Archive for April, 2014

Five Reasons To Sell Your Home!

1. Real Estate is Now a “Sellers” Market:

Currently there are fewer homes for sale . Under 6 months of inventory of homes for sale is considered a sellers Market

2. Home Prices are “Rising”

Lower inventory will command a higher price which is controlled by the seller not the buyer.

3. More Buyers Competing for YourĀ Home:

Sellers can take advantage of more buyers competing for your home. Many times a seller will have multiple offers on their home because the demand is greater than the supply.

4. More Money to You as a Seller:

The higher the sale price the more money you can make on the sale.

5. More Money to Do what you want:

If you are able to get more money then it means you can use this money for other things like retirement..

 

NOW is the time to take advantage of the housing market recovery.

Call Today: 708-309-5334 or 847-674-6710

Jack Lewitz, Broker Owner

email: [email protected]

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First Quarter 2014 is turning into a Seller Market

Seller Market:

The supply of inventory in a seller market is under 6 month.

Buyer Market:

The supply of inventory in a buyer’s market is over 6 months.

There clearly are fewer homes on the market this year than last year and as a result the market is shifting from a buyer’s market to a sellers market in many of the suburbs. If you are thinking about selling then this may be the year to sell. If you are buying it may cost you a little more this year but we are still below figures from all time high figures in 2006.

 

City # Active Listings # of Pending # Closed in 1 Month # Months of Inventory Buyer/Seller Market
Evanston 103 100 29 3.4 Seller
Wilmette 82 101 28 2.9 Seller
Winnetka 116 60 10 12.0 Buyer
Glencoe 68 32 12 5.6 Seller
Highland Pk 139 98 26 5.3 Seller
Glenveiw 146 113 37 3.5 Seller
Skokie 133 104 29 4.5 Seller
Lincolnwood 52 37 7 7.4 Buyer
Northbrook 136 88 21 6.4 Buyer
Northfield 31 16 6 5.1 Buyer

Written by Jack Lewitz | Discussion: No Comments »

Home Values on the Rise

It has been reported that home values are finally on the rise. The chart below shows the average price of a home in 2006 and what the appreciation is over that last 24 months. As this chart indicates appreciation is still in single digit numbers and the average home price is still off the highs found pre market crash of 2006.

City Avg Price in 2006 Low Price High Price Avg Price 12 Mo Avg Price 24 Mo % Appreciation
Evanston $755,000 $30,000 $4,000,000 $523,000 $517,000 1%
Wilmette $1,071,000 $210,000 $1,955,000 $725,000 $722,000 0%
Winnetka $2,552,000 $426,000 $12,700,000 $1,383,000 $1,317,000 5%
Glencoe $1,754,000 $300,000 $8,000,000 $1,202,000 $1,106,000 8%
Skokie $399,000 $100,000 $865,000 $274,000 $265,000 3%
Lincolnwood $527,000 $175,000 $900,000 $373,000 $356,000 4%
Northbrook $908,000 $170,000 $4,250,000 $561,000 $540,000 3%
Northfield $1,264,000 $215,000 $2,615,000 $754,000 $757,000 0%

Written by Jack Lewitz | Discussion: No Comments »

First Quarter Sales in 2014

TheĀ  Last 3 Month Sales Statistics continues to show a downward trend in distressed sales but many cities are still in double digit numbers.

City # Closed # Distressed % Distressed
Evanston 69 16 23
Wilmette 66 7 10
Winnetka 33 2 6
Glencoe 19 0 0
Highland Pk 61 9 14
Glenview 85 17 20
Skokie 86 32 37
Northbrook 73 10 13
Northfield 15 1 6

Written by Jack Lewitz | Discussion: No Comments »

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