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As Of July 22, 2014

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Just Added January 15th!

North Shore & Chicago Commercial Real Estate

Are you looking for North Shore or Chicago Commercial real estate?

Some excellent locations have recently opened up and are available for lease and purchase... retail & office space.

Click here & send us a note with your questions & interest



Foreclosures/ Short Sales And Bank Owned Properties

There's an avalanche of interest in short sales, foreclosures and bank owned propeties and we're committed to helping you sort thru all your options.

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North Shore Real Estate Market Update - November 2008 Update

July 22, 2014 - The North Shore Chicago real estate market suffered one of its worst months in October. Sales of both condos and single-family homes were off sharply. According to data from the MLS, a total of just 196 new and resale single-family homes were sold in the region during the month, a 20 percent decline in demand from the same period last year, when 246 homes were sold around the North Shore. The average sales price also suffered one of the largest drops seen in recent memory, plunging just over 20 percent. The average sales price fell to $703,523, down from $880,401 a year ago. Once again, the dramatic drop in demand for the most expensive homes in neighborhoods such as Winnetka and Glencoe was the main culprit for the slide in the average sales price. Just 36 homes were sold for more than $1 million around the North Shore during October, down from 57 homes sold in that price range a year ago.

October was even worse for Chicago condos for sale and the condo market on the North Shore. As sales of Chicago Condos continue to fall, the North Shore wasn't immune. According to MLS data for the month, a total of just 91 new and resale condos were sold around the North Shore, down 24 percent from the same period last year. Prices plunged to their lowest levels in two years in October. The average sales price fell 13 percent to $313,699. Buyers could expect prices to drop even further as the number of unsold condos sitting on the market continues to increase. The average turnover time for condos on the market around the North Shore has risen to 181 days, up from just 94 days in 2006.

It's becoming a buyers market out there. We've been tracking the average listing price for three-bedroom single-family homes in neighborhoods around the North Shore for the past year. Every neighborhood we track saw a drop in the average listing price in October, meaning some great deals for buyers on the market for a home on the North Shore.

City

Oct 1 2007

May 16 2008

August 4 2008

September 14 2008

November 11 2008

Change

Deerfield

$476,852

$457,541

$456,386

$465,441

$463,702

-0.37%

Evanston

$496,490

$474,639

$471,418

$447,916

$435,128

-2.85%

Glencoe

$978,295

$1,027,441

$1,006,438

$966,533

$673,371

-30.33%

Glenview

$534,757

$523,210

$486,612

$472,481

$459,227

-2.81%

Highland Park

$659,000

$539,903

$570,084

$577,900

$556,367

-3.73%

Lake Forest

$989,000

$1,129,275

$983,962

$963,193

$934,756

-2.95%

Northbrook

$487,179

$538,529

$542,082

$529,300

$496,870

-6.13%

Wilmette

$643,313

$568,524

$584,736

$578,374

$569,499

-1.53%

Winnetka

$902,198

$1,213,153

$1,151,585

$1,138,297

$940,199

-17.40%

Buyers haven't returned to the market in droves to take advantage of deals in neighborhoods around the North Shore yet. Listing prices have plunged in Glencoe and Winnetka, two exclusive markets in the area. However, this may be due to the fact that many homeowners are simply waiting for a better market, particularly more wealthy homeowners that aren't facing foreclosure. Other more affordable neighborhoods also enjoyed a significant drop in prices. Listing prices in Northbrook fell by 6 percent in the last two months, while buyers in Evanston are seeing the lowest prices in more than a year. The average listing price in Evanston dropped to $435,128, nearly 3 percent lower than just two months ago.

For example, we featured a four-bedroom and 3.5-bath home for sale in Winnetka in our last update in September. At that time, this home at 558 Willow Rd had been dropped in price from $1,189,000 to $1,075,000. Two months later, the price has been dropped yet again to $995,000. Prices are also coming down for some homes in the more affordable neighborhoods such as Evanston and Glenview. Other homeowners are waiting before offering another reduction in the asking price. Another home we featured in our last update in Glenview is a three-bedroom and two-bath home at 1733 Maclean Court. This home had been dropped in price from $459,500 to $449,000 when we checked in September. Today, the home is still on the market and the listing price remains the same. Search the North Shore Chicago MLS now and find great deals today.

While the North Shore is popular with families looking for extra space, great schools, and plenty of suburban amenities, there are also several opportunities for buyers on the market for the best North Shore Chicago condos. Several new developments have come on the market in recent months, while construction continues on many other projects.

Here’s a quick List of Evanston Condos For Sale:
Church Street Village
Sherman Plaza
Prairie Central
Main Street Station