Home Prices In Wilmette Fell By 9 Percent Last Year

WILMETTE, IL — Wilmette's ZIP code has a "very high" environmental hazard risk, and its home prices declined last year, according to a new report from ATTOM Data Solutions. The report found Wilmette bucking a national trend where home prices in ZIP codes it ranked among the highest 20 percent for environmental hazard risk grew faster than the market overall.

Median home prices in ZIP codes with a very high environmental hazard risk index grew faster than the overall market over the past year (7.4 percent), the past five years (57.1 percent) and the past 10 years (22.2 percent), according to the report. In the market overall, median home prices appreciated 7.1 percent over the past year, 51.1 percent over the past five years and 12.3 percent over the past 10 years.

ATTOM Data analyzed over 8,000 ZIP codes that had sufficient housing trend data for risk related to four environmental hazards: superfund sites, brownfields, polluters and poor air quality. A risk index was calculated for each hazard and a combined index was then calculated based on the four factors. The highest environmental risk index for a ZIP code in the country was 497.

In 60091, Wilmette, the overall risk index 133, while median home sales prices last year fell by 9 percent, dropping from $660,000 to $599,500.

Homes in ZIP codes with higher environmental hazard risk also had the lowest foreclosure rate, with the exception being ZIP codes that had the highest risk index for superfunds. The foreclosure rate for ZIP codes in the highest risk category for superfunds was more than 1.5 times that of the overall market rate.

In 60091, the foreclosure rate was 0.43 percent – barely above the national average of 0.4.

The average market value of the 9,866 single family homes and condos in Wilmette is $621,024, according to the report.

In the market overall, a total of 12.6 million such homes with a combined market value of $3.4 trillion were in ZIP codes in the top 20 percent for environmental hazard risk.

The average market value of homes in these ZIP codes was $268,585 compared to an average market value of $329,217 in the market overall.

According to ATTOM, the top 10 ZIP codes for overall environmental hazard housing risk are:

• Denver (80216)
• San Bernardino, California (92408)
• Sheridan, Oregon (97378)
• Saint Louis (63133)
• Haw River, North Carolina (27258)
• Riverside, California (92501)
• Santa Fe, California (90670)
• Tulsa, Oklahoma (74108)
• Tulsa, Oklahoma (74119)
• Houston (77042)

See the full report from ATTOM here

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