Quantcast

Home prices rise but sales slow

Fewer single family homes and condos have sold in Evanston this year, but prices have continued to rise.

Average selling price

Based on multiple listing service data released by the North Shore Barrington Association of Realtors, the average price of single-family homes sold in Evanston during the first nine months of this year was $655,438, up 5.06 percent from the same period last year.

The average price of condos sold in Evanston so far this year was $329,114, up 6.58 percent from the same period in 2006.

Across the total area served by NSBAR, the average-single family home sold for $518,028, up 5.4 percent from the year-ago period, and the average condo sold for $330,837, up 7.64 percent.

But just 322 single family homes sold in the first nine months of this year in Evanston, down 13.9 percent from the same period a year ago. And condo sales were down 14.9 percent to a total of 473.

By comparison, for the NSBAR area as a whole, single family home sales were down 19.3 percent and condo sales were down 11 percent.

Days on market

The time it takes for a property to sell has also increased. Evanston single family homes have taken an average of 119 days to sell this year, up 88.9 percent from a year ago, while condo sales have taken an average of 150 days, an increase of 22.9 percent from a year ago.

For the NSBAR region as a whole, the average market time for a single family home is now 138 days, up 51.6 percent from a year ago, while the average market time for a condo is 118 days, up 31.1 percent from a year ago.

Editors’ Picks