WILMETTE REAL ESTATE REPORT - JANUARY 2019
12 homes closed in January 2019 in WILMETTE compared to 23 closes in January a year ago. So we’re off to a much slower start - the weather has been mild with the exception of the polar vortex last week.
There is a lot of inventory coming on the market - both newly listed homes but primarily homes that are being relisted after the holidays. The median house price went down slightly from $700,000 to $615,000 (January 2018 vs January 2019.)
SOLD HOMES - JANUARY 2019 - WILMETTE
CURRENT SNAPSHOT OF WILMETTE REAL ESTATE
Homes for sale: 147
Price range: $325,000 to $3,600,000
Under contract: 45
Absorption rate: 5.3 months
List price to sell price ratio: 90%
February 6 jumbo loan interest rate: 4.125%
February 6 conventional loan interest rate: 4.375
Foreclosures for sale: 1
The absorption rate at 5.3 months is a balanced market - neither a buyer or seller’s market. The list to sell price ratio of 90% means sellers need to price their homes more competitively - long list times of overpriced homes means less profit for sellers.
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To CONTACT Margaret Goss, please call 847-977-6024 or email: email@example.com
Margaret Goss is a full-time real estate agent since 1998 servicing the North Shore communities of Winnetka, Wilmette, Kenilworth, Glencoe, Northfield, Glenview, and Evanston.
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