Evanston IL Real Estate Market Action Report November 2010
The Total Inventory of Properties available for sale as of October was 681, down 10.0% from 757 last month and down 9.6% from 753 in October of last year. October 2010 Inventory was at its lowest level compared with October of 2009 and 2008.
The October 2010 Months Supply of Inventory of 13.6 months was at a mid level compared
with October of 2009 and 2008. A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers.
The Median Sales Price in October was $289,500, up 22.2% from $237,000 in October of 2009 and up 3.4% from $280,000 last month. The Average Sales Price in October was $369,858, up 16.1% from $318,618 in October of 2009 and up 8.6% from $340,567 last month. October 2010 ASP was at a mid range compared to October of 2009 and 2008.
October Property sales were 50, down 10.7% from 56 in October of 2009 and 25.4% lower than the 67 sales last month. October 2010 sales were at their lowest level compared to October of 2009 and 2008. October YTD sales of 686 are running 20.8% ahead of last year's year-to-date sales of 568.
The average Days On Market (DOM) is 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 forOctober was 115, up 38.6% from 83 days last month and down 2.5% from 118 days in October of last year. The October 2010 DOM was at a mid level compared with October of 2009 and 2008.
The Selling Price vs Original Listing Price is 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 October 2010 Selling Price vs Original List Price of 86.3% was down from 91.2% last month and down from 88.0% in October of last year.
The number of New Listings in October 2010 was 116, down 34.8% from 178 last month
and down 18.9% from 143 in October of last year.


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