Local correspondent Anne Brahin checked in today with a brief update on the Winnetka real estate market. Some highlights :
At the end of July there was a 14-month supply of homes available in Winnetka, up 16.7 percent from the previous July.
Six percent of available homes went under contract in July.
Two-thirds of the homes that sold had been on the market less than 90 days.
Even though homes are selling at 91% of the most recent list price, that price may be 30 to 38% below the original list price.
The rental market has never been as strong as it is today.
Brahin is advising sellers that they "have to be priced right. The perception of value is critical for buyers. You have to be the prettiest and the best-priced home on the market."
Both buyers and sellers, Brahin suggests, "need to have an agent who knows the inventory and who's been out touring consistently."
Anne Brahin manages the Prudential Rubloff office in Winnetka.