We have the Wilmette IL Real Estate market report for August of 2016. We are going to talk about what is going on in the last month and compare this data to the same one month time frame of one year ago. The data is through August 15th 2016 so this is an accurate report if you get to see this soon. Our analogy will help you see what is going on but if you want to see even more, we have a nice chart at the end of this report that you may find useful.
Wilmette Real Estate is red hot and selling fast. There is a shortage of inventory and if you are considering a move you will be successful. Successful in getting a fair market value for your property. Looking at the whole market we see 21.1% less inventory of all properties and 22.8% less closed sales during this one month time frame as compared to the same period of 2015. We have 4.1% less inventory of homes.
As far as Wilmette Real Estate and single family homes we have 21.3% less new listing, we have 63 and last year in July through yesterday we had 80 houses going on the market. Under contract homes are up 19.2% with 31 homes Vs 26 last year at this time. The average sales price for a house in Wilmette is up 6.7% to $949,517 from last year’s $890,159. The average market time is up 68% to 84 days from last year’s 50 days. This due to the continuing increase in value of houses in Wilmette.
Looking at Wilmette IL Real Estate and the condominium scene we have 20% less new listings, and 85.7% under contract condos with 13 units as opposed to 7 last year. There are very few condos in Wilmette IL. The average sales price for a condo in Wilmette is currently $285,880 and last year at this time it was $353,318 a 19.1% decrease in value. The average market time for a condo is currently 92 days and one year ago it was 86 days. That is a 7% gain.
If you have any questions about Wilmette IL Real Estate or the community feel free to give us a call or use access our web site Coldwell Banker Wilmette.
Understanding your Expectations and Exceeding them