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 November 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

$411,905

$293/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$35,142(+9.3%)

Key Takeaway

Homes in Evanston have sold for 9.3% more than they did a year ago.

Summary: The median home sold price in Evanston was $411,905 in November 2024, up 9.3% from last year, and the median price per square foot was $293.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $173.4K$220K
+26.8%
2 $276.4K$322.5K
+16.7%
3 $489K$485K
-0.8%
4 $810K$758.2K
-6.4%
5+ $942.5K$1.0M
+14.6%

Summary: Evanston housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 26.8%, 2 bedroom homes increased by 16.7%, 3 bedroom homes decreased by 0.8%, 4 bedroom homes decreased by 6.4%, and 5+ bedroom homes increased by 14.6%.

Median Sold Price Compared To Nearby Cities

Evanston Township
+9.4%
Evanston
+9.3%
Skokie
+8.0%
Wilmette
+6.6%
Niles Township
+6.6%

Housing Supply in Evanston, IL

How many homes are available in Evanston, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
204177-13.2%

Summary: The Evanston real estate market had 177 homes for sale in November 2024, a 13.2% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 2618
-30.8%
2 6752
-22.4%
3 5651
-8.9%
4 2326
+13.0%
5+ 3230
-6.3%

Summary: The Evanston housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 30.8%, 2 bedroom homes decreased by 22.4%, 3 bedroom homes decreased by 8.9%, 4 bedroom homes increased by 13%, and 5+ bedroom homes decreased by 6.3%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
7046-34.3%

Asking Price vs. Sold Price

27 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

15 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Evanston, you may be able to get a good deal. 58.7% of homes here sold below asking price last month.

Summary: A total of 46 homes were sold or pending in Evanston in November 2024, down by 34.3% month-over-month. Of the 46 sold homes, 59% were sold under asking, 9% were sold at asking, and 33% 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

Nov 2023Nov 2024CHANGE
29 Days23 Days-19.5%

Summary: Homes in Evanston had an average of 23 days on market in Nov 2024, down by 19.5% compared to last year.

Breakdown of Home Sale Times

33 Homes Were Sold
Under 30 Days

10 Homes Were Sold
In 30 - 90 Days

3 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 November 2024, 46 homes were sold in Evanston; 72% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 7% 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 17 Days Ago

Newest Listings in Evanston, IL

Nearby Markets to Evanston, IL

What housing markets are near Evanston, IL?