Evanston IL Real Estate Market Action Report July 2015

By
Real Estate Agent with Coldwell Banker Residential Brokerage

 

 

By Art Wilson, Realtor

 

Evanston's June Property sales were 147, up 16.7% from 126in June of 2014 and 51.5% higher than the 97 sales last month. June 2015 saleswere at their highest level compared to June of 2014 and 2013. June YTD salesof 519 are running 16.4% ahead of last year's year-to-date sales of 446.

 The Median SalesPrice in June was $341,000, down -1.3% from $345,500 in June of 2014 and down-1.2% from $345,000 last month. The Average Sales Price in June was $415,143,up 4.5% from $397,379 in June of 2014 and down -10.3% from $462,591 last month.June 2015 ASP was at highest level compared to June of 2014 and 2013.

The Total Inventory of Properties available for sale as ofJune was 394, down -0.3% from 395 last month and up 1.5% from 388 in June oflast year. June 2015 Inventory was at highest level compared to June of 2014and 2013.

The June 2015 Months Supply of Inventory of 2.7 months wasat its lowest level compared with June of 2014 and 2013.  A comparatively lower MSI is more beneficialfor sellers while a higher MSI is better for buyers.

The average Days On Market (DOM) is how many days theaverage Property is on the Market before it sells. An upward trend in DOM tendsto indicate a move towards more of a Buyer's market, a downward trend a movetowards more of a Seller's market. The DOM for June was 44, down -33.3% from 66days last month and up 22.2% from 36 days in June of last year. The June 2015DOM was at a mid range compared with June of 2014 and 2013.

The Selling Price vs Listing Price is the average amountthat Sellers are agreeing to come down from their list price. The lower theratio is below 100% the more of a Buyer's market exists, a ratio at or above100% indicates more of a Seller's market. The June 2015 Selling Price vs ListPrice of 97.1% was up from 96.9% last month and down from 97.4% in June of lastyear.

The number of New Listings in June 2015 was 192, down -9.0%from 211 last month and up 11.6% from 172 in June 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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