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.
ABOUT THE AUTHOR
Fran Bailey shows, previews and tracks downtown Chicago homes for sale giving her the insights needed to help her clients negotiate the best price and terms. Fran has been quoted in numerous Chicago and national publications. To schedule showings of listings regardless of broker or to contact Fran email her at fran.bailey@bairdwarner.com or call 773.793.4516. Learn More
Fran Bailey, Realtor
