Is Wilmette, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Wilmette is a seller's market

Buyer's
Market

Difference Since April 2023

Since last year, Wilmette has remained a Seller's Market.

Key Takeaway

Wilmette is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Wilmette, IL

How much do homes in Wilmette, IL cost?

Median Sold Price

$839,312

$346/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$54,312(+6.9%)

Key Takeaway

Homes in Wilmette have sold for 6.9% more than they did a year ago.

Summary: The median home sold price in Wilmette was $839,312 in April 2024, up 6.9% from last year, and the median price per square foot was $346.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $155K$195K
+25.8%
2 $434.5K$420K
-3.3%
3 $561.2K$624.5K
+11.3%
4 $960K$999K
+4.1%
5+ $1.6M$1.6M
0.0%

Summary: Wilmette housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 25.8%, 2 bedroom homes decreased by 3.3%, 3 bedroom homes increased by 11.3%, 4 bedroom homes increased by 4.1%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Wilmette
+6.9%
Evanston Township
+4.5%
Evanston
+4.5%
New Trier Township
0.5%
Kenilworth
-19.8%

Housing Supply in Wilmette, IL

How many homes are available in Wilmette, IL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
101126+24.8%

Summary: The Wilmette real estate market had 126 homes for sale in April 2024, a 24.8% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 11
0.0%
2 1114
+27.3%
3 2828
0.0%
4 3545
+28.6%
5+ 2638
+46.2%

Summary: The Wilmette housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 27.3%, 3 bedroom homes remained the same, 4 bedroom homes increased by 28.6%, and 5+ bedroom homes increased by 46.2%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
2141+95.2%

Asking Price vs. Sold Price

17 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

22 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Wilmette, you could pay more than the asking price. 53.7% of homes here sold above asking price last month.

Summary: A total of 41 homes were sold or pending in Wilmette in April 2024, up by 95.2% month-over-month. Of the 41 sold homes, 41% were sold under asking, 5% were sold at asking, and 54% were sold over asking.

Days on Market for Wilmette, IL

How long does it take to sell a home in Wilmette, IL?

Average Sale Time

Apr 2023Apr 2024CHANGE
22 Days33 Days+50.5%

Summary: Homes in Wilmette had an average of 33 days on market in Apr 2024, up by 50.5% compared to last year.

Breakdown of Home Sale Times

28 Homes Were Sold
Under 30 Days

8 Homes Were Sold
In 30 - 90 Days

5 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Wilmette are selling fast, if you're buying plan to act quickly.

Summary: During April 2024, 41 homes were sold in Wilmette; 68% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 12% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 15 Days Ago

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