WINNETKA-GLENCOE, IL — More homes sold last year in Winnetka or Glencoe than than at any time in the past three decades, with seven homes sold for $5 million or more, according to real estate data.
In December 2020, the median closing price of homes was $1.1 million in Winnetka and $1.2 million in Glencoe, according to Realtor.com data. The average Winnetka home sold last month spent 96 days on the market, with Glencoe houses selling in an average of 89 days.
According to the North Shore-Barrington Association of Realtors, more units were sold in Winnetka in 2020 than in any year since 1989, while more Glencoe homes were sold last year than any in at least the past 30 years.
A total of 321 residential units in Winnetka changed hands last year, up from 321 the prior year. In Glencoe, the number of homes sold in 2020 increased by 27.5 percent to 204.
Area realtors say buyers have been moving from Chicago — especially high-rises — to the north suburbs in search of more room and an increased sense of safety, according to North Shore-Barrington Association of Realtors CEO Jeff Lesky.
“They want to have space between themselves and their neighbors. They want to have space to build their home theater. They want to have space to have their home office. Stuff like that, which was not an issue, a year ago,” Lesky said.
As buyers and sellers shunned in-person visits, the pandemic accelerated ongoing trends toward online shopping for real estate, with livestreamed virtual tours and fully electronic document signing now commonplace.
“The necessity of doing the shopping by driving people around to 10, 12, 15 different places is long gone,” Lesky said. “But you can even conduct the financing process, conduct the signing of closing documents, everything else, and take ownership of the home — without having to go somewhere to do it.”
Lesky said a combination of high demand driven by low interest rates and a low supply of available homes has made for a highly competitive market across the North Shore.
“If you’re going to go out there and sell your home and it’s priced correctly, you’re going to get a number of offers,” he said. “You’re going to get a lot of action quickly.”
Most Expensive Homes Sold In 2020
Winnetka’s most expensive home sale of the year appears to have been a portion of what could be the priciest purchase in North Shore history.
A mystery buyer is set to spend a combined $23.9 million to purchase a trio of properties — $9.5 million for 203 Sheridan Road in October, $8.2 million for 209 Sheridan Road in July and a parcel at 261 Sheridan Road between Centennial and Elder Lane Park and set to be purchased for $6.2 million.
Plans to create a 3.3-acre parcel with a subdivision via a land swap with the Winnetka Park District are underway to allow the two parks to be connected by trading 261 Sheridan for 0.7 acres of the south side of Centennial Park.
According to the Chicago Tribune, village officials have agreed to maintain the anonymity of the owner of what would amount to the most expensive home sale in the history of the Chicago area — without adjusting for inflation — even before the home is built.
Read more: Here Are The 3 Most Expensive Winnetka Home Sales Of 2020 So Far
In Glencoe, the most expensive home sold in 2020 was the $4.1 million purchase of a six-bedroom, 8,600-square-foot brick home built in 2005 at 434 Greenleaf Ave. The Sept. 30 sale has yet to be recorded with the county.