Wilmette, IL Real Estate News

By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
What exactly is an absorption rate?  Apparently, other industries have used this metric for decades but real estate is just catching up.  It's a good tool to understand home market inventory and the rate of sale.Briefly, absorption rates means the rate at which a market absorbs or uses up inventory.  It assumes that no new inventory comes on or leaves the market, so it's like a snapshot of what is happening today.So for today, the last day of May 2016, here is what the absorption rate is for zip codes 60093 (Winnetka & Northfield), Wilmette 60091, Kenilworth 60043, and Glencoe 60022 for the past 12 months.    The current absorption rates are:Winnetka/Northfield:  11.1 monthsWilmette:  5.3 monthsKenilworth:  19.4 monthsGlencoe:  9.5 monthsTo further explain this, here is the chart we use...
Comments 2
By Noah Seidenberg, Chicagoland and Suburbs (800) 858-7917
(Coldwell Banker)
Wilmette IL homes are some of the nicest in the Chicago North Shore. You will find tree lined, cobble stone streets in Beautiful cute neighborhoods where it is quiet and so desirable to live. It is no wonder this is such a popular community to call home.  On Sunday we took a long walk through Wilmette IL and I could not help notice the great selection of Wilmette homes. The kids growing up in Wilmette get the finest education. Most of the Elementary, middle and junior high schools in town got a 10 on Great Schools. The high school is New Trier East and is rated as one of the best in the country. With excellent college prep courses your child will be well prepared to enter the academic community. Youngsters will not be bored either, the beaches and pool open on May 28 for the season. Gil...
Comments 19
By Noah Seidenberg, Chicagoland and Suburbs (800) 858-7917
(Coldwell Banker)
The Wilmette IL Real Estate scene is really active as we see the market report for the month of April of 2016 as compared to 2015. Wilmette IL has a 55.3% change in closed sales of all property types and a 11.7% change in inventory of homes and condos. The Spring Real Estate market really went into full swing this month. To break it down further we have 7% less new listing of single family homes, 93 in April of 2016 and exactly 100 last year at this time. Under contract house sales are 15.1% less this month with 45 homes going under contract, April of 2015 had 53 properties. Closed sales for the month are up 63.3% at 49 properties, April of 2015 saw 30. The average sales price for a single family home in Wilmette is up 3.4% this month to $845,942 from $818,417. Interestingly the average...
Comments 10
By Art Wilson, Realtor - Chicago's North Shore
(Coldwell Banker Residential Brokerage)
By Art Wilson, RealtorWilmette's April Property sales were 51, up 34.2% from 38 in April of 2015 and 112.5% higher than the 24 sales last month. April 2016 sales were at their highest level compared to April of 2015 and 2014. April YTD sales of 127 are running 23.3% ahead of last year's year-to-date sales of 103. The Median Sales Price in April was $709,000, up 8.2% from $655,000 in April of 2015 and up 11.7% from $635,000 last month. The Average Sales Price in April was $786,317, up 9.8% from $715,934 in April of 2015 and down -8.4% from $858,479 last month. April 2016 ASP was at highest level compared to April of 2015 and 2014. The Total Inventory of Properties available for sale as of April was 198, up 5.3% from 188 last month and up 6.5% from 186 in April of last year. April 2016 In...
Comments 0
By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
At the pace of new construction happening on the North Shore (after the recession hiatus) builders will have to repeat the cycle and tear down their original homes!  Clearly it's not that bad (or good, depending on whom you are talking to) but the pace is frenetic.In Winnetka, 33 homes have been approved for demolition since December of 2014, and two more are waiting.  Wilmette's website does not provide this information, but the number of new homes being built there has soared since late 2014 as you can see in this chart:  Winnetka (blue), Glencoe (purple), and Kenilworth (orange) have all been fairly steady over the years for the number of new homes being built.  But look at the Wilmette line (red) which takes a huge jump up as 2015 nears.  New construction homes in Wilmette are being...
Comments 0
By Noah Seidenberg, Chicagoland and Suburbs (800) 858-7917
(Coldwell Banker)
We closed Wednesday on 1829 Wilmette Ave #C Wilmette IL 60091 a townhouse with 3 bedrooms and a 4th in the basement and four and a half bathrooms with a two car attached garage. The property was listed for $549,000 and my buyer clients, a couple are very happy. This is the second sale I have done for these folks, six years ago I sold them a condo in Evanston IL and good times let them move to this fantastic new home. This is a very desired end unit townhome, the best in the complex of 9 properties and this one, unit # "C" was the developers property when constructed in 1997. We got the contract signed, sealed, delivered in 15 days after it hit the market and had we not done so it would have been gone in another day. It is a sellers market and the services of a buyers agent are really ne...
Comments 21
By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
UPDATED 2019 WILMETTE CO-OP BUILDINGS  Cooperative living is rare on the North Shore - there are, in fact, only three buildings in the area that are co-ops and all three are in Wilmette.Two are located along Sheridan Road on the lake across from Plaza del Lago, and the third is near Linden Square near the "L" station.Essentially, a cooperative building differs from a condominium in that unit owners own shares in the cooperation and do not actually own their units in the traditional sense.  This "corporation" (which is made up of all the unit owners) owns the entire building.  One important fact to know is that the monthly assessments look very high - this is because they include the property taxes.  For a more complete description of how cooperatives operate, please see:  What's a Housi...
Comments 2
By Noah Seidenberg, Chicagoland and Suburbs (800) 858-7917
(Coldwell Banker)
The Wilmette IL Real Estate report for April is out and the stats are a bit lower than last year at this time. 2015 was a booming market but at this time we have 13.5% less new listings of all types of property, this includes single family homes as well as condos. This reporting period shows 17.2% less closed sales and a 22.4% gain in inventory of all types of property. New property listings for single family homes are down 18.2% from 88 last year at this time to 72 this month. Closed sales are down in March from 24 single family homes in Wilmette to 20 houses that is 16.7 less and the average sales price for a home in Wilmette IL is down 21.3% to $960,600 from $1,219,841 a year ago. A great home buying opportunity to move to wonderful Wilmette IL is available at this time. The average ...
Comments 17
By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
UPDATED 2019 WILMETTE IL ELEMENTARY SCHOOLS  There are 2 school districts in Wilmette IL - District 39 and District 37.In District 39 there are four elementary schools (K-4th grade), then all students attend middle school at Highcrest, and Wilmette Junior High. All Wilmette students attend New Trier High School. In District 37, children attend Avoca Elementary School (K-5th grade), and Marie Murphy (grades 6th-8th grades.) Students then proceed to New Trier High School. There are four elementary schools in District 39 in Wilmette, IL that educate children from kindergarten to 4th grade. Going east to west, they are:Central School Wilmette IL  - 910 Central Ave. McKenzie School Wilmette IL - 649 Prairie Ave.Harper School Wilmette IL - 1101 DartmouthRomona School Wilmette - 600 Romona Rd....
Comments 0
By Art Wilson, Realtor - Chicago's North Shore
(Coldwell Banker Residential Brokerage)
By Art Wilson, RealtorWilmette's March Property sales were 24, down -17.2% from 29 in March of 2015 and -4.0% lower than the 25 sales last month. March 2016 sales were at their lowest level compared to March of 2015 and 2014. March YTD sales of 76 are running 16.9% ahead of last year's year-to-date sales of 65. The Median Sales Price in March was $635,000, down -20.1% from $795,000 in March of 2015 and up 26.4% from $502,200 last month. The Average Sales Price in March was $858,479, down -19.7% from $1,069,351 in March of 2015 and up 31.8% from $651,128 last month. March 2016 ASP was at a mid range compared to March of 2015 and 2014. The Total Inventory of Properties available for sale as of March was 188, up 10.6% from 170 last month and up 19.0% from 158 in March of last year. March 2...
Comments 0
By Noah Seidenberg, Chicagoland and Suburbs (800) 858-7917
(Coldwell Banker)
Wilmette, Illinois is a nice North Shore community, about 14 miles from downtown Chicago. It is located in Cook County and was honored by Business Week in 2007 as one of the top ten best places to raise children in the country. It is just north of the town of Evanston and is on the shores of Lake Michigan. The successful school system in Wilmette is another reason that Wilmette IL homes for sale are desirable.Wilmette is known for having a variety of public services, which is another appealing factor for Wilmette IL homes for sale. The park system includes Gillson Park, Langdon Beach and Centennial Park, which have beach access and various other amenities like tennis courts. Wilmette is also the home of the Baháí  House of Worship, listed by the Tourism Bureau as one of the Seven Wonder...
Comments 22
By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
 The first quarter is behind us and Wilmette's real estate statistics are not as strong as last year.   The average sale price for first quarter of 2016 is down by 15% - however total sales are up by 18%. Market time is a around three months which indicates a seller's market - which is in contrast to the lower prices.  The list price to sell price ratio is at 93% of original asking price.Currently, the Wilmette real estate market looks like this:Total homes for sale:  150Lease expensive:  $290,000Most expensive:  $10,900,000Homes under contract:  70 (with contingencies)Homes pending:  1 (contingencies met)It will be a busy spring, however.  Nineteen new listngs came on the market in the past five days!
Comments 1
By Noah Seidenberg, Chicagoland and Suburbs (800) 858-7917
(Coldwell Banker)
Wilmette, Illinois is a desired North Shore community, about 14 miles from downtown Chicago. It is located in Cook County and was honored by Business Week in 2007 as one of the top ten best places to raise children in the country. It is just north of the town of Evanston and is on the shores of Lake Michigan. The successful school system in Wilmette is another reason that Wilmette IL homes for sale are desirable.Click Wilmette IL Homes for the latest inventory.Wilmette is known for having a variety of public services, which is another appealing factor for Wilmette IL homes for sale. The park system includes Gillson Park, Langdon Beach and Centennial Park, which have beach access and various other amenities like tennis courts. Wilmette is also the home of the Bahá’í House of Worship, lis...
Comments 14
By Noah Seidenberg, Chicagoland and Suburbs (800) 858-7917
(Coldwell Banker)
The Wilmette Real Estate report for March 2016 has just come in and is very positive. The numbers are really surprising and shows how popular Wilmette IL real estate is these days. People really love Wilmette and the Spring market is booming a little early. We are seeing a 33.8% gain in new listings for all properties and a 31.6% gain in closed sales. A good bit of information is that Wilmette has a 25.7% gain of inventory of homes, that includes all types of property. People are putting their homes on the market if they want to sell and they are successful in selling them.Click Wilmette Houses for sale and Wilmette Condos for sale for the latest inventory direct from the Multiple Listing Service (MLS).Taking a look at single family homes. Wilmette has a 23.8% gain in new listings and a...
Comments 19
By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
2616 Wilmette Ave, Wilmette ILOpen 1-3Sunday, March 13$484,000 Don't miss this roomy 3-bedroom, 2-bath ranch home in Romona and New Trier School district! 
Comments 4
By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
"Sustainable Suburbs" is the theme for this year's annual Going Green Matters Environmental Fair.  The environmental fair plans to answer that question through exhibits and demonstrations throughout the afternoon.  Some ideas they give on their website are: LED lighting Energy-efficient homes Insulation and weatherproofing Solar reflective shingles Natural yards and habitat Parks and open spaces Storm water management Water conservation Waste reduction and recycling I was excited to hear that over 1,000 people attended last year's event.  But that shouldn't be surprise given the breadth of programs and information they have for the public.  There will be hybrid and electric cars on display, home energy exhibits, demonstrations, recycling, and an interactive "Eco-Zone."Here is the day's ...
Comments 1
By Art Wilson, Realtor - Chicago's North Shore
(Coldwell Banker Residential Brokerage)
By Art Wilson, RealtorWilmette's February Property sales were 25, up 31.6% from 19 in February of 2015 and -7.4% lower than the 27 sales last month. February 2016 sales were at their highest level compared to February of 2015 and 2014. February YTD sales of 52 are running 44.4% ahead of last year's year-to-date sales of 36. The Median Sales Price in February was $502,200, up 25.2% from $401,000 in February of 2015 and down -11.1% from $565,000 last month. The Average Sales Price in February was $651,128, down -20.8% from $822,053 in February of 2015 and down -10.6% from $728,450 last month. February 2016 ASP was at a mid range compared to February of 2015 and 2014. The Total Inventory of Properties available for sale as of February was 163, up 6.5% from 153 last month and up 23.5% from ...
Comments 1
By Noah Seidenberg, Chicagoland and Suburbs (800) 858-7917
(Coldwell Banker)
The Pin Oak area is off Wilmette Avenue and close to the cross street of Ridge Road and Wilmette Avenue. It’s just north of one of Wilmette’s many parks in Lovelace Park. There are a variety of homes for sale in the Pin Oak neighborhood of Wilmette Illinois, but many of them are condo or townhouse properties. The condos here come in many sizes though, up to and beyond three bedrooms. Living in Wilmette is a great choice for families or singles with its top notch schools and great commuting times. Public transportation is also convenient and serves the local area as well as nearby Chicago.The selection of homes for sale in the Pin Oak neighborhood of Wilmette Illinois generally has plenty to offer as can be seen from the listings here. If you’re interested in more info about how these ho...
Comments 19
By Noah Seidenberg, Chicagoland and Suburbs (800) 858-7917
(Coldwell Banker)
Homes for sale in East Wilmette IL are a nice investment in an area just 14 miles north of Chicago. It’s known for its excellent school system, both public and private, which also makes it a great choice for families. You can find all styles and types of housing in East Wilmette, from six bedroom homes to cozy condos with the feel of a home.Because of the nice area, homes for sale in East Wilmette IL are both great investments and a great choice for buyers. If you are looking into this area for buying a home, you can sign up for a VIP Listing Search with Coldwell Banker Wilmette and be immediately informed on new listings. You can also get a good look at how this market is doing. East Wilmette offers a ton of amenities from public beaches to a great park system.The selection homes for s...
Comments 10