North Shore homes sales in the 3rd quarter of 2013 were up 22% from the 3rd quarter of 2012. Market times were down dramatically. 86 days was the average time on the market. Down from 138 days a year ago. In Wilmette the average was just 53 days. Single family home prices have been improving this year also. The median price for the North Shore was up 5% in the 3rd quarter.
Moreover, the market continues to move in a positive direction.
Interest Rates have risen this year. They are up about ¾ of a point since this time last year. However, they are down a bit from the summer when they had a sharp rise. Fixed rate conforming loans (those at 417K or below) are around 4.25%, and the 30 year jumbo loan is at about 4.75%.
