Forty-four Wilmette homes have gone under contract in the last 30 days. This is a higher number than average. This increased activity is definitely due to the time of year. The school year is ending and many people from the city, and out of town, are looking to get settled for the next school year in Wilmette. Four months is the average market time for these homes to go "under contract." Not bad, considering the average market time is much higher.
This time of year typically has the most homes sold, and the most homes on the market. Very competitive time of year for anyone selling a home. There are currently 158 homes for sale in Wilmette, with an average market time of six months. In the last year, only 259 homes have sold in Wilmette. There are 158 on the market today. Wilmette real estate is in more demand than most areas. However, the supply is heavy and creates a real challenge for most sellers.
While homes are selling, prices remain a real issue. On average, homes are only selling for 90 percent of the original asking price. Price reductions are very common, with many people "searching" for their market price.