With just days left to go in the year, property transactions in Evanston are down 33 percent from last year.
The total value of property changing hands has declined by nearly 25 percent.
And the city is now likely to end up more than a million dollars short of the $3.7 million it expected to raise from the Real Estate Transfer Tax by the time its fiscal year ends in February.
Just 51 properties changed hands in November and 61 in October. The November number was up one from a year earlier, but the October number was down by 12.
Figures from the City Clerk’s office show that the average selling price was $430,945 in November and $380,790 in October — both figures were down by more than $100,000 from year-earlier levels.
Because commercial buildings are included in the real estate transfer tax data, it doesn’t provide a direct measure of the average value of single family homes sold.
Three properties in November, but none in October, changed hands for $1 million or more:
- A contemporary-style single-family home near the lakefront at 930 Edgemere Court sold for $1.65 million.
- A brick single-family home at 2315 Forestview Road sold for $1.24 million.
- A craftsman-style single-family home at 726 Milburn St. sold for $1.18 million