North Shore Real Estate Market Shows Growth Over Last Year

The 344 single, detached homes sold in Winnetka during November 2013 represented a 7.8 percent increase from November 2012, when just 319 homes were sold, according to the Mainstreet Organization of Realtors (MORe).

Meanwhile, the median home sales price increased in Winnekta during November. The median price went up 6.6 percent to $639,500 from $600,000 in November 2012, according to the statistics.

Glencoe is a similar story with a 7.4 percent increase in single, detached homes sold this November over last year. Glencoe also saw a big hike in valuable homes sold. The median sales price of a home sold in Winnetka went up 10.3 percent this November.

Among the 16 Patch communities surveyed throughout the North Shore and Barrington areas, the overall number of homes sold increased an average of 21 percent, significantly higher than the 2.4 percent drop seen across the estimated 200 Chicago suburbs MORe tracks.

The median sales price of homes sold in these Patch communities increased nearly 9 percent from November 2012 to 2013. MORe reports that the overall number of homes under contract to close in 2014 actually increased 12.5 percent.

“We should continue to see a very solid housing market in 2014,” said Michael Parent, president of MORe and Vice President of Operations for Burnet Title’s Chicago Region. “The gradual, sustainable increase of home prices in the Chicago suburban market is an especially positive trend. Rising values will allow more people to regain equity in their homes, helping to increase inventory, cut down on the number of future distressed properties and get the market moving. It’s truly a win for everyone – both buyers and sellers.”

Top Performers on the North Shore Region

(*Note: The realtors data supplied includes the Barrington area along with the North Shore region.)

• Largest percentage increase in homes sold: Kenilworth (62 percent)