There's No Place Like Home-The Local Market

For the first 9 months of this year, 169 homes have sold in Winnetka compared to 153 in first 9 months of ‘10.  There are 8 homes pending closing as we continue to carry nearly double the typical inventory load.

However, we do see signs of the market stabilizing.  This time last year the months supply was 15 compared to the current supply of 13 months. The average days on market for homes sold in September 2010 was 273 days compared to 236 for September of 2011.

For the first 9 months of this year, 104 homes have sold in Glencoe compared to 101 in first 9 months of ‘10.  There are 7 homes pending closing and a high supply of inventory remains on the market.  

There is market stabilization in Glencoe as well. This time last year the months supply was 19 compared to the current supply of 15 months. The average days on market for homes sold in September 2010 was 301 days compared to 246 for September of 2011.

The opportunity continues for buyers to purchase homes at prices lower than previously possible.

For sellers this means aggressive, attractive pricing is critical to attract those buyers.