Since the average home price in Winnetka last year was $1,290,000, many people assume it's completely out of their range. There are many reasons people like living in the North Shore suburbs. There is also a local-vocal group of Affordable Housing advocates that would like to see home ownership in Winnetka become accessible to more people who would like to live there.
An average price, however, is just that. It means there are some interesting numbers at either end. For 2012, there were actually 20 homes that sold under $500,000. The least expensive home sold in Winnetka last year was a foreclosure that went for $290,000.
But the high end last year was a biggie. While it's not uncommon to see homes sell for $5-6 million, anything over that will garner attention. And so it was that this beautiful lakefront estate closed on the last day of December 2012 for $12, 250,000, after just four months on the market.
Originally listed for $13,900,000, the sellers bought it in 2005 for around $4.7 million. The spent the next several years gutting and rehabbing the home to its current magnificent splendor. While it is a lakefront estate, it does not have access to the beach because of the bluff along the water line. The views - spine tingling.
This sale may eventually be eclipsed - there is another Winnetka luxury home listed for $21,900,000 (originally listed for over $30 million.) That home is not located on the lakefront, but around one mile inland and sits on two acres. Oh, it's also more than 16,000 sq ft. We'll just have to wait and see . . .