September 2017 vs. Year Ago
North Shore home sales took a rumble in September, reflecting the slowdown in buyer activity during the summer months. Closed sales were down a whopping 21%, driven by declines in every village except Glenview, Lake Forest and Northfield (which increased off a very low base).
Median prices were up slightly overall, though increases were healthy in Wilmette, Glencoe and Lake Forest. Only Highland Park showed a significant decline this past month.
Year-to-Date September 2017 vs. 2016
The year-to-date numbers are somewhat more encouraging. Closed sales for the nine moths through September were up 3%. Evanston and Wilmette, the two markets that have been consistently strong performers over the last few years, seemed to have hit a plateau, while other villages played catch-up.
Median prices for the year are also up 3% overall, though the gains were only in Glenview, Lake Forest, Evanston and Kenilworth.
Current buyer activity is best understood by looking at Accepted Offers. which were down 16% from August and down 8% vs. last September. This doesn't bode well for closed sales in the remaining months of the year.
Accepted Offers - September 2017 vs. 2016
If you have any questions about the market or would like to schedule a buyer or seller consultation with the Anne West and the Come Home North Shore Team, please give us a call at 847.881.6657 or email us at ComeHome@cbexchange.com.
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