We have the Skokie IL Real Estate market report for March of 2016. The news for Skokie is really amazing on all fronts. Let me tell you about it. We see a 47.1% gain in new listings of all types of properties, for this period as compared to last year at this time. There is 33.3% less closed sales and 3.4% less inventory. This is a temporary situation, we expect a very busy Spring Real Estate market, things just continued through the winter last year and we got slightly oversold. Coldwell Banker Skokie predicts this will change very soon.
To break it down a bit for Skokie single family homes, we have 58.8% more new listings this month and 16.7% more properties under contract. Skokie is seeing a 58.8% gain in closed sales in this period as compared to last year at this time and the average sales price is up 13% to $305,000 from $279,000 last year at the same time. The average market time has gone up to 119 days, was 114 days this time in 2015.
Looking at Skokie condos we have 29.4% less new listings and 8.7% more properties under contract. Skokie has 10.5% more closed sales of condo and the average sales price is up a whopping 87.1% to $215,421, last year at this time it was $115,147. The average market time is up 23.4% to 95 days from 77 days in this time frame last year. It is a great opportunity to sell a condo in Skokie IL.
If you want to find out more about the Skokie IL real estate scene give us a call and we can answer any of your questions.
Coldwell Banker Skokie (800) 858-7917.