Evanston IL Real Estate Market Action Report June 2010

The Total Inventory of Properties available for sale as of May was 777, down -3.1% from 802 last month and down - 7.6% from 841 in May of last year. May 2010 Inventory was at its lowest level compared with May of 2009 and 2008.

 The Median Sales Price in May was $288,250, down -8.9% from $316,500 in May of 2009 and down - 0.1% from $288,500 last month.

The Average Sales
Price in May was $341,361, down -13.7% from $395,771 in May of 2009 and up 5.7% from $322,853 last month. May 2010 ASP was at the lowest level compared to May of 2009 and 2008. May Property sales were 84, up 35.5% from 62 in May of 2009 and -12.5% lower than the 96 sales last month. May 2010 sales were at their highest level compared to May of 2009 and 2008. May YTD sales

of 308 are running 68.3% ahead of last year's year to date sales of 183.  A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The May 2010 MSI of 9.3 months was at its lowest level compared with May of 2009 and 2008.

 The Selling Price vs Original Listing Price reveals the average amount that Sellers are agreeing to come down from their original list price. The lower the ratio is below 100% the more of a Buyer's market exists, a ratio at or above 100% indicates more of a Seller's market. The May 2010 Selling Price vs Original List Price of 89.0% was down from 89.3% last month and up from 87.3% in May of last year.

The average Days On Market (DOM) shows how many days the average Property is on the market before it sells. An upward trend in DOM tends to indicate a move towards more of a Buyer's market, a downward trend a move towards more of a Seller's market. The DOM for May was 82, down -12.8% from 94 days last month and down -18.8% from 101 days in May of last year. The May 2010 DOM was at its lowest level compared with May of 2009 and 2008.

 

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