Central Street Neighbors Association

Contrary to poplular belief 2008 saw nearly as many single family homes sell as 2007. The 2009 average sold prices look low right now, but one must remember that much of the properties which closed in January were foreclosures that sold in Nov and Dec. 2008
 
The affordability of homes has increased and with the lower interest rates,  buyers have found that they were able to buy larger homes for less money that in the peak of the 2005-2006 markets. Sellers moving up may take advantage of the better prices.
 
The Condo market was difficult for sellers, as many of the the 1st time buyers could not be in the market because the 85-95% mortgages were difficult or unavailable, even if the buyer were well qualified to meet the monthly obligation. There is still a high inventory of condos and buyers who are well qualified may find some great deals out there. 
 
Evanston has been the overall strongest market on the North Shore due to it's diverse housing stock. Investors and contractors should be looking at some of the rehabs and multi family properties.
  

2009

Single Family Homes

Currently Available
263

# Under Contract
35

Under contract median
430,000

under contract avg ask price
541,000

# Sold
13

Median Sales Price
360000

Avg Sales Price
415,472

Ave Market Time days
125

Condos

#Available
488

#Under Contract 
50

Sold
18

Median sales price
256,750

Avg Sales Price
304,068

Avg Market Time
167 day

             2008

Single Family Homes

# Sold
347

Median Sales Price
543,500

Avg Sales Price
617,000

Ave Market Time days
134

Condos

2008

Sold
422

Median sales price
270000

Avg Sales Price
300,299

2007

Single Family Homes

# Sold
368

Median Sales Price
550,000

Avg Sales Price
655,943

Ave Market Time days
114

Condos 2007

Sold
670

Median sales price
284,500

Avg Sales Price
325,121