KENILWORTH REAL ESTATE REPORT - FEBRUARY 2019
2 homes closed in February 2019 in KENILWORTH which is an improvement over last year when no homes closed in February.
The median price for homes sold year-to-date this year is $1,290,000 (based on a small total of 4 closed sales.) Last’ years median, also based on just 4 sales, was $1,450,000.
SOLD HOMES - JANUARY 2019 - KENILWORTH
CURRENT SNAPSHOT OF KENILWORTH REAL ESTATE
Homes for sale: 37
Price range: $625,000 to $13,750,000
Under contract: 4
Absorption rate: 9.6 months (a buyer’s market)
List price to sell price ratio: 86% (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:
The absorption rate at 9.6 months is considered a buyer’s market. This figure indicates the number of months it would take all Kenilworth inventory to sell without any new homes coming on the market and buyers have the advantage right now.
The median list to sell price ratio of 86% indicates homes are being overpriced. This causes longer days on market and eventually, 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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