Average Home Prices Compared: Indian Hill Estates, Kenilworth Gardens, Harper School and Wilmette – last 36 months
Harper School, located in the northwest corner of the village, features a diverse stock of housing. Two areas in particular, Indian Hill Estates and Kenilworth Gardens, command more, on average, than the rest of Wilmette and are especially good at maintaining their resale value. In Indian Hill, you will find large, gorgeous homes with sprawling lawns built on some of Wilmette’s most sizable and widest lots. Recent empty lots have sold for more than $600,000! In Kenilworth Gardens, homes are generally more moderately priced and sized. While lots are usually standard, accommodating mostly detached or one car garages, the location remains super-popular. Neighbors host all sorts of block parties and events that bring everyone together, keeping demand for this area strong. As you can see, average pricing for both of these very popular neighborhoods has remained ahead of Wilmette’ overall average price through the years.
Months’ Supply of SF Homes: Indian Hill Estates, Kenilworth Gardens. Harper School and Wilmette – last 36 months
Following supply and demand principles, Indian Hills typically has the fewest homes available (with the highest prices). A good rule of thumb is that 6 months supply is a balanced market. A lower than 6 month supply favors sellers (with less inventory from which buyers can choose) and a higher than 6 month supply favors Buyers with more inventory from which Buyers can choose. See the below chart for historic and current inventory levels.
New Construction in Harper School area
New Construction throughout the Village is skyrocketing. Builders are identifying some of the best lots in McKenzie on which to build. The new construction price tag starts at about $1,300,000 in the Harper district and goes up from there. There tends to be less new construction in Harper due to the high cost of land and the housing stock is a bit newer (Harper’s oldest homes are primarily from the 1920’s and 1930’s) and not as well-suited for tear-downs as in other parts of the village.
Distribution of Home Prices in Harper School District
The below chart gives you an idea of the number of homes in each of the following Harper School price brackets. Knowing the number of homes in your given price bracket can help estimate how much competition you may be up against (a bracket with fewer homes may face more buyers except in the case of ultra-luxury homes where fewer buyers organically exist).