For a quick 1 min video update of the Evanston Market click the photo below. For a more detailed analysis scroll the rest of this post.
Evanston inventory in the $300k-700k pricepoint is down 5% which is good news for sellers that the market is no longer over saturated in most price points. Number of properties sold is up 13% from last May. Even more exciting than that, the number of properties sold is up 20% year to date from 2014 year to date. Sales prices though across the board are down 4% for the year. I would attribute this to very low inventory last year and a bit more saturation this year.
Above is a market snapshot of the $300k-700k price point. Below is a look at what it happening market wide in Evanston.
Evanston is appreciating in all pricepoints except the $900K-1M range and the $2M + range. The strongest pricepoint where demand is the highest for current inventory is $300-500k. The $1M-1.5M range is recovering from an oversaturated inventory earlier this year but inventory still remains higher than usual.
The yellow line represents 2015 sales per month versus the prior 4 years. While May numbers did not quite reach the boom of 2013 that we saw, they did exceed last year.
If you would like a detailed analysis of your micro market and a comparative market analysis for your home please contact me anytime!