existing home sales

76 home sales in The Glen in 2016

by

There were 76 home sales in The Glen in 2016, almost identical to the 78 sold in 2015.  The Glen is a residential and retail development in Glenview Illinois known for its luxury homes and Glen Town Center, the shopping and restaurant mecca of Chicagoland’s North Shore.  It resides on the former property of the Naval Air Station Glenview.

The Glen consists of about 1300 luxury homes in nine distinct neighborhoods, all within walking distance of Tower Drive, Glen Town Center’s “main street”.  All neighborhoods had sales last year.

The Cambridge neighborhood, consisting of single family homes, duplexes, two-flats and row homes, had 10 sales among its 279 properties.  Chapel Crossing, a development of 168 single family homes, had 3 sales.  Glen Shore (31 condo apartments) and Landings (143 single family homes) each experienced 4 sales, while Patriot Commons (condo apartments and townhomes), Southgate Townhomes (62 units), and the new Westgate development (171 row homes and single family homes) each had 5 sales.  There were 19 sales in Regency among its 142 townhomes, duplexes and single family homes.  Of the 237 single family homes in Southgate 10 sold, and among Tower Crossing’s 154 townhomes 11 were sold and another 11 were rented.

As you can tell by my last paragraph there is a large variety of home types and styles in The Glen.  Home prices last year ranged from $330,000 to well over $1 million.  So there is something here for everyone.  If you may be interested in The Glen, please call me at 847-401-1802 or email me at margaretludemann@gmail.com.  I lead The Glen Realty Group team, and would love to show you around.

Margaret Ludemann, @properties Realtor

Home sales surge, prices rise, time on market falls in The Glen

by

2013 was the year that Glen homeowners have been waiting for.  The Glen is an upscale residential and retail development in Glenview, Illinois in the Chicago area’s North Shore. The real estate market for its homes was exceptionally strong.  Sales were up considerably, prices rebounded nicely, and the time it took to sell homes fell.  Further, nearly every Glen home listed for sale in 2013 sold.

Broad economic factors positively influenced existing home sales in the U.S. which gained 9.3% for the year.  The U.S. economy gathered strength through 2013.  Job growth continued to climb.  According to the Bureau of Labor Statistics the unemployment rate fell to 7% by November 2013 from 7.9% in January 2013 and from its recent high of 10% in October 2009.  Interest rates remained at historically low levels, though they inched upward during the year.  Low rates and the prospect of higher future interest rates served as incentives for many potential home buyers.  Stocks soared during the year with the S & P 500 gaining 29.6% which no doubt made potential home buyers feel more financially secure.

Years of declining values once again brought many bargain hunting investors into the U.S. housing market.  Pent up demand by trade-up buyers also fueled the increase in home sales. 

As prices rose during the year fewer homeowners found themselves “under water” (homes worth less than the mortgage balance), thereby reducing their incentive to sell.  This resulted in a decline of available housing inventory.  Over the last several years sellers far outnumbered buyers, but that was reversed in 2013 giving sellers the negotiating advantage.  The result…further improvement in home prices.

It was the best year for home sales and prices in years, and you will see that reflected in my future blogs dealing specifically with sales of Glen homes.

Margaret Ludemann

Glen homeowner and @properties Realtor