We have the Evanston IL Real Estate update for August 2015. I write these reports each month and focus on comparison of this time frame as opposed to the same time one year ago. We talk about a one month time frame but the supplied report will show you much more. We go into trends and if you check out the chart at the end you can see the complete picture for Evanston Real Estate and goes into great detail so you can see for yourself what is happening and what to expect.
When we look at Evanston IL Real Estate in general, that is all property types we have a decline of 14.7% of new listings. That indicates a seller’s market. That means that there is high demand and still a good time to sell a home or condo if that is what you are considering. Evanston IL has a 2.9% gain in closed sales and a negative 31.4% change in inventory of all homes. The strong sales means opportunity for sellers and buyers that have to act quickly.
In the Evanston Real Estate single family scene we have had 75 new listings this month as compared with 81 during the one month time frame ending August 15th 2015. This is 7.4% less and we have 22.5% more under contract houses, 49 this month and 40 one year ago for this month. Closed sales are up 14.8% with 70 houses closing as compared with 61 last year this month. The average sales price for a single family home in Evanston is currently $605,000 and last year it was $625,000 during the middle of July and ending August 15 2016. That is down 3.2%. Average market time is down 3.2% to only 60 days before a contract and last year it was 62 days.
Talking condos in Evanston Real Estate we have a 20.2% dip in new listings with 87 coming on this month and 109 last year, same time. Closed sales are down 6.3% and the average sales price for an Evanston condominium is down 13.3% to $254,920 as opposed to 2015’s $294,087. The average market time for a condo is down a hair over 10% to 62 days, last year it was at 69 days.
If you want to discuss Evanston IL Real Estate or the community please call or email. We would love to hear from you.
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