Recently I was asked to give a presentation about the real estate market to a group of business men and women. While preparing my presentation I was struck by the words I saw on my laptop’s screen, words that I had written, but startling none-the-less: sales are up, prices are up, time on market down, far fewer distressed properties. Seeing these words on the screen put a smile on my face. I decided to create another slide that I would have prepared not very long ago: sales stagnant, prices flat & still falling in some areas, time on market still way too long, too many distressed properties dragging down prices.
Bob Dylan was right, The Times…they are a-changin’
Real estate in The Glen is doing quite well. Most north shore communities saw increases in prices in 2012 of between 2% – 3%, most of those gains being won late in the year. But prices in zip code 60026 (dominated by The Glen) rose 4.5% last year, in contrast with greater Glenview (zip code 60025) at 2.9%. While there are many reasons for The Glen’s superior price performance, I believe the attractiveness of our community’s lifestyle is at the top of the list. Glen Town Center’s many shops and restaurants (as well as its theater, spa, book store and art gallery), along with Lake Glenview, Gallery Park and golf courses, make this a particularly wonderful place to live. Our variety of homes, from stately single family homes in Southgate, Chapel Crossing, and Landings to stunning townhomes and villas Tower Crossing, Cambridge, and Regency also attract buyers.
Improving prices are welcome news to Glen homeowners, but buyers have reasons to smile as well. Prices are still well below their peaks of 5 years ago. North shore communities are still between 20.5% and 26.1% below those highs. So this is a great time to buy a Glen home while prices are still below their peaks and before they get any higher.
Margaret Ludemann, resident of The Glen, Coldwell Banker Realtor