Prices increased in The Glen in 2014

Home prices in The Glen (in Glenview, Illinois on Chicago’s north shore) rose again in 2014. While I haven’t completed my analysis of the entire Glen, I do have information about two of its neighborhoods.

Tower Crossing is the development adjacent to Glen Town Center (the shopping and dining “main street) with 154 luxury townhomes. If you’ve been to the Glen you will remember seeing them because the homes are 4 story, brick homes of Georgian architecture. These homes are large, ranging in size from 3031 sq ft to 4105 sq ft. In 2014 prices increased 3.9% after rising over 6% in 2013. The average price p/sq ft in 2014 was $206.01 compared with $198.28 in 2013. In the prior 3 years (2010 through 2012) prices were relatively steady at approximately $188 p/sq ft.

Prices also rose in Southgate. This development contains 237 large single family homes and 62 row homes. Among the single family homes 55 border The Glen Club’s 18 hole golf course, and 182 do not. I have analyzed the prices of single family homes. Prices for the homes that are not on the golf course increased 7% in 2014 to an average of $315.42 p/sq ft compared with $294.61 p/sq ft in 2013. There was only 1 home sold on the golf course, so I did not reach any conclusion as to pricing trends for golf course properties. Home sales (the number sold) in both developments were down last year, but I’ll save that discussion for a future blog.

When I complete my analysis for the entire Glen I believe I’ll find the same thing…home sales down, home prices up. That’s essentially what occurred in the real estate market nationally and in Glenview.

If you are interested in purchasing a home in The Glen, please give me a call. I am a long time Glen homeowner and a leading Realtor in the Glen and greater Glenview.

Margaret Ludemann

Coldwell Banker Realtor 847-401-1802