Winnetka, IL Real Estate News

By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
Hubbard Woods Winnetka IL Home SalesThere were no homes that closed in February but 6 new listings did come on the market. Which is much-needed inventory! CLOSED HUBBARD WOODS HOMES in FebruaryNo homes closed. 6 NEW HUBBARD WOODS LISTED FOR SALE in February 1469 Scott - $825,000 824 Bell - $1,199,000 1294 Scott - $1,239,000 1243 Scott - $1,239,000 (under contract) 1230 Westmoor - $2,995,000 824 Boal Pkwy. - $3,500,000  While you're here, please see all Hubbard Woods Homes for Sale Sign up to get North Shore real estate news delivered to your inbox.It's free, we'll never sell your info, and you can opt out anytime.What's included?Local market trendsNew listingsLatest transactions Enter your email address at North Shore Real Estate NewsletterSee Margaret's biography
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
What Sold in Your North Shore Village in February 2023? WINNETKAClick here to see all Winnetka homes sold in February 2023Homes for sale:  19Private network homes for sale:  12Current month's supply of inventory:  1.4See Winnetka homes for saleSee Winnetka condos for saleSee Winnetka townhouses for sale WILMETTEClick here to see all Wilmette homes sold in February 2023Homes for sale:  17Private network homes for sale:  8Current months supply of inventory:  1.2See Wilmette homes for saleSee Wilmette condos for saleSee Wilmette townhouses for sale KENILWORTHClick here to see all Kenilworth homes sold in February 2023Homes for sale:  12Private network homes for sale: 4Current month's supply of inventory:  1.9See Kenilworth homes for saleGLENCOEClick here to see all Glencoe homes sold in Fe...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
An Art World Mystery That Started in Hubbard Woods in Winnetka I live in Hubbard Woods,  the northern part of Winnetka, IL. Tony, the neighbor who lived behind me, used to walk his dog around the block and always stop at our house. We had a border collie that loved to sit in the front yard (with an electronic fence) and he would always stop to pet my dog. That's how I got to know him.One day while we were talking, he told me an intriguing story. Admittedly, I didn't totally think it could possibly be true. But here it is. He said that he had come across an incredible oil painting in an English antique store. It depicted Mary holding the infant Jesus in her lap as her cousin and John the Baptist looked on. The shopkeeper told Tony that the artwork could be from the Renaissance. I knew To...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
Hubbard Woods Winnetka Home Report January 2023There were two new homes listed in Hubbard Woods in January and one is under contract. The home at 250 Woodlawn is most likely land value. New Hubbard Woods Listings in January 250 Woodlawn - $550,000  924 Forest Glen - $975,000 (under contract)   Closed Hubbard Woods Listings in January> 1290 Scott List price: $1,999,998Sold price: $2,050,000Days on market: 22   921 Fisher Ln.List price: $2,999,999Sold price: $2,700,000Days on market: 279  Current Hubbard Woods Real Estate MarketHomes for sale: 3Contingent/pending homes: 7Private market homes for sale: 3Condos for sale: 1 in the private market, 4 under contract. While you're here, please see All Hubbard Woods Homes for Sale  Sign up to get North Shore real estate news delivered to your inb...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
The Final Walkthrough - 5 Things Buyers Hate to Find Your closing day is almost here and the buyers have scheduled their final walkthrough. You've emptied the house, made repairs, and cleaned up. What could go wrong?As a seller, you may be unnerved by this. Buyers are allowed to visit the house before closing and make sure the house is as it's supposed to be. It's mostly a benign visit with the buyers excited to head to the close. What are the walkthrough hiccups that can occur?ITEMS THAT BOTH SIDES THOUGHT THEY HAD A RIGHT TOThe second refrigerator in the garage or basement, the stunning chandelier in the dining room - gone! It happens all the time - believe me. Unless you made sure the contract specified the second refrigerator, the seller can take it. This applies to shrubs and trees...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
Compelling Real Estate Facts Nationally and in the North Shore There are more than the usual number of articles about the U.S. housing market right now. After two tumultuous years of a seat-of-your-pants ride, everyone has a say on where the market has been and where it's going in 2023.I find this reading engrossing but don't accept my word, have a look:  From the Federal Housing Finance Agency, an interactive chart that shows the top 100 U.S. metro areas and how they ranked in 2022. Eight of the first 10 are in Florida which is not surprising. What is surprising is that many areas that we were told are dying on the vine made the list The National Association of Realtors (NAR) released its list of "10 Housing Markets Expected to Lead the Nation in 2023." Interestingly, Florida does not ...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
There's nothing like a simple chart to show off some amazing statistics. Going from right to left, it's easy to see the remarkable changes in the real estate market since 2019. The numbers on this chart encompass all the data for Winnetka, Wilmette, Glencoe, Kenilworth, and Northfield combined:The upward trajectory of North Shore home prices has been relentless for the past three years. There are changes happening now that will affect these numbers but I believe they will not be daunting. By this, I mean that home prices will remain fairly steady or drop slightly as long as inventory continues to stay low. Many pundits are suggesting a recession or housing downturn will occur in 2023. The Federal Reserve chair Jerome Powell has said, "we're passing through a difficult housing correction...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
Hubbard Woods Winnetka Real Estate in December 2022 SOLD HUBBARD WOODS HOMES IN DECEMBER 1304 Asbury List price: $1,299,999Sold price: $940,000 (sold for land)Days on market: 155 1139 OakleyList price: $1,265,000Sold price: $1,175,000Days on market: 12 1485 ScottList price: $1,199,000Sold price: 1,189,000Days on market: 77 932 EuclidList price: $1,699,000Sold price: $1,825,000Days on market: 1 1189 AsburyList price: $2,125,000Sold price: $2,100,000Days on market: 17  NO NEW HUBBARD WOODS HOMES LISTED IN DECEMBER CURRENT HUBBARDS WOODS MARKETHomes for sale: 6Price range: $1,049,000 to $4,795,000Under contract/pending: 3Condos for sale: 0Year-to-Date median price: $1,620,000Months of inventory: 1.4 months Click to see all Hubbard Woods Homes for Sale  Sign up to get North Shore real estat...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
2022 Year-End Winnetka North Shore Luxury Home Report This year, I'm using $5,000,000 + as the market for luxury homes in the North Shore. I previously used $2,500,000+ but prices have risen too much to include so many homes!Luxury sales also benefitted from the super hot market of the past two years. In 2016, I wrote: "The average market time for these homes to sell in 2016 was 262 days." Incredibly, in 2022, the average market time was 80 days. The range of times went from 5 days to 384 days. If it weren't for the outlier of 384 days, the average days would have been just 47 days. Eight of the homes shown below sold for a discount, one sold for full price, and one home sold for slightly over the list price. Seven homes were located in Winnetka, two in Glencoe, and in Wilmette.  North ...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
Hubbard Woods Winnetka IL Real EstateNovember 2022There were 3 closed sales and one new listing in November. Of the 3 sold homes, one sold well below the list price, while the other 2 went over the list price. The one new went under contract very quickly. As long as inventory is this low, mortgage rates won't have too much of a damper for certain buyers. There were no new listings entered in the Private Network in November.  SOLD WINNETKA PROPERTIES IN NOVEMBER  260 WoodlawnList price: $1,100,000Sold price: $860,000Days on market: 126(This home sold previously in June 2022 for $945,000 after 7 days on the market) 1225 Pine List price: $1,795,000 Sold price: $1,800,000 Days on market: $1,800,000 110 N. SheridanList price: $1,995,000Sold price: $2,108,000Days on market: 5  NEW HUBBARD WOO...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
Hubbard Woods Winnetka Real Estate in October 2022Most of the data below mirrors that of exactly one year ago - October 2021. The big change in home buying is the rising mortgage interest rate which, to date, has not impacted Winnetka and Hubbard Woods sales. The trade-off is the low inventory. Rising rates vs. low inventory and while the market is slightly cooling, clearly, low inventory is keeping prices high.   New Hubbard Woods Listings in October 888 Forest Glen - $1,049,000 1139 Oakley - $1,265,000 (under contract) 1225 Pine - $1,795,000 (under contract) 110 N. Sheridan - $1,995,000 (under contract)   Closed Hubbard Woods Listings in October 1044 Tower RoadList price: $650,000Sold price: $628,000Days on market: 6 1153 AsburyList price: $660,000Sold price: $760,000Days on market: 2...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
Hubbard Woods Winnetka Real Estate September 2022It was a quiet September in Hubbard Woods which reflects lower sales in late summer. Just two closing in September and one new listing that is already under contract. There are just 7 homes for sale right now in Hubbard Woods. Three of those are proposed new construction, and one is a teardown home. The remaining 3 have been on the market for a good amount of time. Essentially, there are no homes for buyers in the under $1 million range. NEW HUBBARD WOODS LISTINGS  1044 Tower Rd. (under contract)$650,000  NEW HUBBARD WOODS PRIVATE LISTING 1139 Oakley - $1,265,000  CLOSED HUBBARD WOODS HOMES 1381 AsburyList price: $1,495,000Sold price: $1,330,000Days on market: 42 1134 TaylorsportList price: $6,900,000Sold price: $6,280,000Days on market: ...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
 What Sold in Your Winnetka North Shore Village Not much has changed since last month's report. Total sales, homes for sale, median price, and month's supply of inventory have stayed stable.  WINNETKAClick here to see all Winnetka homes sold in September 2022Homes for sale:  26Private network homes for sale:  7Median price year-to-date:  $1,575,000Current month's supply of inventory:  1.3See Winnetka homes for saleSee Winnetka condos for saleSee Winnetka townhouses for sale WILMETTEClick here to see all Wilmette homes sold in September 2022Homes for sale:  41Private network homes for sale:  11Median price year-to-date:  $903,000Current months supply of inventory:  1.4See Wilmette homes for saleSee Wilmette condos for saleSee Wilmette townhouses for sale KENILWORTHClick here to see all K...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
What is the Private Listing Network in Winnetka & the North Shore TWO THINGS HAPPENED IN REAL ESTATEIn 2018, our Northern Illinois Multiple Listing Service (MRED) introduced the “Private Listing Network” (PLN) to real estate agents.  Then, in November 2019, the National Association of Realtors banned the use of “pocket listings.”  The ban has been challenged but stands for now.  WHAT IS A POCKET LISTING?First, what is a pocket listing and why is it problematic? A pocket listing (sometimes called an exempt listing) is an agreement between the home seller and real estate agent (more specifically, the brokerage) that the house will not be listed on the  Multiple Listing Service (MLS,) but rather sold behind the scenes. There are multiple reasons sellers might not want their homes publicly ...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
Hubbard Woods Winnetka Real Estate in August 2022Hubbard Woods had just 2 new listings in August, which is 2 less than July. Five homes closed compared to 12 in July. And the median price of homes rose from $1.5M in June to $1.515M in July, to $1,660M in August.   HUBBARD WOODS 2 NEW LISTINGS - AUGUST 1485 Scott - $1,199,000 (under contract) 921 Fisher - $2,999,000   HUBBARD WOODS 2 NEW PRIVATE LISTINGS - AUGUST  1153 Asbury - $660,000 (under contract) 814 Boal Pkwy.$3,150,000   HUBBARD WOODS 5 SOLD HOMES - AUGUST 1330 AsburyList price: $1,625,000Sold price: $1,700,000Days on market: 4 838 LocustList price: $1,595,000Sold price: $1,765,000Days on market: 6 681 WaldenList price: $1,899,000Sold price: $1,800,000Days on market: 20 940 Private LnList price: $4,250,000Sold price: $3,900,000 ...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
What's Ahead for Winnetka & North Shore Real Estate?There are so many differing opinions about where the real estate market is headed. This is what I know and what I've gleaned from the real estate sources I follow. After having a super hot market for almost two years, change is definitely in the air. We see it locally with three markers: price reductions contracts falling apart longer days on market Inventory is still historically low but slowly, very slowly, creeping up. Conversely, mortgage rates have risen since June, and fallen again. It's a concern for some buyers who have decided to wait it out on the sidelines.This slowdown does not mean that we're in a depreciation phase - but rather a deceleration phase. Some real estate insiders think the market will pick up later this year a...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
Hubbard Woods Winnetka Real Estate in July 2022July's real estate statistics reflect sales dating from February to July, with six sales in April. For the most part, these numbers are lagging and don't reflect the changes we're seeing in the real estate market. Just four new homes came on the market last month with 12 closed homes. Of those 12 sales, 2 sold for less than listing price, 4 sold at list price, and 6 sold for over list price. The median price of a Hubbard Woods home has risen 59% since 2021. I checked the number twice it's so incredible. I think we've peaked as mortgage rates and reality are settling in.  4 NEW HUBBARD WOODS LISTINGS IN JULY 2022 1381 Asbury - $1,345,000 1240 Tower - $1,468,000 1016 Westmoor - $2,599,000 1330 Westmoor - $4,795,000   12 CLOSED HUBBARD WOODS L...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
Where to Find the Cheapest Gas in Winnetka and the North Shore Gas prices! Whatever can be done? There's no place to escape to - it's expensive everywhere.I drive a lot - it's an occupational hazard.  But what about you - have you tried to cut back by walking or biking (okay for a few summer months) or combining errands (good for those that can remember things and are organized.)I'm usually on fumes when I pull into whatever station is nearest - and they're all too expensive right now in Winnetka and Wilmette, or even Glenview and Northbrook. So here's a little help for your starved wallets - Gas Buddy - a good site to just plug in your zip code and be directed to the cheapest local gas prices in the area. There are other sites like this one but what I like about Gas Buddy is that ther...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
The Hubbard Woods real estate market still isn't "balanced," if there is such a thing in home inventory nowadays. This past June, 8 homes closed in; last June the number was an incredible 19. Would our number be higher now if there was more inventory? I think so.Look at the median price over the past three Junes:June 2022 - $1,500,000June 2021 -  $1,305,000June 2020 - $965,000That's a 55% increase in the median price over 3 years. Below you'll see that most (not all) homes are still closing at higher than the list price. A year ago almost all of the 19 homes sold below list price and still had long market times. 6 NEW LISTINGS IN HUBBARD WOODS JUNE 2022 941 Tower  $1,089,000under contract 260 Woodlawn $1,100,000 1305 Asbury $1,100,000 1291 Forest Glen $1,599,000under contract 812 Hibbar...
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