Glenview home sales down, prices up

Full-year 2014 real estate sales and pricing data for Glenview Illinois are not yet available, but I have some preliminary numbers that are quite interesting.  Glenview is a north shore community near Chicago with many luxury homes.  The data represent transactions from January 1 through November 30. This data is not only for The Glen but rather for all of Glenview. Later in January I will be able to provide Glen-specific full year sales and pricing information.

So, for the first eleven months of 2014 home sales in Glenview were down 8%. This is for unit sales; that is, the number of homes sold. That’s not really surprising since 2013 was a banner year, a period when home sellers got off the sidelines after the long haul back from the depths of the recession.

Home prices in 2014, however, show an entirely different story. The median price of homes sold in Glenview was up 6%, and the price per square foot was up 10%. This is rather remarkable after such a strong 2013.

I also have information about sales prices vs. list prices in 2014, through November. The average selling price of a Glenview home was 96.4% of the average list price. Not bad. In real estate anything at 95% or higher is considered quite good. So, 96.4% suggests solid performance, though perhaps not extraordinary. In other words, the negotiating leverage between sellers and buyers was relatively even.

Home prices in The Glen tend to be higher than most (though not all) of Glenview. It will be interesting to see Glen-only sales and pricing data for the year. So check back with me via these weekly blogs toward the end of January or early February.

Margaret Ludemann, Glen homeowner and Coldwell Banker Realtor

Margaret.Ludemann@cbexchange.com   847-401-1802

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