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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Evanston Township is a seller's market

Buyer's
Market

Difference Since May 2023

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

Key Takeaway

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

Housing Prices in Evanston Township, IL

How much do homes in Evanston Township, IL cost?

Median Sold Price

$401,218

$282/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$23,687(+6.3%)

Key Takeaway

Homes in Evanston Township have sold for 6.3% more than they did a year ago.

Summary: The median home sold price in Evanston Township was $401,218 in May 2024, up 6.3% from last year, and the median price per square foot was $282.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $178.5K$182K
+2.0%
2 $270K$300K
+11.1%
3 $459.8K$505K
+9.8%
4 $777K$805.7K
+3.7%
5+ $990K$920K
-7.1%

Summary: Evanston Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2%, 2 bedroom homes increased by 11.1%, 3 bedroom homes increased by 9.8%, 4 bedroom homes increased by 3.7%, and 5+ bedroom homes decreased by 7.1%.

Median Sold Price Compared To Nearby Cities

Evanston Township
+6.3%
Evanston
+6.2%
Skokie
+5.4%
Niles Township
+5.2%
Wilmette
+4.6%

Housing Supply in Evanston Township, IL

How many homes are available in Evanston Township, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
268276+3.0%

Summary: The Evanston Township real estate market had 276 homes for sale in May 2024, a 3.0% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 2330
+30.4%
2 104102
-1.9%
3 6865
-4.4%
4 3339
+18.2%
5+ 4040
0.0%

Summary: The Evanston Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 30.4%, 2 bedroom homes decreased by 1.9%, 3 bedroom homes decreased by 4.4%, 4 bedroom homes increased by 18.2%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Apr 2024May 2024CHANGE
9776-21.6%

Asking Price vs. Sold Price

31 Homes Were Sold
Under Asking

20 Homes Were Sold
At Asking

25 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Evanston Township, you may be able to get a good deal. 40.8% of homes here sold below asking price last month.

Summary: A total of 76 homes were sold or pending in Evanston Township in May 2024, down by 21.6% month-over-month. Of the 76 sold homes, 41% were sold under asking, 26% were sold at asking, and 33% were sold over asking.

Days on Market for Evanston Township, IL

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

Average Sale Time

May 2023May 2024CHANGE
26 Days21 Days-17.6%

Summary: Homes in Evanston Township had an average of 21 days on market in May 2024, down by 17.6% compared to last year.

Breakdown of Home Sale Times

62 Homes Were Sold
Under 30 Days

11 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 76 homes were sold in Evanston Township; 82% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 4% 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 12 Days Ago

Newest Listings in Evanston Township, IL

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