Community Corner

Skokie Home Sale Prices Edging Up

Economists told Chicago Magazine now is the time to buy. Take a look at median home sales for homes in the area and find out when prices will start to go up in the area.

Economists are now on board with what real-estate agents have been saying for years— when it comes to buying a home, now is a great time to buy, according to an article in Chicago Magazine. 

Even though Skokie home sale prices in 2012 were up 0.6 percent compared with 2011, it’s still down 43.8 percent from 2006. The median sales price of a Skokie home was $225,000 in 2012. 

Zillow Chief Economist Stan Humphries told Chicago Magazine the Chicago housing market has hit "rock bottom" and is not expected to rebound too quickly. The summer is expected to be an opportune time to buy when more houses typically go on the market, according to the article.

Find out what's happening in Skokiewith free, real-time updates from Patch.

From there, home prices are expected to increase by .8 percent by the end of the second quarter of 2013 and by five percent by the end of the second quarter in 2014, according to the article. 

Here's a look at median home sales prices around the North Shore:

Find out what's happening in Skokiewith free, real-time updates from Patch.

Community

Median Sales Price in 2012

Percent Change Since 2006

Percent Change Since 2011

Skokie

$225,000

-43.8

0.6

Evanston

$439,000

-20.2

3.9

Wilmette

$600,000

-25.9

-7.7

Winnetka

$1,050,000

-24.7

4.8

Glenview

$440,000

-26.5

-6.8

Northbrook

$486,00

-25.8

9.2


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