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 May 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

$857,500

$350/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$37,666(+4.6%)

Key Takeaway

Homes in Wilmette have sold for 4.6% more than they did a year ago.

Summary: The median home sold price in Wilmette was $857,500 in May 2024, up 4.6% from last year, and the median price per square foot was $350.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $155K$171K
+10.3%
2 $455K$394.4K
-13.3%
3 $571.5K$596.1K
+4.3%
4 $955K$1.0M
+12.0%
5+ $1.6M$1.7M
+3.1%

Summary: Wilmette housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 10.3%, 2 bedroom homes decreased by 13.3%, 3 bedroom homes increased by 4.3%, 4 bedroom homes increased by 12%, and 5+ bedroom homes increased by 3.1%.

Median Sold Price Compared To Nearby Cities

Evanston Township
+6.3%
Evanston
+6.2%
New Trier Township
+4.8%
Wilmette
+4.6%
Kenilworth
-21.6%

Housing Supply in Wilmette, IL

How many homes are available in Wilmette, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
128116-9.4%

Summary: The Wilmette real estate market had 116 homes for sale in May 2024, a 9.4% decrease compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 21
-50.0%
2 1411
-21.4%
3 2931
+6.9%
4 4437
-15.9%
5+ 3936
-7.7%

Summary: The Wilmette housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes decreased by 21.4%, 3 bedroom homes increased by 6.9%, 4 bedroom homes decreased by 15.9%, and 5+ bedroom homes decreased by 7.7%.

Number of Homes Sold

Apr 2024May 2024CHANGE
4745-4.3%

Asking Price vs. Sold Price

9 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

31 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. 68.9% of homes here sold above asking price last month.

Summary: A total of 45 homes were sold or pending in Wilmette in May 2024, down by 4.3% month-over-month. Of the 45 sold homes, 20% were sold under asking, 11% were sold at asking, and 69% 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

May 2023May 2024CHANGE
15 Days10 Days-29.0%

Summary: Homes in Wilmette had an average of 10 days on market in May 2024, down by 29% compared to last year.

Breakdown of Home Sale Times

42 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

1 Home Was 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 May 2024, 45 homes were sold in Wilmette; 93% of homes were sold within 30 days, 4% of homes were sold within 30 to 90 days, and 2% 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 1 Day Ago

Newest Listings in Wilmette, IL

Nearby Markets to Wilmette, IL

What housing markets are near Wilmette, IL?