Is Evanston, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Evanston is a seller's market

Buyer's
Market

Difference Since April 2023

Since last year, Evanston has remained a Seller's Market.

Key Takeaway

Evanston is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Evanston, IL

How much do homes in Evanston, IL cost?

Median Sold Price

$397,305

$280/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$17,097(+4.5%)

Key Takeaway

Homes in Evanston have sold for 4.5% more than they did a year ago.

Summary: The median home sold price in Evanston was $397,305 in April 2024, up 4.5% from last year, and the median price per square foot was $280.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $177K$180K
+1.7%
2 $270K$300K
+11.1%
3 $486.5K$493.8K
+1.5%
4 $776K$810K
+4.4%
5+ $915K$940K
+2.7%

Summary: Evanston housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1.7%, 2 bedroom homes increased by 11.1%, 3 bedroom homes increased by 1.5%, 4 bedroom homes increased by 4.4%, and 5+ bedroom homes increased by 2.7%.

Median Sold Price Compared To Nearby Cities

Wilmette
+6.9%
Skokie
+6.5%
Evanston
+4.5%
Evanston Township
+4.5%
Niles Township
+4.3%

Housing Supply in Evanston, IL

How many homes are available in Evanston, IL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
252284+12.7%

Summary: The Evanston real estate market had 284 homes for sale in April 2024, a 12.7% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 2223
+4.5%
2 97109
+12.4%
3 6468
+6.3%
4 3440
+17.6%
5+ 3544
+25.7%

Summary: The Evanston housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 4.5%, 2 bedroom homes increased by 12.4%, 3 bedroom homes increased by 6.3%, 4 bedroom homes increased by 17.6%, and 5+ bedroom homes increased by 25.7%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
6590+38.5%

Asking Price vs. Sold Price

37 Homes Were Sold
Under Asking

11 Homes Were Sold
At Asking

42 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Evanston, you could pay more than the asking price. 46.7% of homes here sold above asking price last month.

Summary: A total of 90 homes were sold or pending in Evanston in April 2024, up by 38.5% month-over-month. Of the 90 sold homes, 41% were sold under asking, 12% were sold at asking, and 47% were sold over asking.

Days on Market for Evanston, IL

How long does it take to sell a home in Evanston, IL?

Average Sale Time

Apr 2023Apr 2024CHANGE
24 Days31 Days+31.2%

Summary: Homes in Evanston had an average of 31 days on market in Apr 2024, up by 31.2% compared to last year.

Breakdown of Home Sale Times

67 Homes Were Sold
Under 30 Days

18 Homes Were Sold
In 30 - 90 Days

5 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Evanston are selling fast, if you're buying plan to act quickly.

Summary: During April 2024, 90 homes were sold in Evanston; 74% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 10 Days Ago

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