Evanston IL Real Estate Market Action Report March 2012

Evanston's February Property sales were 36, down -5.3% from 38 in February of 2011 and -28.0% lower than the 50 sales last month. February 2012 sales were at a mid level compared to February of 2011 and 2010. February YTD sales of 86 are running 22.9% ahead of last year's year-to-date sales of 70.

The Median Sales Price in February was $250,000, down -4.0% from $260,500 in February of 2011 and down -21.6% from $319,000 last month. The Average Sales Price in February was $409,111, up 27.0% from $322,046 in February of 2011 and down 0.0% from $409,123 last  month. February 2012 ASP was at highest level compared to February of 2011 and 2010. The Total Inventory of Properties available for sale as of February was 451, down -1.1% from 456 last month and down -29.9% from 643 in  February of last year. February 2012 Inventory was at the lowest level compared to February of 2011 and 2010.

The February 2012 Months Supply of Inventory of 12.5 months was at its lowest level compared with February 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 February was 114, down -11.6% from 129 days last month and up 16.3% from 98 days in February of last year. The February 2012 DOM was at its highest level compared with February 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 February 2012 Selling Price vs Original List Price of 82.3% was down from 86.3% last month and down from 89.1% in February of last year.

The number of New Listings in February 2012 was 124, up 12.7% from 110 last month and down -13.3% from 143 in February of last year.