Naperville vs. Hinsdale (Chicago, Elmhurst, Wilmette: houses, buyer, public schools)

[damba]

Originally Posted by strawflower

Looking at price history, I’m noticing that many (maybe even most) homes in Hinsdale past a certain price, $700K or so, have LOST value in the past 10-20 years. In some cases, a lot of value. Or have appreciated like, 8% in 20 years. What’s up with that?

Hinsdale isn’t the only suburb where that happened.

[Hiruko]

Originally Posted by strawflower

Looking at price history, I’m noticing that many (maybe even most) homes in Hinsdale past a certain price, $700K or so, have LOST value in the past 10-20 years. In some cases, a lot of value. Or have appreciated like, 8% in 20 years. What’s up with that?

It's called supply and demand. Illinois is neither enjoying a large influx of residents nor rapid economic growth. Home values in suburban Chicago have taken a hit, and the luxury market has been particularly vulnerable as tastes have gravitated to more urban environments and inner-ring suburbs.

[JJski]

i still consider Hinsdale inner ring... for me evanston is also inner ring... but these are the edges IMO...

[RJA29]

Originally Posted by strawflower

Looking at price history, I’m noticing that many (maybe even most) homes in Hinsdale past a certain price, $700K or so, have LOST value in the past 10-20 years. In some cases, a lot of value. Or have appreciated like, 8% in 20 years. What’s up with that?

Micro-location is also _very_ important here. What is it about he specific house that has declined or increased in price? There is a lot down my block that is on the market for ~$220K, and another one up the block that went for nearly $380K. The difference is frontage and lot size. Same thing for homes - some that are in the same school district, but near a newly built auto mall are selling for 25% less than very similar homes.

[JJski]

Totally agreed with RJA29 (Hinsdale also has a very big footprint) i bet if you took a more surgical/micro location analysis (near downtown or near station) the numbers would look much different...

[chet everett]

Currently the smallest unit of public data that is available for repeat sales data is for 5 digit zip, but they might work on census tract level info -- https://public.tableau.com/shared/72...play_count=yes


https://www.fhfa.gov/PolicyProgramsR..._ZIP5_HPIs.pdf


When comparing across different towns there are just too many factors beyond "price and micro-ocation" such as the mix of homes with certainly numbers of bedrooms / baths, home built in specific era, homes with certain sized lots and dozens of other characteristics that make it all but impossible to really say that are pattern is truly due to only two factors...

[Justabystander]

Originally Posted by Hiruko

Naperville is absolutely more diverse than Hinsdale. Are you serious?

Hinsdale is significantly more conservative and was one of a handful of affluent suburban communities that opted for Trump in 2016. I would not describe it as socially conservative, however. It has less of a country club mentality than the North Shore, but it's still pretty insular. Hinsdalians think quite highly of themselves, in my experience. Evanstonians too, so who am I to judge? Wealthy DuPage is more politically conservative than the North Shore, period.

NYT: An Extremely Detailed Map of the 2016 Presidential Election

As a guy from Hinsdale, it seems wierd for a guy from the North Shore sizing us up. I am definitely socially liberal, financially conservative, and I guess that my blue part of town on your map shows that. Many people I know here are socially liberal, and far from Trump fans. I don't think that people from Hinsdale think all that highly of themselves, but like where they live.

As for the comment that prices here have taken a hit in the 700k and up bracket, I would say that it is hit or miss, and most well located homes have not. I would say that if there were stragglers that were well priced and well located, they became teardowns. The makeup of my neighborhood over the time i have lived here has changed quite a bit; older substantial homes have been torn down to become newer more substantial homes, which actually seems to have a dragging effect on the prices of the remaining older homes that are left.

I think prices in Hinsdale have held up better than the North Shore; luxury homes in the suburbs in general haven't had the appreciation that they have had in the past.

[Hiruko]

Originally Posted by Justabystander

As a guy from Hinsdale, it seems wierd for a guy from the North Shore sizing us up. I am definitely socially liberal, financially conservative, and I guess that my blue part of town on your map shows that. Many people I know here are socially liberal, and far from Trump fans. I don't think that people from Hinsdale think all that highly of themselves, but like where they live.

As for the comment that prices here have taken a hit in the 700k and up bracket, I would say that it is hit or miss, and most well located homes have not. I would say that if there were stragglers that were well priced and well located, they became teardowns. The makeup of my neighborhood over the time i have lived here has changed quite a bit; older substantial homes have been torn down to become newer more substantial homes, which actually seems to have a dragging effect on the prices of the remaining older homes that are left.

I think prices in Hinsdale have held up better than the North Shore; luxury homes in the suburbs in general haven't had the appreciation that they have had in the past.

You have a tiny Land Rover dealership, but the staff there is very nice. They are good at selling their ridiculously glitchy and unreliable cars.

[deeman7]

Originally Posted by Justabystander

As a guy from Hinsdale, it seems wierd for a guy from the North Shore sizing us up. I am definitely socially liberal, financially conservative, and I guess that my blue part of town on your map shows that. Many people I know here are socially liberal, and far from Trump fans. I don't think that people from Hinsdale think all that highly of themselves, but like where they live.

As for the comment that prices here have taken a hit in the 700k and up bracket, I would say that it is hit or miss, and most well located homes have not. I would say that if there were stragglers that were well priced and well located, they became teardowns. The makeup of my neighborhood over the time i have lived here has changed quite a bit; older substantial homes have been torn down to become newer more substantial homes, which actually seems to have a dragging effect on the prices of the remaining older homes that are left.

I think prices in Hinsdale have held up better than the North Shore; luxury homes in the suburbs in general haven't had the appreciation that they have had in the past.

I couldn't roll my eyes enough at that post from Haiku.

[Hiruko]

Originally Posted by deeman7

I couldn't roll my eyes enough at that post from Haiku.

Dim lit eyes
a veil of heavy clouds
block the sunlight