Harper School Neighborhood, Quarterly Market Update, for local data and key insights to assist you in the buying and selling real estate process. Plus read on for seasonal trends and discover lifestyle tips to enjoy all that Fall has to offer!
SPRING QUARTERLY NEWSLETTER
CONTACT US: 847.682.7321 deleo.omalley@compass.com
FOLLOW US: lydiaandjane_compass
COMPASS:
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CONTENTS TABLE OF
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Pioneering Environmental Change Beth Drucker, Go Green's visionary founder, whose profound commitment to enhancing environmental consciousness enriches our community and sets a global example.
Team Letter
06 Home Sustainability Initiatives Ideas on ways you can make your home more sustainable and contribute to a healthier home environment. Overview of this quarter's newsletter content with an emphasis on sustainability and ways we can be better stewards of our local environment.
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How's The Market
A recap on today's market, along with hyper-local data points focusing on recent neighborhood activity. 10 Whether buying or selling in Wilmette or beyond, our expertise, with over 25 years of experience and $100M in sales, positions us to guide your real estate journey to success
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Neighborhood Sales Your Local Resource
Sharing the most recent neighborhood sales for the past quarter, to keep you up to date with the latest activity in our local real estate market.
HELLO SPRING!
Greetings and welcome to the spring edition of our quarterly real estate newsletter! Springtime naturally evokes thoughts of stepping outside to enjoy the increasingly warm weather and the beauty that surrounds us. With Earth Day approaching on April 22nd, it seems particularly fitting to turn our attention towards the vital importance of environmental preservation and sustainability. This issue of our newsletter is thus devoted to exploring sustainability, offering insights into how we can enhance our homes and daily lives to be more environmentally friendly. We are pleased to share our recent conversation with Beth Drucker, the founder and president of Go Green Wilmette. Beth's remarkable efforts in fostering environmental awareness within our community and beyond have been truly inspirational, and we're honored to feature her in this quarter’s newsletter.
In addition to spotlighting sustainability, our newsletter is packed with the latest insights into the housing market, which remains exceptionally vibrant. Properties are being snapped up at an unprecedented pace, commanding record-breaking prices, and the momentum shows no signs of waning. If you're contemplating a move in 2024, this issue provides compelling data that this spring could be the opportune time to sell. Should you have any inquiries about the market, or if you're curious about the potential value of your home, we invite you to reach out. We're here to be your trusted local resource for all things real estate. Here's to a Splendid Spring Season! Lydia & Jane
Meet Beth Drucker
L&J: We understand that there is a birding event as well. Can you let us know more about it? Beth: Wilmette’s Gillson Park is the second best place in Chicagoland for birding during migration season. Birders, from all over will, will congregate in Gillson Park and see these birds all over the park You will see some beautiful birds that only travel through Wilmette while others stay through summer. I don’t believe that local residents realize what an amazing opportunity we have here. In partnership with the Park District, we provide guided bird walks every Sunday at 8 am during migration season, late April - late May. We invite everyone to join! “Truly, the takeaway is all hands on deck. Everyone should take a more active role in sustainability.” Beth: Continued A few other well attended events include the solar tour, EV car show, beach clean ups and habitat restoration work.
GO GREEN WILMETTE
Founder and President
L&J: What inspired you to start Go Green Wilmette? Beth: I’ve been involved with environmental issues for a long time. During my travels, I saw issues everywhere and I realized there is a lot I could do right here. In 2005, I joined with others to start a group and we discovered other communities of people wanted to do this work too. We are part of a much larger network of 30- 40 suburbs. L&J: What are your programs to promote awareness in the community? Beth: Our website has many resources and a bi- monthly newsletter. The annual sustainable yard tour held in July is very popular. Here you will learn about native plants, composting, rainwater solutions and providing habitats for birds and insects.
L&J: What are sustainable practices that you would recommend? Beth: I always encourage people to take a first step. Go with an area that you are interested in and pursue it.
“Be a Green Ambassador, showing people within your home and community how everyday activites really impact the environment.” Beth: Continued... Maybe it’s gardening and reducing chemical use and adding native plants. It could be about cars and energy- possibly looking into an electric or hybrid car. Another option is considering solar panels or adding energy efficiency to your home. Even what you eat makes a big difference. L&J: We know plastic is a major issue. Beth: A globally serious issue is that of plastic pollution. Countries all over the world need to reduce the use of plastic and we can all be part of the solution. Using reusable tote bags, never using plastic takeout containers when leaving a restaurant
www.gogreenwilmette.org
Beth: Continued.. . you can provide your own- are ideas we can incorporate in our own lives. Our choices contribute to the plastic issue and our activites can reduce the problem. L&J: Do you need to be a member or can you volunteer? Beth: We are a big and open tent and you don’t have to be a member. Anyone who receives our newsletter is essentially a member. We want everyone to be part of the movement. Attend an event, there are many including a monthly coffee and it’s so great to see all the different people that show up. L&J: Is there anything else you would like to add? Beth: We work with a number of students - from elementary school green teams to high school. Also, we have summer interns that range from high school through post college graduates. The more we can help students and young people be part of the solution, that’s really important to us.
For The Full Interview:
There are many ways to boost sustainability, minimize waste and reduce our harm to the environment. Often these can be done right in your home while helping the planet at the same time. Applying basic personal conservation efforts in your everyday life can be very simple. Many of these actions can reduce both our carbon footprint and our living expenses. By incorporating these practices, and many others, you will contribute to a healthier environment for yourself and the planet. Making even small changes in your home and lifestyle can have a huge impact on environmental sustainability. Homeowners can follow these green tips to start making progress on their sustainable homes. Eco-Friendly Tips for a Sustainable Home
03 Swap Out Toxic Cleaning Products Many cleaning products contain toxic chemicals that damage our ecosystem and health. Unfortunately, many of these products are advertised as “green.” There are many choices available for cleaning products that are nontoxic and eco-friendly. The United States has banned far fewer chemicals than many European countries, so Americans must be selective when choosing products. Look for cleaning products in sustainable, biodegradable packaging and without harsh additives.
01 Reuse and Replace Plastics Reusing single-use plastics and reducing overall plastic use significantly impacts the environment. Opting for reusable metal utensils and natural material straws, especially bamboo, due to its renewability and biodegradability, cuts down on waste that could end up in landfills or oceans. 02 Level Up to a Programmable Thermostat A programmable thermostat can automatically adjust your home's temperature at different times of the day, potentially saving you up to 10% annually on heating and cooling by setting it 7-10 degrees from its usual for 8 hours daily, as recommended by Energy.gov.
04 Use the Cold Water Setting to Wash Your Clothes Save energy by washing your clothes in cold water. When you wash with hot water, your washing machine requires 75% more energy to heat the water. You can also save your clothes by using cold water. Hot water can cause colors to fade. Cold water keeps colors from bleeding.
07 Reevaluate Your Home’s Insulation If you’re constantly turning the heat up in the winter or the air up in the summer, consider beefing up your insulation. In many houses, especially older ones, there are little cracks and holes we can’t see. Heat and cool air easily escape through these holes and run up your energy bills. You’d be amazed at how much energy you can conserve when you insulate your attic. If your home has a hard time staying warm, your heat could be escaping through your attic. Having a well-insulated attic will help keep your house warm in the winter and cool in the summer. 06 Upgrade to LED Light Bulbs Energy-efficient light bulbs use up to 75% less energy than traditional incandescent bulbs and can last up to 25 times longer. Swapping out light bulbs is an easy and quick thing to do throughout your house that can help you save big on your energy bill. 05 Unplug “Vampire” Electronics Unplug anything you’re not using, even if it's turned off. A plugged-in appliance or electronic is still drawing energy from the outlet. All the devices you keep plugged in can quickly increase energy use and inflate your energy costs.
08 Conserve Water
We can all make small changes to help save water. It can be as simple as turning off the faucet while you brush your teeth or scrub your dishes, taking shorter showers or only running the dishwasher or clothes washer when you have full loads. Another good idea is to fix a leaky faucet. According to EPA.gov, a leaky faucet dripping one drop per second can waste more than 3,000 gallons of water a year. That’s enough water for more than 180 showers.
09 Upgrade Your Windows
Heating and cooling your home uses a lot of energy throughout the year—and old windows can be a significant contributor to your energy demands. According to the U.S. Dept. of Energy, about 25% of home energy is wasted through windows. The good news is that an effective way to cut down on that waste is by upgrading to dual-paned windows that are properly sealed.
Source: Rockethomes.com 21 Eco-Friendly Tips For a Sustainable Home By Jeannette Baum 5/23/2023
Remember the days interest rates were well below 4% and hovered in that direction for years. As real estate professionals we consistently advised our clients on the temporary nature of these exceptionally low rates, emphasizing that the opportune moment to purchase was then. Unfortunately, this advice often went unheeded. Fast forward to 2022, and we witnessed the Federal Reserve enact 11 rate hikes, transitioning from a near-historical low of 0.08% to an astounding 5.33%—a peak not seen in over two decades. This brings us to a current and similarly critical juncture in the housing market, characterized by significantly low inventory levels. The availability of homes for sale in Wilmette, has sharply decreased from a robust six months' supply in June of 2019 to a mere 1.1 months today. On a It’s A Seller’s Market
brighter note, home-owners have seen a substantial increase in home values, surging by 37% since the onset of COVID-19. Highlighting this trend, the median home price in Wilmette has reached a historic 1 million marker, a significant rise from the $575,000 median in July 2012. Although we anticipate a gradual increase in inventory, not expected to mirror the rapid rise in interest rates, this shift suggests a transition from double-digit to single-digit appreciation rates. Nonetheless, sellers are poised to benefit greatly in the current market dynamics, maintaining leverage as inventory levels slowly align with demand. Home values are projected to continue their ascent, albeit at a tempered pace compared to the rapid growth of the previous years.
Q1 Single Family Data Points
WILMETTE
MCKENZIE Median Price
Median Price $999,500
$997,500
(+9.2% YOY)
(+17.4% YOY)
Original List to Close (+0.6% YOY) 101.7 Median Price Per SQFT $368 Months Supply (+7.6% YOY)
102.8 Original List to Close (+0.7% YOY)
Median Price Per SQFT
$401 (+9.6% YOY)
Months Supply 0.6 (-50% YOY)
1.1
(-8.3% YOY)
Median Days on Market
Median Days on Market
7 (0.0% YOY)
8
(+33.3% YOY)
Data Source: MRED As of 3/24
Recent Neighborhood Sales
315 16th St. 4 BD · 2.1 BA $1,185,000 Lot Dim:45X138 Garage: 2 Year Built: 1923 1928 Central Ave 3 BD · 1.1 BA $655,100 Lot Dim:50X132 Garage: 1 Year Built: 1941 Unlocking Potential Home Equity 1322 Central Ave 4 BD · 2.1 BA $1,210,000 Lot Dim:50X150 Garage: 2 Year Built: 1912
By Ryan Skaggs VP Mortgage Lending
Home Renovations: Investing in renovations can increase your home's value and improve your living environment. Whether it's updating your kitchen or patio, leveraging your home equity can provide the necessary funds to turn your renovation dreams into reality. Strategic upgrades can offer significant returns, especially in the North Shore's thriving housing market. In conclusion, North Shore homeowners with significant equity have a precious asset for financial opportunities and personal growth. Whether for real estate investments, education funding, debt consolidation, or home improvements, your home equity is a pivotal part of your financial strategy.
Today, I want to discuss the sig- nificant benefits of home equity for North Shore home owners. Congrat- ulations to those who've built sub- stantial equity in their homes. This
Investing in Real Estate: Utilizing home equity to finance investment property can diversify your portfolio, generate rental income and enhance wealth through appreciation. With the North Shore's thriving real estate market, this could be a strategic move to capitalize on the region's demand for rental properties. Funding Education Expenses: For many North Shore families, education is a top priority. Home equity can provide competitive financing options for education costs, from tuition fees to advanced degrees, without jeopardizing financial stability or selling assets. Consolidating Debt: For those facing high- interest debts, leveraging home equity for consolidation can simplify finances, reduce interest costs, and quicken the path to a debt- free life, possibly with tax benefits. 7 6 asset can unlock financial opportunities, and aid in achieving savings and retirement goals.
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Looking to Move Out of the Area? Navigating today’s real estate market requires a blend of local savvy and national reach. As part of Compass, the nation's premier brokerage, we're not just local experts; we're part of a comprehensive network of over 29,000 skilled agents across the U.S. This affiliation empowers us to serve you beyond our local market.
Should you consider moving out of the area, we can seamlessly connect you with a highly proficient agent in any of our many offices nationwide. Our commitment is to ensure you receive the highest level of expertise and support, no matter where your real estate journey takes you. Leveraging our extensive network, we're here to make every transition as smooth and successful as possible.
Charelston, SC
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We’ve Helped Numerous Clients Make Their Move in Wilmette
With over 25 years of combined experience and exceeding $100M in sales, we've adeptly assisted numerous clients to realize their real estate dreams. We are proud to call Wilmette home, where our deep-rooted understanding of each neighborhood's unique appeal has elevated us into the top 5% of Realtors on Chicago’s North Shore. This distinction, awarded by our local MLS board for our outstanding sales volume, underscores our commitment to excellence and client satisfaction. Whether you're in the market to buy, sell, or both, our extensive expertise and broad national network make us the quintessential partners in your real estate journey. Let us be your compass, turning your real estate goals into reality with precision and care. Top 5% Realtors® on Chicago’s North Shore
5% REALTOR SALES RANKING 25YRs EXPERIENCE 100M+ IN SALES
847.682.7321 | deleo.omalley@compass.com | lydiaandjane.com
WE MARKET YOUR HOME FOR ALL IT’S WORTH
DeLeo & O’Malley Group is a Real Estate broker affiliated with Compass. Compass is a licensed Real Estate broker with a principal office in Chicago, IL and abides by all applicable Equal Housing Opportunity laws. All material presented herein is intended for informational purposes only, is compiled from sources deemed reliable but is subject to errors, omissions, and changes without notice. All measurements and square footages are approximate. This is not intended to solicit property already listed. Nothing herein shall be construed as legal, accounting or other professional advice outside the realm of Real Estate brokerage.
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