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Home sales rise

Home sales rose substantially in Evanston last month.


Home sales rose substantially in Evanston last month.

The North Shore Barrington Association of Realtors says 60 condos and townhouses and 52 detached single family homes sold in Evanston in July.

That’s up from 30 condos and 30 detached single family homes in June.

But selling prices for homes dropped. The median selling price of a condo was $241,250 last month, compared to $291,000 in June. The median selling price of a detached single family home was $479,500 compared to $497,500 in June.

It took less time for houses to sell last month. Condos that sold in July had on average been on the market for 150 days, compared to 164 days in June. The average for detached single family homes was 147 days in July, compared to 176 days in June.

For the year so far, the average selling price for a condo in Evanston has been $303,812, down from $331,140 in 2009 and $327,585 in 2007. The average selling price for a detached single family home so far this year has been $555,237, down from $674,143 in 2008 and $673,792 in 2007.

The average selling price is determined by dividing the total of all sales values by the number of sales. The median selling price is the midpoint in a distribution of prices from low to high. For houses, median prices tend to be lower than average prices because a relatively small number of very high-priced homes raise the average.

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