I collected all the data about Skokie, IL from MLS and made this easy to understand chart so we can see the real estate market trends for the past five years.
As we can see below, there were 463 properties sold in 2009 in Skokie, IL with an average market time of 154 days. Average sold price was $268,605. Before the bubble burst, the home value was 38% higher in 2007 comparing with today's average home value in Skokie, IL.
The current average listing price in Skokie is $265,223. Slightly higher compared to the average sold price at the end of 2010. As I type the average market time is 151 days and there are more than 100 homes available from $200,000 - $400,000 price range. If you are thinking of buying a home in Skokie, don't wait, as we can see there were 495 homes sold in 2010 compared to 463 in 2009. The highest sold home in 2010 was $1,350,000 while there where 54 homes sold from $600,000-$2,000,000 in 2010.
If you are thinking of buying or selling in Skokie, feel free to contact me for any real estate needs you may have. No obligation comparable market analysis is available if you are thinking of selling your home. Getting ready to buy? I'll send you current listings on the market with correct listing status (the listing could be already sold!). Many buyers are surprised that the home they liked online is already under contract.
Few other local reports on my blog:
Mount Prospect, IL real estate trends 06-10
Park Ridge, IL real estate market trends 06-10
Glenview, IL real estate market trends 05-09
Morton Grove, IL real estate market trends 05-09
Niles, IL real estate market trends in 2009