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Realtor® Margaret Ludemann, Glen Homeowner

Low Inventory, Fast Sales In Southgate & Tower Crossing

July 23, 2013 by Margaret Ludemann

Southgate is a luxury development in The Glen, Glenview, Illinois with 239 single family homes.  Throughout 2013 there have been very few of these homes for sale at any given point in time.  In fact, last week there were none.  1 home came on the market this week.  It is likely to be under contract soon.

The lack of sellers is the primary reason for low inventory in Southgate, of course, but AVAILABLE inventory is determined not only by how many homes are offered for sale but also by how quickly they are sold.  Well, Southgate single family homes – when they do come on the market – sell so quickly that the cupboard remains bare or nearly so most of the time.  Looking at the 10 non-distressed homes (not bank owned, not short sales) that have either sold this year or are currently under contract, 5 went under contract in 9 days or less.  1 went under contract in 30 days; and the remaining 4 sold within a respectable 2 – 4 months period.  That’s fast, especially when you consider that the average price in 2013 has been over $1.1 million.

I also track the Tower Crossing development closely.  Tower Crossing in The Glen has 154 luxury town homes with 3031 to 4105 sq ft depending on model.  Home prices are typically between $650,000 and around $800,000.  As of mid-July, 17 homes have sold this year or are under contract vs. 11 sold in all of 2012.  Yet it’s been rare this year when more than 3 homes have been for sale at the same time.  Of 4 recent sales that I have made in Tower Crossing, 3 were contracted within a week; and the 4th had offers before the home was listed.

So the luxury home market is alive and well in The Glen.  If you would like to know more about homes in The Glen, please contact Margaret Ludemann, resident of The Glen, @properties Realtor.  847-401-1802.

 

Filed Under: Neighborhoods in The Glen, Real Estate in The Glen Tagged With: Glenview, home prices, housing sales, luxury homes, Southgate in The Glen, The Glen, time on market, Tower Crossing, townhomes

Margaret Ludemann, Realtor®
Phone: 847-401-1802
Text: 847-401-1802
Email: margaretludemann@gmail.com

at properties logo

@properties
1517 Waukegan
Glenview, IL 60025

@properties and Realtor® Margaret Ludemann are not affiliated with and do not represent any for-profit business or not-for-profit organization associated with the development known as The Glen, in Glenview, Illinois, including but not limited to any retail or commercial or professional enterprise, developers or builders operating in The Glen, or homeowners associations therein. Realtor Margaret Ludemann, Glen Homeowner is affiliated with @properties.
Broker Reciprocity© 2013 Midwest Real Estate Data, LLC (MRED). The data relating to real estate for sale on this website comes in part from the Broker Reciprocity program of Midwest Real Estate Data, LLC (MRED). Real Estate listings held by brokerage firms other than @properties are marked with the Broker Reciprocity logo or the Broker Reciprocity thumbnail logo (a little black house) and detailed information about them includes the names of the listing brokers. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

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