Evanston Real Estate Market May 2016

The May 2016 Evanston median sales price was up 15% and inventory is down 7% so there is less competition out there right now for sellers. It’s a good time to list when inventory is low and buyers are still out looking for those end of August moves!

 

Evanston May 2016

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Evanston Market Update

We couldn’t have better news for this year’s Evanston housing market. March closed 9% above March of 2015 and year to date sales are up 7%! 2015 was a good year but 2016 is looking even better! It’s a wonderful time to list your home in Evanston. Take a look at the other detailed market statistics below and reach out to me anytime if you’d like a free market analysis of your home.

 

Evanston Spring 2016 April

Q

seminar

Buying your first home can be a little daunting. ‘Where do I begin?’ ‘What can I afford?’ ‘How do I do all the math?!’cartoon-stressed-out-man

 

The best thing to do first is gather your team together to help you. Find a real estate broker and a mortgage broker you like and trust to get you through the beginning steps. Here’s what they look like:

Step 1- Get pre-approved! Browsing late at night on housing websites looking through pictures for hours is lots of fun but you run the risk of falling in ‘love at first sight’ with something that isn’t in your budget. The pre-approval that you get from a licensed mortgage broker gives you an idea of exactly what you can afford while taking into account mortgage payment, taxes, insurance and assessments if any.

Step 2- Armed and Dangerous / Make a list- You’ve been supplied with your pre-approval. You’re armed with the letter and ready to pull the trigger on the first house you see. STOP! You still have to decide what you want!!! Take the time to write out your wish list. Order it according to priority of your ‘must-haves’ first, and keep in mind how long you plan to own your first home and what will fit your lifestyle during that period. I.E. Will you have pets during that time? Adding a spouse? Adding a roommate? Adding a child? You want to be sure your house has room to grow with you if your life might be growing in that time that you live there. Ask yourself questions like – “Am I willing to remodel or do I want new?” These types of questions help you narrow your focus from the start and have a more productive search.

Step 3- Virtual Showings- Ok now you are ready to browse to your hearts content online. Use whatever site you like best to search homes in the areas you like. However, be sure you like the site before you give your email address because you will end up on the e-mailing list until the end of time! ¬†In addition, reach out to your Realtor with your list and have them be looking for pocket listings and homes not yet on the mls or online. This is especially helpful in competitive markets to be ‘in the know’ and the first through the door.

These are just a few of the steps to home buying. I want to invite anyone who might be considering their first purchase to my first time home buying seminar. Details below. And if you are not able to attend, don’t hesitate to reach out to me personally and ask any questions you like. I am always here as a resource to help you get started!

 

Cathy Kozlarek FTHB Seminar Postcard

North Shore Luxury Homes

The North Shore of Chicago has some of Cook County’s most beautiful luxury homes. This week I want to take a look at how the market is looking within the Shore communities. Communities included for this graph were as follows:¬†Evanston, Glencoe, Highland Park, Kenilworth, Lake Forest, Wilmette, and Winnetka

Homes sold over $800,000

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One of the most important things to note about the current luxury market is that this is the highest MSI (month’s supply of inventory) in 3 years. A high MSI is great news for buyers. It suggests a strong buyer’s market and if you’ve been waiting to buy that luxury home in the North Shore NOW is the time!

Evanston Market Update February 2016

How does the Evanston Single Family Home market look so far this year? EXCELLENT! Thanks to this wonderful mild Winter we are having January sales for 2016 were up 50% from 2015. Further, the month’s supply of inventory is the lowest for January in the past 3 years which is phenomenal news for sellers. It’s the perfect time to list your home in Evanston!

Here’s a more detailed look:

Evanston Feb 2016 1

Evanston Feb 2016 2

Evanston feb 2016 3