Sunday, November 16, 2014

Condominium prices in Evanston, IL 60201 are rising and days on the market are going down

This week real estate appraiser Michael Walsh takes a look at the condominium market in the City of Evanston using statistics from Midwest Real Estate Data the MRED MLS and finds condominium prices on the rise and marketing time down.

According to the MLS in the last 30 days there were 59 new listings for Attached Homes & Condominiums, there were 38 closed sales and 44 listings went under contract.

In the last twelve months the median sales price for One-Unit Housing increased +15.3%, average marketing time declined -41.1% to 83 days on the market, and there is currently a 4.0 month supply of inventory. This level is considered in balance. REO & Short Sales account for approximately 12% of total sales.

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