January Home Sale Prices Up Significantly in Winnetka, Glencoe

Home prices in both Winnetka and Glencoe rose significantly in January 2014 as compared to January 2013, while the number of homes sold increased slightly.

The six single, detached homes sold in Winnetka during January 2014 represented a 20 percent increase from January 2013, when just five homes were sold, according to statistics provided by the Mainstreet Organization of Realtors and the North Shore-Barrington Association of Realtors.

The nine single, detached homes sold in Glencoe during January 2014 represented a 13 percent increase from January 2013, when just 8 homes were sold,

But the real increase was in sale price.

The median home sale price increased in Winnetka 22 percent to $1,578,546 from $1,295,000 in January 2013, according to the statistics.

Glencoe saw and even bigger jump. There, the median home sales price went up 54 percent to $1,100,000 from $712,000 in January 2013, according to the statistics.

“Home prices in suburban Chicago have continued to experience healthy, sustainable growth in the first month of 2014,” said Michael Parent, president of MORe and Vice President of Operations for Burnet Title’s Chicago Region. “One of many factors driving increased prices is a continued lack of inventory, which will likely improve as people come out of hibernation and the market starts breaking open in March or April.”

Top Performers

• Largest percentage increase in homes sold: Darien (100 percent)
• Largest percentage increase in median sales price: Kenilworth (121.6 percent)
• Most homes sold in January 2014: Naperville (74)
• Highest median sales price in January 2014 (MORe): Hinsdale ($770,000)
• Highest median sales price in January 2014 (NSBAR): Winnetka ($1.578 million)

Related: A chart of January sales for all Patch towns in the Chicago area.

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