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Health & Fitness

Local Market Activity

What has been the activity level within the Winnetka/Glencoe local market?

The NAR (National Association of Realtors) just announced on August 18 that nationally, July existing homes sales (transaction activity) fell three and a half percent. An increase was expected, so more consumer worry is the end result.  

Here are some noteworthy notes:

The June 2011 number was revised upwards by one and a half percent from last month, so the June NAR headline which reported a slight drop in activity was wrong as there was actually a slight increase.

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This headline three and a half percent drop compares July 2011 to June 2011. Noted below this headline, July 2011 sales were stated to be 21 percent higher than July 2010. Wow, isn’t this a much better perspective?

Also noted was that housing inventory fell 1.7 percent, a possible positive for pricing going forward?   

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A minor point, you know these numbers are seasonally adjusted, which can affect comparisons.

Turning our attention locally:

I compiled some activity statistics to show our local market activity. Hopefully I have appropriately aggregated small sample-size data so as to arrive at a meaningful depiction of our activity level. These stats are based on “single family detached” closings.

Winnetka plus Glencoe # of closings

110   May-June-July 2011 “up 15.8% over 2010 period, up 52.8% over 2009 period”

95     May-June-July 2010  

72     May-June-July 2009  

77     May-June-July 2008  

2011 May-June-July “period closings increased compared to prior years”

Boy, have we rebounded from activity levels in 2009!

Winnetka plus Glencoe # of closings

219   Jan to Aug 18, 2011               

295   Full year 2010

242   Full year 2009 

2011 YTD closings “are well on pace to surpass 2010 closings”

Winnetka plus Glencoe “closings pipeline”

19     Aug 2011 closed (thru 8/18/11)

35     As of 8/19/11 pending         

41     As of 8/19/11 contingent

I would conclude that our local market activity levels appear to be fine, although personally I can proclaim that I need buyer clients! 

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