The Evanston Real Estate September 2016 market report is out. We are going to give an explanation of market conditions and also provide a great and easy to understand report at the end that you will find useful to help you see the big picture.
For the complete scene, all properties considered we have similar conditions as compared with last year at this time, new listings are up less than 1% and there is a 4.8% gain in closed sales of all types of properties. The surprise is that there is 29.9% less inventory. This is an indication of a seller's market.
Looking at single family homes, the change is flat. 54 new homes for sale in the last 30 days, exactly the same situation as last year this time for the 30 day period ending September 14 2016. Evanston has 5.6% less under contract houses but there is a 20.8% gain in closed sales of houses with 56 as compared with 48 last year this same time frame. The average sales price has only gone up 1% at $605,760 and last year it was $599,948. Average market time is up 28.3% to 59 days from 46 days last year this month.
The condo market has 1.3% more new listings with 79 condominiums as compared with 78 last year. Under contract properties are down 17.2% with 48 properties and last year it was 58. We have 5.2 less closed sales with 73 properties and last year it was 77. The average sales price is up 16.7% to $270,388 as compared with last year's $231,601. The average market time is up 2.3% from last year's 87 days to the present 89 days until a contract.
If you have any questions please call us at (800) 858-7917 day or night or check out our site. We can be found at Coldwell Banker Evanston. If you are a first time buyer or an experienced multiple home owner we can help you find what you are looking for.
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