Housing Market In North Shore And Barrington Area Remains Strong

Closed sales, median home sale prices and the number of new listings in the North Shore and Barrington area have all steadily increased throughout June

Northbrook, IL – July 27, 2015 – (RealEstateRama) — The North Shore and Barrington housing market remains strong as we reflect upon the first half of the year. According to data from the North Shore – Barrington Association of Realtors (NSBAR), the number of closed sales and the median sales price for homes has increased in June compared to this time last year.

Closed sales in the North Shore and Barrington region are up to 986, an increase of 12.2 percent compared to June of last year. Comparing year-to-date, the number of closed sales has increased to 3,525—up 7.2 percent.

“We are seeing an increase in first time home buyers who are accounting for a larger percent of sales. Other data sources show that the increase in appreciation of average sales prices is nearing the 2007 price levels,” said NSBAR Board President and broker with Realty Advisors North Wayne Paprocki, MCNE, DREI, GRI.
The median sales price has gained traction and in June it was up to $452,250, a 5.8 percent increase compared to this time last year.

News listings in the North Shore and Barrington region are also showing inclines. Compared to this time last year, new listings are up by 3.7 percent to 1,583. Year-to-date, new listings have gone up by 11.9 percent.

Across the North Shore-Barrington region, June 2015 housing market highlights include:
– Year-to-date, 2445 detached single-family homes sold in the North Shore-Barrington market. In the majority of communities, sales for 2015 increased along with the median sale prices. Communities reporting an increase (or no change) in sales year-to-date compared to June 2014 include Deerfield, Golf-Glenview, Kenilworth, Lake Forest, Lincolnshire, Lincolnwood, Mettawa, Morton Grove, Niles, Northbrook, Northfield, Skokie, Wilmette and Winnetka.

– Barrington area –279 detached single-family homes sold year-to-date, up 15.3 percent compared to 242 detached single-family homes sold by June 2014. The median sale price in June 2015 was $500,000, a decrease of 3.8 percent compared to $520,000 a year ago.

– Deerfield – 140 detached single-family homes sold year-to-date, up 30.8 percent compared to 107 detached single-family homes sold by June 2014. The median sale price in June 2015 was $535,000, up 13.8 percent compared to $470,000 a year ago.

– Evanston – 232 detached single-family homes sold year-to-date, up 22.1 percent compared to 190 detached single-family homes sold by June 2014. The median sale price in June 2015 was $465,625, down 5.0 percent compared to $490,000 a year ago.

– Golf-Glenview – 231 detached single-family homes sold year-to-date, down 0.4 percent compared to 232 detached single-family homes sold by June 2014. The median sale price in June 2015 was $560,000, up 4.7 percent compared to $534,625 a year ago.

– Lake Forest – 123 detached single-family homes sold year-to-date, down 7.5 percent compared to 133 detached single-family homes sold by June 2014. The median sale price in June 2015 was $790,000, up 3.3 percent compared to $765,000 a year ago.

– Northbrook – 203 detached single-family homes sold year-to-date, up 13.4 percent compared to 179 detached single-family homes sold by June 2014. The median sale price in June 2015 was $550,000, up 8.9 percent compared to $505,000 a year ago.

– Skokie – 212 detached single-family homes sold year-to-date, down 4.5 percent compared to 222 detached single-family homes sold by June 2014. The median sale price in June 2015 was $280,000, up 4.1 percent compared to $269,000 a year ago.

– Winnetka – 112 detached single-family homes sold year-to-date, up 20.4 percent compared to 93 detached single-family homes sold by June 2014. The median sale price in June 2015 was $1,272,500, up 2.6 percent compared to $1,240,000 a year ago.
Sales and price information is generated by NSBAR with Midwest Real Estate Data.

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The North Shore-Barrington Association of REALTORS® (NSBAR) represents more than 3,500 practitioners in residential and commercial real estate. Since 1919 it has been the area’s leading advocate for private property rights and a healthy real estate environment. Visit NSBAR online at www.NSBAR.org.

Based on Census Tract data, MRED defines the North Shore as including Bannockburn, Deerfield, Evanston, Glencoe, Glenview, Golf, Highland Park, Highwood, Kenilworth, Lake Bluff, Lake Forest, Lincolnshire, Lincolnwood, Mettawa, Morton Grove, Northbrook, Northfield, Prairie View, Riverwoods, Skokie, Wilmette and Winnetka.

Contact: Sally Blake
communication (at) nsbar (dot) org
(847) 480-7177