WILMETTE REAL ESTATE REPORT - FEBRUARY 2019
14 homes closed in February 2019 in WILMETTE compared to 18 closes in January a year ago.
The median price for homes sold year-to-date this year is $650,000 compared to last year when it was $700,,000.
SOLD HOMES - JANUARY 2019 - WILMETTE
CURRENT SNAPSHOT OF WILMETTE REAL ESTATE
Homes for sale: 185 (up 2 from last month)
Price range: $324,000 to $3,600,000
Under contract: 56
Absorption rate: 6 1/2 months
List price to sell price ratio: 91% (based on year-to-date sales)
February 6 jumbo loan interest rate: 4.125%
February 6 conventional loan interest rate: 4.375%
Foreclosures for sale: 1
The absorption rate at 6 1/2 months is trending toward a buyer’s market. This figure indicates the number of months it would take all Wilmette inventory to sell without any new homes coming on the market.
The median list to sell price ratio of 91% indicates homes are being overpriced. This causes longer sell times and a lower sale price.
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Margaret Goss is a full-time real estate broker since 1998 working in the North Shore communities of Winnetka, Wilmette, Kenilworth, Glencoe, Northfield, Glenview, and Evanston.
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