Is Evanston, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 2023
Since last year, Evanston has remained a Seller's Market.
Housing Prices in Evanston, IL
How much do homes in Evanston, IL cost?
Median Sold Price
$375,185
$272/sqft
Based on all homes sold in the last 12 months.
Difference Since February 2023
Summary: The median home sold price in Evanston was $375,185 in February 2024, down 4.5% from last year, and the median price per square foot was $272.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $185K | $175.7K | -5.0% |
2 Bedrooms | $270.6K | $285K | +5.3% |
3 Bedrooms | $475K | $481.6K | +1.4% |
4 Bedrooms | $800K | $799K | -0.1% |
5+ Bedrooms | $925K | $915K | -1.1% |
Summary: Evanston housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 5%, 2 bedroom homes increased by 5.3%, 3 bedroom homes increased by 1.4%, 4 bedroom homes decreased by 0.1%, and 5+ bedroom homes decreased by 1.1%.
Median Sold Price Compared To Nearby Cities
Wilmette | $755.2K | $842K | +11.5% |
Skokie | $365.1K | $385K | +5.4% |
Niles Township | $369.1K | $380.4K | +3.1% |
Evanston Township | $392.6K | $375.2K | -4.4% |
Evanston | $392.9K | $375.1K | -4.5% |
Housing Supply in Evanston, IL
How many homes are available in Evanston, IL?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
156 | 227 | +45.5% |
Summary: The Evanston real estate market had 227 homes for sale in February 2024, a 45.5% increase compared to January 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 14 | 18 | +28.6% |
2 Bedrooms | 55 | 86 | +56.4% |
3 Bedrooms | 38 | 57 | +50.0% |
4 Bedrooms | 22 | 30 | +36.4% |
5+ Bedrooms | 27 | 36 | +33.3% |
Summary: The Evanston housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 28.6%, 2 bedroom homes increased by 56.4%, 3 bedroom homes increased by 50%, 4 bedroom homes increased by 36.4%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
26 | 48 | +84.6% |
Asking Price vs. Sold Price
24 Homes Were Sold
Under Asking
11 Homes Were Sold
At Asking
13 Homes Were Sold
Over Asking
Summary: A total of 48 homes were sold or pending in Evanston in February 2024, up by 84.6% month-over-month. Of the 48 sold homes, 50% were sold under asking, 23% were sold at asking, and 27% 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
Feb 2023 | Feb 2024 | CHANGE |
---|---|---|
45 Days | 27 Days | -39.1% |
Summary: Homes in Evanston had an average of 27 days on market in Feb 2024, down by 39.1% compared to last year.
Breakdown of Home Sale Times
37 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During February 2024, 48 homes were sold in Evanston; 77% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.