The Evanston IL Real Estate May 2017 report shows low inventory. The market is very busy and sales are up over last year. People are hungry for Evanston IL homes and condos and the lack of inventory is frustrating for some people.
It is a sellers market and people who are listing property at this time are successful if they are pricing their property correctly. Good photos are important as is the presentation.
Evanston IL has seen a 15.8% drop in new listings of all types of properties. Closed sales are down by 4.7%. Also, we are seeing a 28.6% drop in inventory of homes.
Evanston IL single family homes are down by 22.6% for new listings. Under contract properties are up 16.7%. Closed sales of houses are down 4.8%. The average sales price for a house this month is up 10% to $636,490. The average market time is down 1.5% to 64 days.
Taking a look at Evanston IL condos, new listings are down 8.8%. Under contract properties are down by 8.2%. Closed sales are down 4.6%. The average sales price for an Evanston condominium is up 19.3% to $310,217. The average market time is down 12.7% to 69 days.
This report is a way of comparing the Real Estate situation ending May 14 of 2017 with the same time frame one year ago. If you look at the report at the end of this blog you will get an even more complete view of Evanston IL.
If you have any questions about Evanston IL Real Estate or the community in general give us a call at Coldwell Banker Evanston. We can be reached at (800) 858-7917. Call us day or night. We enjoy working with first time home buyers or the experienced investor.