North Shore Market Report - February 2017 vs. 2016
North Shore home sales were down 12% in February vs. a year ago, with declines across all villages except Winnetka, which was even with last year and Glencoe and Kenilworth, which had 0 closed sales last year.
Median prices were down 4% overall, with most villages declining. Only Lake Forest and Glenview were up.
Keep in mind that these sales reflect contracts written in the latter part of 2016. For a better view of today's market, see Accepted Offers and Showing activity below.
Accepted Offers - February 2017 vs. Year Ago
Accepted offers, which is a more relevant measure of the month's actual sales activity was actually up considerably from this time last year. Every villages showed double-digit increases in accepted offers except Wilmette, which was down 15%.
Showings - February 2017 vs. Year Ago
Showings were also up dramatically from this time last year, with the biggest increases in Highland Park and Glencoe. Only Kenilworth and Northfield had fewer showings this year than last.
An interesting phenomenon is going on this year. We are seeing strong activity at open houses; however showings are not as high as the open house traffic would indicate. Buyers are scoping the market on their own and less likely to hire an agent until they are close to making an offer.