Want to skip straight to the data? Scroll Down or Click on Town Name!

Evanston | Glencoe | Glenview | Kenilworth | Northfield | Northbrook | Wilmette | Winnetka

Each day the media reports more news about inflation, interest rates and a housing downturn. What is really happening in the Chicago North Shore real estate market? We are carefully tracking data for our North Shore towns so that we can immediately know how the local market may be shifting. This month we focus on inventory levels with some recent historic perspective.

There's been a delicate balance between interest rates (see below chart for average rates in the last 12 months), along with the number of cash buyers, inventory levels and price.

Towns with more cash buyers tend to have prices remaining higher. In a few cases, such as Glencoe, inventory was slightly higher resulting in a very modest amount of price relief.

Note the historic low levels of inventory in most areas. Only Evanston and Glencoe have remained relatively stable in November over the last three years. The other communities have marked decreases from 2022.

In some cases, like Glenview and Winnetka, inventory is just 10% of where it was in 2008 at the time of the housing crash!

Note: "cash deals" refers to the percentage of single family home closings from 12/7/22-12/7/23 that closed as a cash deal in MRED. This does not include the number of contracts written as "cash, mortgage allowed", which effectively waive the mortgage contingency.