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Evanston IL Real Estate Market Action Report February 2012

By
Real Estate Agent with Coldwell Banker Residential Brokerage

Evanston 's January Property sales were 38, up 18.8% from 32 in January of 2011 and -22.4% lower than the 49 sales last month. January 2012 sales were at their highest level compared to January of 2011 and 2010. January YTD sales of 38 are running 18.8% ahead of last year's year-to-date sales of 32.

 


The Median Sales Price in January was $317,000, up 39.3% from $227,500 in January of 2011 and up 5.3% from $301,000 last month. The
Average Sales Price in January was $411,668, up 36.8% from $300,967 in January of 2011 and up 14.8% from $358,730 last month. January 2012 ASP was at a mid range compared to January of 2011 and 2010.

 


The Total Inventory of Properties available for sale as of January was 442, down -4.5% from 463 last month and down -26.5% from 601 in January of last year. January 2012 Inventory was at the lowest level compared to January of 2011 and 2010.

 


The January 2012 Months Supply of Inventory of 11.6 months was at its lowest level compared with January of 2011 and 2010. A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers.

 


The average Days On Market (DOM) is how many days the average Property is on the Market before it sells. An upward trend in DOM tends to indicate a move towards more of a Buyer's market, a downward trend a move towards more of a Seller's market. The DOM for January was 136, up 23.6% from 110 days last month and up 65.9% from 82 days in January of last year. The January 2012 DOM was at its highest level compared with January of 2011 and 2010.

 


The Selling Price vs Original Listing Price is the average amount that Sellers are agreeing to come down from their original list price. The lower the ratio is below 100% the more of a Buyer's market exists, a ratio at or above 100% indicates more of a Seller's market. The January 2012 Selling Price vs Original List Price of 87.2% was down from 88.2% last month and down from 87.4% in January of last year.

The number of New Listings in January 2012 was 101, up 173.0% from 37 last month and down -8.2% from 110 in January of last year.

Posted by

Art Wilson, Broker, ABR, CRP, CRS
Coldwell Banker Residential Brokerage        
552 Lincoln Ave.Winnetka, IL 60093              

Cell: 847-363-1599

Serving Chicago's North Shore Suburbs

Art.Wilson@cbexchange.com 
www.NorthShoreHomesOnline.com

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