Sunday, October 26, 2014

The current real estate market in Skokie, IL

 Chicago area real estate appraiser Michael Walsh takes a look at the real estate market in the Village of Skokie using statistics from Midwest Real Estate Data the MRED MLS and finds lots of activity in One-Unit Housing, this includes both attached and detached homes.

According to the MLS in the last 30 days there were 91 new listings for One-Unit Housing, there were 71 closed sales and 79 listings went under contract.

In the last twelve months the median sales price for One-Unit Housing increased +14.7%, average marketing time declined -27.5% to 74 days on the market, and there is currently a 3.9 month supply of inventory. This level is considered in balance. REO & Short Sales account for approximately 30% of total sales.

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