Evanston IL Real Estate Market Action Report August 2010

The Total Inventory of Properties available for sale as of July was 740, down -4.0% from 771 last month and down - 7.4% from 799 in July of last year. July 2010 Inventory was at its lowest level compared with July of 2009 and 2008.

The Median Sales Price in July was $376,250, up 10.7% from $340,000 in July of 2009 and up 17.9% from $319,000 last month. The Average Sales Price in July was $396,028, down -4.4% from $414,270 in July of 2009 and down -3.1% from $408,861 last month. July 2010 ASP was at the lowest level compared to July of 2009 and 2008.

July Property sales were 58, down -50.0% from 116 in July of 2009 and -52.8% lower than the 123 sales last month. July 2010 sales were at their lowest level compared to July of 2009 and 2008. July YTD sales of 489 are running 35.8% ahead of last year's year-to-date sales of 360.

The July 2010 Months Supply of Inventory of 12.8 months was at its highest level compared with July of 2009 and 2008. A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers.


The Selling Price vs Original Listing Price shows 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 July 2010 Selling Price vs Original List Price of 91.0% was down from 92.3% last month and up from 90.5% in July 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 July was 80, down -1.2% from 81 days last month and

down -10.1% from 89 days in July of last year. The July 2010 DOM was at its lowest level compared with July of

2009 and 2008.

 

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