Condo Sales Soar To New High In Wilmette
Monday, August 18th, 2008 by JakeThe Wilmette real estate market saw one of the best results in years during the second quarter. Sales of condos reached an 18-year high for the quarter.
According to data from the Chicago Association of Realtors, a total of 43 condominiums and lofts were sold in Wilmette during the second quarter, up from 17 units sold during the same period last year. The area was one of just a few suburbs around the Chicago region to see higher sales during the second quarter.
The increase in demand for condominiums in Wilmette led to a marked decline in the average turnover time. If you’re planning on selling your condominium in the area, the average turnover time fell to just 52 days, a six-year low.
Prices were up in the neighborhood. The average sales price during the second quarter rose by 8 percent from the same period last year. The average sales price for the quarter stood at just over $502,000, an all-time high for the city. Wilmette may have seen the last of the slow sales and falling prices that many other parts of the North Shore Chicago Real Estate market continue to experience.
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