...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
 HUBBARD WOODS April 2021 One sign of a hot market: regardless of price range, all seven homes listed in Hubbard Woods in April are under contract. Plus ten homes sold although you’ll see some long market times for some of them. This is because they were listed pre-Covid at inflated prices. 7 NEW HUBBARD WOODS LISTINGS IN April 2021 1257 Scott  $799,000 (under contract)    1443 Edgewood   $949,000 (under contract)  1152 Scott  $949,000 (under contract)     1190 Oakley  $1,299,000 (under contract)    840 Lamson   $1,550,000  (under contract)    877 Tower  - $3,499,000 (new construction home under contract)  910 Private - $6,300,000 (under contract) New PRIVATE LISTING in April 2021 1507 Tower - $950,000     1275 Asbury - $1,018,000     669 Walden - $1,595,000    660 Rosewood - $4,100,000...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
The spring market continues to see huge sales despite a lack of inventory. Homes are selling off the Private Network before they ever hit the market. Otherwise, the stats are the same as the past several months: seller’s market and we need more homes to sell! Here’s what closed in the North Shore in April 2021.WINNETKA   Current Winnetka Real Estate Market:Sold homes in March: 31Homes for sale: 45Price range: $525,000 to $6,300,000 Under contract/pending: 78Current months supply of inventory: 3.4Winnetka Homes for SaleWILMETTECurrent Wilmette Real Estate Market:Sold homes in March: 54Homes for sale: 48 Price range: $314,000 to $2,200,000Under contract/pending: 82Current months supply of inventory: 3.2Wilmette Homes for SaleKENILWORTHCurrent Kenilworth Real Estate Market: Sold homes in M...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
 WHAT YOU NEED TO KNOW ABOUT EARNEST MONEYYou’ve just bought a new house - congratulations! So many things to think about, one of them being your earnest money. What is Earnest Money? Basically, your earnest money is delivered on or around the time you submit a contract to purchase your new home. It’s the way you say that you are serious about this house. Without a financial commitment, how does the seller know that you’re really interested in their home and not five others? How Much Earnest Money Do You Need to Put Down? This question will vary from state to state and even region to region. When I first started in the business in 1998, the earnest money was 10% of the contract price. With the huge increase in prices we saw running up to the recession, the number now hovers at around 3-...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
HUBBARD WOODS March 2021The Hubbard Woods area is down to inventory that would only last 1.9 months if no new inventory came on the market. That’s called an extreme seller’s market. If you have any thoughts of selling - why wait? However, if you sell, you’ll become a buyer . . .  7 NEW HUBBARD WOODS LISTINGS in March 20211117 Merrill - $699,999 (under contract)     1299 Hackberry - $1,399,000      1140 Oakley - $1,649,900     986 Asbury Ct. - $1,699,900     1159 Chatfield - $1,799,000    1347 Scott - $1,949,000    1040 Hubbard - $2,599,000          New PRIVATE LISTING1340 Asbury - $1,939,000   4 CLOSED HUBBARD WOODS HOME SALES IN December 2020  979 VineList price: $479,000Sold price: $341,000 (short sale)Days on market: 986      1152 AsburyList price: $849,000Sold price: $901,000% of li...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
What Sold in Your Village in March 2021?See the number of under-contract homes in the data below - it is much higher than available inventory. All North Shore villages are experiencing low inventory and a seller’s market. Wilmette, Winnetka, and Glencoe have the tightest markets. The spring market has been exploding but we need more inventory!Here’s what closed in the North Shore in March 2021.WINNETKA  Current Winnetka Real Estate Market:Sold homes in March: 23 Homes for sale: 45Price range: $560,000 to $6,250,000 Under contract/pending: 61Current months supply of inventory: 3.6Winnetka Homes for SaleWILMETTE  Current Wilmette Real Estate Market:Sold homes in March: 40Homes for sale: 45 Price range: $389,000 to $2,350,000Under contract/pending: 78Current months supply of inventory: 3.5...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
Real estate watcher and market predictor Keeping Current Matters has published some valuable graphs that will allay some fears that consumers have. Fears that the super hot Chicago North Shore market will create another bubble - like the pre-recession period leading up to 2007-8.Covid is one factor which stimulated the rush to buy, but there were key characteristics of that period that are simply not present this time.   MORTGAGESMortgages were extremely easy to get back then and lenders were willing to take on high levels of risk. Not so now where qualifying for a loan is much harder.   HOUSING PRICES  Homes in Chicago's North Shore communities of Winnetka, Wilmette, Kenilworth, Glencoe, and Northfield are selling very quickly. But the pace of inflation is much lower. This graph shows ...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
In the olden days (maybe just a few years ago) homes for sale in the Chicago North Shore suburbs were plentiful and took a long time to sell. "Long time"meaning it was a buyer's market with homes generally taking longer than six months to sell. We are now experiencing a seller's market with the median sell time around three months. But most homes are selling more quickly.In a corona virus world where everything has gone tipsy-turvy the real estate market rebounded spectacularly. Currently (March 2021) inventory is low throughout Winnetka, Wilmette, Kenilworth, Glencoe, and Northfield. Homes are selling within days of hitting the market, and in some cases, well before they become available on the Multiple Listing Service. Hot homes see frequent multiple offers.The real estate market expl...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
What Sold in Your Village in February 2021? Big storms and extreme chills kept buyers home - but just for a while. Now that March is here and we’re feeling the warmth, they are out pursuing their dreams of buying a home in the North Shore. Look at the current months-of-inventory shown below for each village. Winnetka, Wilmette, and Glencoe are under 4 months showing a strong seller’s market. Northfield is a seller’s market, and Kenilworth is not as strong but the number is more than half of what it was a few years ago.Here’s what closed in the North Shore in February 2021.WINNETKA  Current Winnetka Real Estate Market:Sold homes in February: 13 Homes for sale: 55Price range: $575,000 to $6,399,000 Median price ytd: $975,000Under contract/pending: 52Current months supply of inventory: 3.9...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
HUBBARD WOODS News February 2021 Inventory has been low - until February with the addition of 12 new homes for sale in Hubbard Woods. Good news: four are already under contract. And strangely, for those of us with devious minds, five of the homes are on Asbury. 12 (!) NEW HUBBARD WOODS LISTINGS IN February 2021  250 Woodlawn - $575,000          1124 Gage - $849,000         1371 Asbury - $849,000          1152 Asbury- $849,000 (under contract)        1255 Asbury - $949,000         1256 Asbury - $949,000 (under contract)        1409 Asbury - $989,000         1570 Tower - $1,150,000 (under contract)         792 Walden - $1,399,000        1015 Starr - $1,650,000 (purchased in September 2020 for $1,350,000 with the intension of tearing it down. The house is of some historic significance and ...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
The Hubbard Woods real estate market got off to a good start this January. Lots of activity (not just here but the entire North Shore housing market.) Buyers are coming out earlier despite cold and snow and the current low inventory is spurring quick sales and higher prices. 3 NEW LISTINGS HUBBARD WOODS January 2021 1270 Forest Glen - $1,299,000         877 Boal Pkwy - $1,599,999        1035 Starr - $3,299,900 (closed in June 2019 for $3,040,000)         COMING SOON LISTINGS (In private section of MLS) 1371 Asbury - $849,000          1256 Asbury - $949,000         985 Vine - $1,250,000           1380 Scott - $1,839,000         7 SOLD HOMES JANUARY 2021 1555 TowerList price: $874,000Sold price: $762,500Days on market: 296      1270 ScottList price: $899,000Sold price: $811,000Days on mar...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
 I've written several posts about the Covid-19 effect on North Shore housing in regarding to single family residences. But what about condo market sales in 2020 vs. 2019?Condo sales were not explosive in the same way that single family homes started selling in June of 2020 (after the lockdown was lifted.) In 2021 the North Shore Villages of Winnetka, Wilmette, Glencoe, Northfield, Glenview, and Evanston had a total of 1,020 condo sales. of that 1,020 - slightly more than half were in Evanston (533) Evanston had the lowest price condo sell for $63,000 Evanston had the highest price condo sell for $1,675,000  Here is a breakdown for each village's stats in 2020:  Glenview and Evanston have the lion's share of sales but those villages are larger, have more diverse zoning rules, and are des...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
2020 North Shore Housing Review We all know what made 2020 a wonky year - so I won’t belabor that point. The result, however, was a roller coaster ride for the North Shore housing market.  The year started out as most do - cold and slow. Just when the spring market started to awaken, along came a virus that put it back to bed. And so it went until the end of May when the economy was partially reopened and the floodgates opened. From a serious oversupply of homes we now have too few homes for sale. From sagging prices we have seen prices rise and it’s not uncommon now to have multiple offers on some properties. So it went until the holiday season and now we’re back in a Covid Tier 3 situation. The lack of inventory will continue as some buyers and sellers are not comfortable with the hom...
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