How Have North Shore Home Values Held Up Since 2006?

It has been nearly seven years since the height of the housing bubble and the question I hear  most often is, "How have property values on the North Shore held up in comparison to Chicago as a whole?".  The Chicago Metro area is down 35% from the market high of 2006 through  end of 2011. Referencing housing data from a recent article in the April edition of Chicago Magazine, entitled: Boost Your Home Value , I put together the chart above, tracking the percentage change in single family home values from 2006 through the end of 2011, for the Villages comprising New Trier Township. I was encouraged to see that none of the Villages experienced  a decline in home values to the degree of Chicago as a whole. In addition, home values in Kenilworth were actually up for this period of time, a whopping 43% (however as with any study, the smaller the data to draw from, the greater the chances the numbers can be skewed). So yes, much of the North Shore has experienced  declines in property values, as did 87 % of Chicago suburbs, but at the end of the day, the North Shore fared  better than most. The good news on the horizon is  inventory is down for much of the area.....and if this trend continues, it is a  sign that home values are headed upwards! Interested in learning more about local home values, go to: NewTrierLiving.info .