The Skokie IL April 2016 Real Estate Market report is in and new listings for single family homes are down 6.8% from this time exactly one year ago. in March of 2015 Skokie IL had 103 new homes for sale, now the figure is at 96, a slight change. Under contract properties are up 32.6% to 57 houses under contract or pending from 43 properties last year. The average sales price for a single family house in Skokie IL is up 15.9% to $352,016, last year at this time the figure was $303,719. Average market time for a home to go under contract in Skokie is down 31.8% from 110 days on the market to now in March of 2016 at 75 days.
Regarding the stats for Condominiums in Skokie IL shows 10.9% less new listings, in March of 2015 we had 46 new condos hit the market, this March there were 41 new properties listed. Closed sales of condos is down 38.5% in March of 2016 to 16 properties and at this time in 2015, 26 condos closed. what is interesting is that the average sales price for condos is up 41.6% from $157,374 condos to now we are at $222,845. Time on the market before a contract is down 10.8% from 93 days to presently 83 days.
If you look at combined stats the change in new listings of all properties is down 8.1%, closed sales is down 19.4% and the inventory for all properties is down 10.2%. There are great opportunities in Skokie IL for great deals so if you are interested in Skokie properties, keep an eye on the real estate situation.
If you have questions about Skokie and the steps involved to purchase property please feel free to contact us at Coldwell Banker Skokie. We can answer any questions you may have and set up a customized search customized to your specifications. If you are considering a sale in Skokie we will create a comparative market analysis to determine your properties value.
Coldwell Banker Skokie (800) 858-7917