Evanston IL Real Estate Market Action Report December 2010
Evanston November Property sales were 51, down -25.0% from 68 in November of 2009 and 4.1% higher than the 49 sales last month. November 2010 sales were at a mid level compared to November of 2009 and 2008. November YTD sales of 696 are running 9.4% ahead of last year's year-todate sales of 636.
The Median Sales Price in November was $315,000, up 21.4% from $259,500 in November of 2009 and up 8.6% from $290,000 last month. The Average Sales Price in November was $384,881, up 21.7% from $316,157 in November of 2009 and up 3.1% from $373,192 last month. November 2010 ASP was at a mid range compared to November of 2009 and 2008.
The Total Inventory of Properties available for sale as of November was 629, down -5.8% from 668 last month and down -12.0% from 715 in November of last year. November 2010 Inventory was at the lowest level compared to November of 2009 and 2008. The November 2010 Months Supply of Inventory of 12.3 months was at a mid range compared with November of 2009 and 2008. A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers.
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 for
November was 122, up 7.0% from 114 days last month and up 15.1% from 106 days in November of last year. The November 2010 DOM was at a mid range compared with November 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
November 2010 Selling Price vs Original List Price of 87.1% was up from 86.3% last month and down from 88.9% in November of last year.
The number of New Listings in November 2010 was 84, down -27.6% from 116 last month and down -32.8% from 125 in November of last year.


Comments