I’m negotiating the purchase of a house in Wilmette priced in the $700Ks. Before I discussed an initial offer with my buyers I researched this North Shore suburb house market. Here are some of my findings.
The median price of a house in Wilmette for the past 12 months is down 3.4% from the previous 12 months.* The number of houses sold is down over 17%. As the graph below shows, the percent change of number of houses sold in various price ranges was down in all prices ranges above $500K. In the $700K range where I’m negotiating, the number of houses sold in the past 12 months is down over 20%.
Even with a down market, the maximum price paid for a house in Wilmette during the past 12 months was $9M! This easily tops the maximum prices of the previous 12 months ($7.25M) and the 12 months before that ($3.22M).
*Based on Midwest Real Estate Data LLC (MRED) Data.
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