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What’s Going On In The Winnetka Market? Four Charts Provide The Answer – Nov 2018

November 2, 2018 by Lisa Finks Leave a Comment

There has been a lot of talk about skittish buyers and drops in home sales in the Chicago area.  I was curious how that translated to the Winnetka market so analyzed the data and was surprised by what I found.

First, showing activity – the third quarter started out slower than 2017 but in the last few weeks, it has picked up and has pulled ahead of last year.  So buyers are out shopping and the pace is starting to pick up over last year.  That is good news.

Winnetka Showings By Week 3Q 2018

Winnetka Showings By Week 3Q 2018

Next, I looked at Under Contract activity.  After all, if buyers are looking but not buying – that doesn’t help the market at all. . . 

But under contract activity is up in Winnetka over 2017 levels, so buyers seem to be buying more Winnetka homes now that they did in the third quarter of last year.

Winnetka Under Contract3Q 2018

Winnetka Under Contract3Q 2018

Showings and under contract activity seem to be edging past 2017 levels but it makes sense to check one last metric – inventory levels.  And those have decreased in 2018 v. 2017 so there are fewer homes on the market.  The months supply of home has decreased from 6.6 months a year ago to 6.0 months.  In raw numbers, 158 detached homes were for sale in Winnetka on 10/31/17 and 141 are on the market one year later.  So with slightly less inventory and increased buyer showing activity, prices are pushing up.

Winnetka Months Supply of Homes October 2018

Winnetka Months Supply of Homes October 2018

And average prices have pushed higher in Winnetka which is great news for sellers.

Winnetka Months Supply of Homes October 2018

Winnetka Months Supply of Homes October 2018

In sum, the Winnetka market is strong!  It’s still a great time to buy and sell!

For sellers, make sure your home is prepped to sell and priced competitively to contend with increased competition. 

For buyers, even though interest rates are rising, they are still at historically low levels and with a strong economy, it’s still a great time to invest in your future by purchasing a home.

Whether buying or selling, I’m happy to help.  Please call me at 847-778-0540 or email me at Lisa@LisaFinks.com.

For details about my exclusive Strategic Seller Program, click here.

For details about the comprehensive services offered to buyers, click here.

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Lisa Finks, Lourdes Arencibia & Carolyn Duris, 565 Lincoln Ave, Winnetka, IL (847) 778-0540 info@northshoreaddress.com

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© 2019 Lisa Finks, Compass Real Estate. All Rights Reserved.

LISA FINKS, LOURDES ARENCIBIA & CAROLYN DURIS ARE REAL ESTATE AGENTS AFFILIATED WITH COMPASS, A LICENSED REAL ESTATE BROKER WITH A PRINCIPAL OFFICE IN CHICAGO, IL, AND ABIDE BY ALL APPLICABLE EQUAL HOUSING OPPORTUNITY LAWS. ALL MATERIAL PRESENTED HEREIN IS INTENDED FOR INFORMATIONAL PURPOSES ONLY. INFORMATION IS COMPILED FROM SOURCES DEEMED RELIABLE BUT IS SUBJECT TO ERRORS, OMISSIONS, CHANGES IN PRICE, CONDITION, SALE, OR WITHDRAWAL WITHOUT NOTICE. NO STATEMENT IS MADE AS TO ACCURACY OF ANY DESCRIPTION. ALL MEASUREMENTS AND SQUARE FOOTAGES ARE APPROXIMATE. THIS IS NOT INTENDED TO SOLICIT PROPERTY ALREADY LISTED. NOTHING HEREIN SHALL BE CONSTRUED AS LEGAL, ACCOUNTING OR OTHER PROFESSIONAL ADVICE OUTSIDE THE REALM OF REAL ESTATE BROKERAGE.