Is Evanston, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Evanston is a seller's market

Buyer's
Market

Difference Since June 2023

Since last year, Evanston has remained a Seller's Market.

Key Takeaway

Evanston is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Evanston, IL

How much do homes in Evanston, IL cost?

Median Sold Price

$401,802

$288/sqft

Based on all homes sold in the last 12 months.

Difference Since June 2023

+$22,707(+6.0%)

Key Takeaway

Homes in Evanston have sold for 6% more than they did a year ago.

Summary: The median home sold price in Evanston was $401,802 in June 2024, up 6% from last year, and the median price per square foot was $288.

Median Sold Price By Bedroom Count

# BEDSJun 2023Jun 2024CHANGE
1 $177K$187.5K
+5.9%
2 $277.7K$300K
+8.0%
3 $463.5K$505K
+9.0%
4 $787.5K$789.5K
0.3%
5+ $962.5K$947.5K
-1.6%

Summary: Evanston housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5.9%, 2 bedroom homes increased by 8%, 3 bedroom homes increased by 9%, 4 bedroom homes increased by 0.3%, and 5+ bedroom homes decreased by 1.6%.

Median Sold Price Compared To Nearby Cities

Skokie
+6.4%
Evanston
+6.0%
Evanston Township
+5.9%
Niles Township
+5.7%
Wilmette
+2.3%

Housing Supply in Evanston, IL

How many homes are available in Evanston, IL?

Number of Homes For Sale

May 2024Jun 2024CHANGE
272283+4.0%

Summary: The Evanston real estate market had 283 homes for sale in June 2024, a 4.0% increase compared to May 2024.

Homes For Sale By Bedroom Count

# BEDSMay 2024Jun 2024CHANGE
1 3030
0.0%
2 103106
+2.9%
3 6557
-12.3%
4 3848
+26.3%
5+ 3642
+16.7%

Summary: The Evanston housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 2.9%, 3 bedroom homes decreased by 12.3%, 4 bedroom homes increased by 26.3%, and 5+ bedroom homes increased by 16.7%.

Number of Homes Sold

May 2024Jun 2024CHANGE
8685-1.2%

Asking Price vs. Sold Price

26 Homes Were Sold
Under Asking

15 Homes Were Sold
At Asking

44 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Evanston, you could pay more than the asking price. 51.8% of homes here sold above asking price last month.

Summary: A total of 85 homes were sold or pending in Evanston in June 2024, down by 1.2% month-over-month. Of the 85 sold homes, 31% were sold under asking, 18% were sold at asking, and 52% were sold over asking.

Days on Market for Evanston, IL

How long does it take to sell a home in Evanston, IL?

Average Sale Time

Jun 2023Jun 2024CHANGE
33 Days15 Days-54.5%

Summary: Homes in Evanston had an average of 15 days on market in Jun 2024, down by 54.5% compared to last year.

Breakdown of Home Sale Times

73 Homes Were Sold
Under 30 Days

11 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Evanston are selling fast, if you're buying plan to act quickly.

Summary: During June 2024, 85 homes were sold in Evanston; 86% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 1% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 26 Days Ago

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