single family homes

Real estate in The Glen: August lull, September to pick up

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I have a Glen-specific, proprietary website. In fact you may be reading this blog on that site. It provides information about real estate in the Glen (in Glenview Illinois)and allows visitors to search Glen listings. The search engine optimization firm that I employ provides the tech-marketing magic that brings prospective home buyers to the site; and I am provided with numbers of all kinds weekly.  These numbers show a late summer slow down in the Glen, which is seen nationally as well. In the 4 week period in May over 2,000 first time visitors came to my site. (This is a very POWERFUL tool!) The following 4 week periods declined by 7.6%, 6.7% and 10.9%. In the last two weeks alone (August 10 – 24) the number of first time visitors was down 35% from May. Looking at the site’s first time visitors in previous years shows this same pattern.

The good news for prospective home sellers in the Glen is that the number of first time visitors increases in September and then remains relatively even and strong until December. This trend is supported by my site’s prior-years data. So homowners thinking of selling, should be getting their homes on the real estate market soon to take advantage of the increase in buyer interest just around the corner.

But it’s not only buyers who take a real estate time-out in mid-to-late summer. The listings cupboard in the Glen is pretty bare right now, too. Of the 237 single family homes in the Southgate neighborhood, there is only 1 home listed for sale. The same is true in Tower Crossing, the large, 4 story brick townhomes adjacent to Glen Town Center. In that development there are 154 homes, but only 1 is listed for sale. At the Landings (formerly Concord) and Chapel Crossing neighborhoods (with 311 homes combined) there are only a couple of listings.

Spring interest among buyers is matched by sellers who want to take advantage of that peak selling season. People with children want to make their purchases and get moved in before the new school year begins. In mid-to-late summer interest drops as I’ve shown above; and smart sellers know this so many get their homes on the market in late winter/early spring; and conversely there are few new listings in mid-to-late summer or from Thanksgiving until early March.

Margaret Ludemann, Glen homeowner and @properties Realtor

MargaretLudemann@gmail.com   847-401-1802

Chapel Crossing at The Glen… a great place for families

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Chapel Crossing is an upscale housing development in The Glen, in Glenview Illinois. It consists of 168 luxury homes, all single family detached.

It was constructed 13 years ago when The Glen was just getting under way. The developer was Kimball Hill Homes which also developed nearby Tower Crossing. Homes in Chapel Crossing range in size from 2300 sq ft to 4200 sq ft with most being toward the high end of this range. The architecture is traditional, and the interior designs are elegant yet comfortable. All have large beautifully landscaped yards and detached garages.

The development is named after the lovely chapel at the corner of Patriot Boulevard and Chestnut Avenue which had served as the place of worship for the Naval Air Station Glenview which is the former occupant of the land upon which The Glen now resides. The Chapel still stands, though now it is used mainly for weddings, community events and a pre-school.

The main entrance into Chapel Crossing is from Patriot on Independence Avenue. Kimball Hill Homes wished to create a grand boulevard of large, stately homes; and the firm succeeded masterfully. The boulevard has a broad, wonderfully landscaped median with many park-like amenities including benches, play areas, and large trees.

The real estate market in Chapel Crossing is stable. As the primary homeowner demographic is defined by families with children, the annual turnover of homes is relatively small. In 2013, only 9 homes were sold (5.3% of the development.) Home prices range from about $900,000 to roughly $1.25 million. Prices last year averaged $1,031,527.

Chapel Crossing resides across Chestnut Avenue to Attea Middle School, the Glenview Park Center, Little Bear Garden,  and Gallery Park. It is but a short walk to Glen Town Center, The Glen’s main shopping and restaurant area, and to two impressive golf courses.

If you would like to learn about living in Chapel Crossing please email me at margaret.ludemann@gmail.com or call at 847-401-1802. I am a Glen homeowner and an award-winning realtor affiliated with @properties.

Margaret Ludemann

Home prices UP at Southgate On The Glen

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There is evidence that Southgate On The Glen home prices are improving in 2014. This is consistent with real estate markets in greater Glenview, the North Shore, and most of the country. Southgate is a housing development in The Glen, the North Shore’s premier lifestyle community in Glenview, Illinois. Single family luxury homes in Southgate generally sell in a range from $1 million to $1.5 million unless they are “estate” homes on The Glen Club’s golf course in which case the range is typically between $1.5 – $2.2 million. Some have sold for more. Southgate also has townhomes and villas, however they are not a part of this report and blog.

In my last blog I reported on home SALES in Southgate. Here are my calculations to substantiate the improvement in Southgate PRICES:

  • Through June 15 this year, the prices of the 4 Southgate homes that have closed have averaged $332.55 per square foot (hereinafter “p/sq ft”).All are detached/single family homes, but not on the golf course.
  • In the same period last year (January 1 – June 15) the prices of the 5 homes that closed averaged $283.56 p/sq ft. (also non-golf course) This represents an increase of 17.3%.
  • The prices of Southgate (non-golf course) homes sold in all of last year averaged $294.61 p/sq ft. Obviously the prices increased last year from June 15 through the end of the year by $11.05 p/sq ft.
  • Comparing this year’s prices ($332.55 p/sq ft) vs. all of last year ($294.61 p/sq ft), we see an increase of 12.9%.

We should be cautious in reading too much in these numbers because we only have 4 sales this year. Any single sale could throw off the average. But because the percentage improvement is so substantial, I believe it is fair to assume that prices in Southgate have indeed increased to some degree. At year end we will have more 2014 sales to compare against last year; thus the percentage improvement will be more certain.

Margaret Ludemann, Homeowner in The Glen and @properties Realtor

847-401-1802,margaretludemann@gmail.com

Home sales in Southgate at The Glen

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Southgate is a housing development with 237 single family homes in The Glen. It also has 62 townhomes and villas. The Glen is the premier lifestyle community on Chicagoland’s North Shore in Glenview Illinois with 9 distinct neighborhoods offering luxury homes of all kinds, including single family homes, townhomes, row homes, villas, apartment condos, duplexes, and two-flats.

I haven’t blogged about Southgate since February 3rd, so I’m devoting this blog and my next to that wonderful neighborhood. Today I’ll address the sales of its single family homes, comparing with last year-to-date. Next week I’ll write about home prices. (Hint, they’re going up this year.)

So, analyzing sales data from January 1 through June 15, I’ve found that overall activity is similar to last year. That is rather amazing given the fact that we experienced such a long and severe winter. Real estate sales throughout the country were down through March, but started to pick up thereafter.

HOMES SOLD: In this 5.5 month period 4 single family homes have sold, meaning that the transactions are not only under contract, but they have actually closed. In the same period last year, 5 homes had closed.

UNDER CONTRACT HOMES: In addition to the homes that have closed, 5 are under contract (at June 15th) waiting to close sometime in the next couple of months. Last year, 4 were under contract on that date.

FOR SALE LISTINGS: Both in 2013 and 2014 there were 2 homes listed for sale at June 15th.

While activity has been similar in the two years, I’ve noticed that the real estate market in Southgate picked up last year after June 15. In fact, while 5 had closed by June 15, 2013, 8 more closed the rest of the year. Perhaps Southgate will experience a similar increase the rest of this year, though my guess is that 2014 may see somewhat fewer sales as compared with the red hot market in 2013.

If you would like to know more about living in Southgate or anywhere in The Glen, please contact me at 847-401-1802 or by email MargaretLudemann@gmail.com. I am a long time Glen resident and a @properties Realtor.

Margaret Ludemann

Glen Town Center Sold

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Glen Town Center has recently sold. Owned by the Oliver McMillan Company out of San Diego since inception, it sold to Dallas, Texas based Tabani Group, Inc. last month. Glen Town Center is The Glen’s shopping and dining hub, basically the neighborhood’s “main street.”

The Glen is an upscale residential and retail development in Glenview, Illinois; and it’s generally considered the finest lifestyle community on Chicagoland’s North Shore. Nine residential neighborhoods reside in The Glen offering homes of all kinds including single family homes, town homes, row homes, apartments, duplexes, two-flats, villas, and condos. Home prices range from the $400,000’s to well over $1,000,000.

At the center of it all is Glen Town Center’s excellent restaurants (many with outdoor dining in the summer), shops & boutiques, a movie theater, a book store and a spa. Some of the popular spots along Tower Drive (main street) include Von Maur department store, Dick’s Sporting Goods, Glenview Jewelers, Hot Mama, and numerous small boutiques. Restaurants include Bravo Cucina Italiana, Yard House, MooYah, Jamisons, Ted’s Montana Grill, RA Sushi, and The Curragh Traditional Irish Pub. 90% of retail space is filled.  It is only Glen Town Center that sold, not the residential areas.

Glen homeowners love the lifestyle created by the vibrancy of Glen Town Center. It’s not just the restaurants and shops that attract area residents; Oliver McMillan sponsored many activities including an annual art festival, classic car days, weekly concerts on the green, and many things for children. The new owner promises even more activities in Glen Town Center.

The real estate market in The Glen is strong. Most homes sell rather quickly here and at a very high percentage of asking price. If you may be interested in living in The Glen, please contact me at MargaretLudemann@gmail.com. I am an original Glen homeowner and an award winning Realtor affiliated with @properties.

Margaret Ludemann