Welcome to the 2013New Trier Report!!

The 2012 New Trier Report letter led with the following..

“The level of my optimismfirst expressed in the 2010 New Trier Report and confirmed in the 2011 Report is now elevated to “very optimistic” ….

The appropriate phrase for 2013 is “patient continues to make excellent progress toward a full recovery” The data suggest we’re well on our way to a long period of sustained increases in both number of transactions and Average Sale. Read on to learn more and as always if you have a comment or question just give me call/text or voicemail. In 2013,

  • Total SalesINCREASED (13%) for the fourth consecutive yearled this year by the four (4) bedroom segment which Sales rise 21% versus 2012and ..
  • The Average Sale Price INCREASED again (8%) lead this year by the 5 bedroom segment which rose 8%
  • For the 5th straight year, the time it took to sell a home DECLINED ….to just 3 months now. Again and as one would expect, the 3 bedroom Segment was the strongest performer declining from 119 days in 2012 to 60 days !!!
  • As we have said for three years now,

”in the recent months the huge majority of the statistical data as reported by national and local real estate organizations indicates improvement in the overall market !!! Not a straight line up, but steady strengthening of almost every market segment. This is what we are seeing in the New Trier market”.

Below is commentary regarding each of the 5 marketssegments. In short, it’s good to be a seller..finally.

Individual community results:

  • Wilmette: The improvementexperienced in 2011 -2012 continued in2013 Sales and Sale Price rose 8 and 6% respectively. Particularly remarkable again was the decline in the time it took to sell a 3 bedroom home DECLINED to 46 days..as expected given that smaller homes usually lead the way in an improving market.
  • Glencoe: The Average Sale Price rose 11%led my 3 bedroom Prices which increased 26%.Sales increased very modestly.
  • Winnetka: The improved market conditions of 2012 continued in 2013 with all 3 segments recording increases in both Sales and Average Sale Price. The exception was the 5 bedroom segment whose Sale Price declined modestly. The time it took to sell a home declined by almost 50% versus 2012 and stands at 3 months !!.
  • Glencoe: Experienced modest growth in Sales across the board but good growth in Average Sale Prices of each segment led by the 3 bedroom Segment ..
  • Northfield: Northfield was the most interesting community in 2013 as although Sales remained FLAT, Average Price rose 21% . The four bedroom segment experienced good improvement whereas the 3 and 5 bedroom segments experienced declines. The time it takes to sell a home in Northfield is also the highest of the 5 communities. Go figure.
  • Kenilworth:Results are truly bizarre. Sales increased 60% but the Average Sale Price Declined . The problem of course is the small sample size. This is why it is difficult to draw any definitive conclusions over a short period of time.

I remain convinced we will continue to see consistent steady improvement in our markets in 2014 and beyond. The New Trier Communities remaindesirable environments to raise a family due to our strong educational institutions and recreational activities combined with easy access to Chicago and the entire metropolitan area.

Ifyou enjoy this 2013 New Trier Reportand have a comment, question etc. I would welcome the opportunity to speak with you (847-508-3595). If you do not want to receive the New Trier Report in the future please let me know.

Finally should your needs involve the buying or selling of your home I would be honored to represent you. In addition, residential real estate is a referral business and the biggest compliment you can give me would be to refer your friends, family and associates!

I look forward to hearing from you and have a great 2014!!