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Property sales in Evanston, as reported by the city’s real estate transfer tax receipts, slipped last month with the value of sales down sharply and the number of transactions down slightly.

The transfer tax raised $95,260 last month, compared to $120,280 in January. The February figure was also below the five-year average for the month of $106,464.

Fifty-one properties changed hands in non-exempt transactions last month, compared to 52 in January and 57 in February a year ago.

Only three properties brought sales prices of more than $1 million last month.

  • The property at 1901 Dempster St., recently renovated from a Kentucky Fried Chicken to a Starbucks, sold for $1.78 million.
  • A five-bedroom colonial built in 2010 at 2806 Lincoln St., sold for $1.35 million
  • An Ernest Mayo-designed landmark home at 1225 Forest Ave. sold fro $1.05 million.

Bill Smith is the editor and publisher of Evanston Now.

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2 Comments

  1. Real Estate Sales are down because there’s NOTHING TO SELL!
    Real Estate Sales are down because inventory is down to the lowest level of the millennium! My team and I have been beating the bushes looking for folks who want to sell their homes.

    According to the MLS data service INFOSPARKS, we have only 3.8 months worth of inventory on the market. A “healthy” supply of homes in about 6 months worth of inventory. More than that and it’s a Buyer’s Market, less and it’s a Seller’s Market. 3.8 months is a strong seller’s market where demand exceeds supply.

    There were 318 properties on the market in February which, if nothing else were listed, would all be sold in 3.8 months given average rates of sales in Evanston. I’m looking at every type of property from studio condos to 8 bedroom waterfront mansions, and from co-ops to foreclosures and short sales. February is the most recent month for which the data is available.

    In a nutshell – if you want to Sell Your Home – this is the time to do it!

    1. This place kinda grows on you

      If you ever consider moving to another suburb or Chicago, it would be best to make a "pro/con" list of everything good and bad about living in Evanston.  After more than thirty years my pro list is still a lot longer than my con list.

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