Evanston IL Real Estate Market Action Report February 2011
Evanston's January Property sales were 31, down -6.1% from 33 in January of 2010 and -36.7% lower than the 49 sales last month. January 2011 sales were at a mid level compared to January of 2010 and 2009. January YTD sales of 31 are running -6.1% behind last year's year-to-date sales of 33.
The Median Sales Price in January was $230,000, down -34.3% from $350,000 in January of 2010 and down -25.8% from $310,000 last month. The Average Sales Price in January was $307,450, down -35.0% from $472,712 in January of 2010 and up 1.1% from $304,210 last month. January 2011 ASP was at the lowest level compared to January of 2010 and 2009.
The Total Inventory of Properties available for sale as of January was 567, down -5.5% from 600 last month and down -19.6% from 705 in January of last year. January 2011 Inventory was at the lowest level compared to January of 2010 and 2009.
The January 2011 Months Supply of Inventory of 18.3 months was at its lowest level compared with January of 2010 and 2009.A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The January 2011 MSI of 18.3 months was at its lowest level compared with January of 2010 and 2009.
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 January was 82, down -2.4% from 84 days last month and down -26.1% from 111 days in January of last year. The January 2011 DOM was at its lowest level compared with January of 2010 and 2009.
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 January 2011 Selling Price vs Original List Price of 87.8% was up from 87.7% last month and down from 88.9% in January of last year.
The number of New Listings in January 2011 was 110, up 64.2% from 67 last month and down -24.7% from 146 in January of last year.
MARK
Categories: Chicago North Shore Home Prices, Evanston IL Real Estate, Chicago Home Sales, Chicago North Shore Real Estate
Tags: Buying an Evanston IL Home Real Estate Selling your Home Evanston ILHome Prices
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