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Saturday, April 4, 2020

Wilmington home prices rise in the first quarter of 2017

Real Estate

By Local Labs News Service | Apr 14, 2017

Re 6

The median sale price of a home sold in the first quarter of 2017 in Wilmington rose by $50,750 while total sales increased by 40%, according to BlockShopper.com.

From January through March of 2017, there were 14 homes sold, with a median sale price of $134,000 - a 61% increase over the $83,250 median sale price for the same period of the previous year. There were 10 homes sold in Wilmington in the first quarter of 2016.

The median sales tax in Wilmington for 2017 was $3,224.59. In 2016, the median sales tax was $2,905.80. This marks an increase of 11%. The effective property tax rate, using the median property tax and median home sale price as the basis, is 2.4%.

The following table compares Wilmington to other Will County cities with similar median sales prices in the first quarter of 2017:

City
Jan. - Mar. 2017 Home Sales
Jan. - Mar. 2016 Home Sales
% change (Total Home Sales)
Jan. - Mar. 2017 Median Sales Price
Jan. - Mar. 2016 Median Sales Price
% change (Median Sales Price)
Crest Hill
80
46
73.9%
$146,500
$129,500
13.1%
Forest Manor
1
0
-
$145,000
$0
-
Boula
2
2
0%
$144,500
$153,750
-6%
Joliet
418
381
9.7%
$142,900
$130,000
9.9%
Coynes
1
0
-
$140,000
$0
-
Wilmington
14
10
40%
$134,000
$83,250
61%
Braidwood
22
13
69.2%
$127,250
$140,000
-9.1%
Lily Cache
1
1
0%
$126,744
$95,500
32.7%
Crete
52
39
33.3%
$113,624.50
$124,000
-8.4%
Rockdale
7
2
250%
$111,650
$91,000
22.7%
Preston Heights
9
3
200%
$110,000
$40,000
175%

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