We now have the Wilmette IL Real Estate market report for July 2016. Today we are going to take a look at how Wilmette Real Estate is doing in the last month through July 14th 2016 as compared to the same time frame, last year.
First the whole market, all types of properties. We have a 9% gain in new listings and 11.7% less closed sales. The good news is that Wilmette has a 7.5% gain in inventory of all types of property combined. Still the sales are booming in Wilmette and shows a great opportunity for buyers and sellers to live in one of my favorite communities. Kids have excellent schools and end up going to New Trier where I graduated in 1976.
As for a look at the single family house situation in Wilmette IL we have a 4.6% gain in new listings, a 7.5% gain in under contract houses but the closed sales are down 24.2% with 50 houses closed through July 14th 2016 as compared with 66 the same time last year. This indicates a lack of inventory and if you are thinking about moving you will be successful if you list your home in Wilmette IL right now. The average sales price is up 6.7% to $912,803 as compared with last year’s $855,385. The average market time is up 58.7% to 100 days as compared with only 63 days last year in the same time frame.
Wilmette IL Real estate does not include many condos. We are seeing a 38.5% gain in new condo listings with 18 hitting the market as compared with only 13 last year at the same time frame. Closed sales are up 63.6% with 18 condos closed this month Last year the number was 11. The average sales price currently is $315,522 and that is a gain of 14% over the previous years $276,682. Average market time for a condo in Wilmette is 76 days and that is slightly higher than last year’s 71 days.
Please call us or check out our site if you are interested. If you have any questions about Wilmette IL, its Real Estate or the community in general we can help.
Understanding your Expectations and Exceeding them