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 December 2021

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.

How much do homes in Evanston, IL cost?

Median Sold Price

$386,250

$258/sqft

Based on all homes sold in the last 12 months.

Difference Since December 2021

+$21,132(+5.8%)

Key Takeaway

Homes in Evanston have sold for 5.8% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSDec 2021Dec 2022%
1 $192K$185K
-3.6%
2 $266.2K$270K
+1.4%
3 $448.8K$476.1K
+6.1%
4 $728K$787.5K
+8.2%
5+ $947.5K$918K
-3.1%

Median Sold Price Compared To Nearby Cities

Evanston Township
+5.9%
Evanston
+5.8%
Wilmette
+3.2%
Niles Township
+2.4%
Skokie
+2.0%

How many homes are available in Evanston, IL?

Number of Homes For Sale

Nov 2022Dec 2022%
267227-15.0%

Homes For Sale By Bedroom Count

# BEDSNov 2022Dec 2022%
1 2726
-3.7%
2 8470
-16.7%
3 8263
-23.2%
4 3128
-9.7%
5+ 4340
-7.0%

Number of Homes Sold

Nov 2022Dec 2022%
6458-9.4%

Asking Price vs. Sold Price

42 Homes Were Sold
Under Asking

6 Homes Were Sold
At Asking

10 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Evanston, you may be able to get a good deal. 72.4% of homes here sold below asking price last month.

Average Sale Time

Dec 2021Dec 2022%
31 Days43 Days+39.6%

Breakdown of Home Sale Times

35 Homes Were Sold
Under 30 Days

14 Homes Were Sold
In 30 - 90 Days

9 Homes Were 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.

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

About Evanston, IL

Number of homes for sale in Evanston, IL real estate market have reached 227. In December 2022 in Evanston, IL there were 15% less homes for sale than in November 2022. In December 2022, listings were on the market for 43 days. During the same period, the median list price in this real estate market was $386,250. This housing market listing prices have changed between November 2022 and December 2022: 1 bedroom properties became 3.6% more cheaper, prices of 2 bedrooms properties went up by 1.4%, 3 bedrooms properties prices increased by 6.1%, 4 bedrooms properties prices increased by 8.2%, prices of 5 bedrooms properties decreased by 3.1%. Housing inventory have changed in this real estate market: 1 bedroom homes became 3.7% less available, the quantity of 2 bedrooms homes went down by 16.7%, 3 bedrooms homes inventory decreased by 23.2%, volume of 4 bedrooms homes went down by 9.7%, 5 bedrooms homes became 7% less available. In December 2022 more than 10 listings in Evanston, IL were sold above the asking price. During the same period more than 6 listings were sold at asking price, while more than 42 were sold below.

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