Micro Market Review: Year 2015

2015 is finally coming to a close and it’s time again to see how the year did in relation to 2014 statistics. The review is for a micro market review of Evanston and Wilmette Communities. Statistics are from all sales posted up to December 29, 2015 a couple of days before the end of the year.

I have included both Single Family and Attached closed statistics for each community.

Year 2014: Single Family

City # Closed Avg. Sold Price Avg. Days on Mkt. % Increase/ Decrease
Evanston 424 $525,432 71 0
Wilmette 368 $861,219 58 0

Year 2015: Single Family

City # Closed Avg. Sold Price Avg. Days on Mkt. % Increase/ Decrease
Evanston 485 $576,526 81 9%
Wilmette 358 $852,961 72 0

Summary:

All year agents were complaining about low inventory but in reality the number of homes sold was the same for single family homes for the past two years. Evanston prices actually increased 9% while Wilmette remained about the same. Wilmette’s average home prices however are much higher than Evanston. The average market time was also the same for the past two years.

 

Yr 2014: Attached

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City # Closed Avg. Sold Price Avg. Days on Mkt. % Increase/ Decrease
Evanston 548 $260,949 89 0%
Wilmette 95 $335,373 114 0%

Year 2015 Attached

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City # Closed Avg. Sold Price Avg. Days on Mkt. % Increase/ Decrease
Evanston 637 $258,292 92 0%
Wilmette 83 $341,445 109 1%

Summary:

Attached properties include both condo and townhouse sales.  Evanston has more attached homes than Wilmette. Inventory levels for Evanston were slightly better than Wilmette. However the  average sale price seems to be flat with no increase. Average days on market is also about the same.

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