MARISSA HOPKINS' 2023 Semi-Annual Sales Report
How are Home Sales in my market?
The real estate market continues to be very unusual across the board. The most consistent finding is that the number of houses for sale are way down making it very difficult to satisfy the demand from buyers. It is still a seller’s market, but prices in most markets are stabilizing or even slightly down, which is good news for Buyers. (Scroll down for the full report to see specific community data.
- The median number of homes sold the first half of the year is down -26% for all the homes I track on the North Shore and nearby communities. That’s in comparison to -16% in 2022.
- Active listings as of June 30, 2023, based on the median, were down -29%. So there were nearly 30% fewer houses to buy at this time vs. last year. This has been consistent since the beginning of the year. Northbrook was hit the hardest with homes available for sale down -63% since last year at this same time.
- The median appreciation in sale price was up 4%, which is considerably less than last year at a median of price increase of 21%. That indicates prices are starting to stabilize. In fact, they were negative in a few suburbs. Wilmette’s appreciation was by far the highest at 17%.
This is a birds-eye view of the North Shore and surrounding communities. You can see your community’s semi-annual sales report below. Please note that this is only for Single Family Homes. To get the most accurate value for your or someone else’s home or condo, or if you have any real estate questions, please text or call Marissa at 773-612-8822.