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 September 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

$900,000

$359/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$68,312(+8.2%)

Key Takeaway

Homes in Wilmette have sold for 8.2% more than they did a year ago.

Summary: The median home sold price in Wilmette was $900,000 in September 2024, up 8.2% from last year, and the median price per square foot was $359.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 $195K$266.5K
+36.7%
2 $444K$384.4K
-13.4%
3 $596.1K$635K
+6.5%
4 $982.5K$1.2M
+22.1%
5+ $1.7M$1.9M
+14.2%

Summary: Wilmette housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes increased by 36.7%, 2 bedroom homes decreased by 13.4%, 3 bedroom homes increased by 6.5%, 4 bedroom homes increased by 22.1%, and 5+ bedroom homes increased by 14.2%.

Median Sold Price Compared To Nearby Cities

New Trier Township
+20.3%
Evanston Township
+10.0%
Evanston
+9.8%
Wilmette
+8.2%

Housing Supply in Wilmette, IL

How many homes are available in Wilmette, IL?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
95100+5.3%

Summary: The Wilmette real estate market had 100 homes for sale in September 2024, a 5.3% increase compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 21
-50.0%
2 912
+33.3%
3 3334
+3.0%
4 2829
+3.6%
5+ 2324
+4.3%

Summary: The Wilmette housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 33.3%, 3 bedroom homes increased by 3%, 4 bedroom homes increased by 3.6%, and 5+ bedroom homes increased by 4.3%.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
3326-21.2%

Asking Price vs. Sold Price

14 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

11 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Wilmette, you may be able to get a good deal. 53.8% of homes here sold below asking price last month.

Summary: A total of 26 homes were sold or pending in Wilmette in September 2024, down by 21.2% month-over-month. Of the 26 sold homes, 54% were sold under asking, 4% were sold at asking, and 42% 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

Sep 2023Sep 2024CHANGE
25 Days35 Days+39.3%

Summary: Homes in Wilmette had an average of 35 days on market in Sep 2024, up by 39.3% compared to last year.

Breakdown of Home Sale Times

19 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

2 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 September 2024, 26 homes were sold in Wilmette; 73% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 8% 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 22 Days Ago

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