Evanston, IL

Evanston 's January Property sales were 38, up 18.8% from 32 in January of 2011 and -22.4% lower than the 49 sales last month. January 2012 sales were at their highest level compared to January of 2011 and 2010. January YTD sales of 38 are running 18.8% ahead of last year's year-to-date sales of 32.

The Median Sales Price in January was $317,000, up 39.3% from $227,500 in January of 2011 and up 5.3% from $301,000 last month. The
Average Sales Price in January was $411,668, up 36.8% from $300,967 in January of 2011 and up 14.8% from $358,730 last month. January 2012 ASP was at a mid range compared to January of 2011 and 2010.

The Total Inventory of Properties available for sale as of January was 442, down -4.5% from 463 last month and down -26.5% from 601 in January of last year. January 2012 Inventory was at the lowest level compared to January of 2011 and 2010.

The January 2012 Months Supply of Inventory of 11.6 months was at its lowest level compared with January of 2011 and 2010. A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers.

The average Days On Market (DOM) is how many days the average Property is on the Market before it sells. An upward trend in DOM tends to indicate a move towards more of a Buyer's market, a downward trend a move towards more of a Seller's market. The DOM for January was 136, up 23.6% from 110 days last month and up 65.9% from 82 days in January of last year. The January 2012 DOM was at its highest level compared with January of 2011 and 2010.

The Selling Price vs Original Listing Price is the average amount that Sellers are agreeing to come down from their original list price. The lower the ratio is below 100% the more of a Buyer's market exists, a ratio at or above 100% indicates more of a Seller's market. The January 2012 Selling Price vs Original List Price of 87.2% was down from 88.2% last month and down from 87.4% in January of last year.

The number of New Listings in January 2012 was 101, up 173.0% from 37 last month and down -8.2% from 110 in January of last year.

Evanston's December Property sales were 45, down -10.0% from 50 in December of 2010 and -11.8% lower than the 51 sales last month. December 2011 sales were at their lowest level compared to December of 2010 and 2009. December YTD sales of 708 are running -10.0% behind last year's year-to-date sales of 787.

The Median Sales Price in December was $286,500, down -6.1% from $305,000 in December of 2010 and up 44.7% from $198,000 last month. The Average Sales Price in December was $355,340, up 17.7% from $301,926 in December of 2010 and up 39.5% from $254,729 last month. December 2011 ASP was at highest level compared to December of 2010 and 2009.

The Total Inventory of Properties available for sale as of December was 447, down -16.1% from 533 last month and down -28.1% from 622 in December of last year. December 2011 Inventory was at the lowest level compared to December of 2010 and 2009.

The December 2011 Months Supply of Inventory of 9.9 months was at its lowest level compared with December of 2010 and 2009. A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers.

The average Days On Market (DOM) is how many days the average Property is on the Market before it sells. An upward trend in DOM tends to indicate a move towards more of a Buyer's market, a downward trend a move towards more of a Seller's market. The DOM for December was 91, up 16.7% from 78 days last month and up 11.0% from 82 days in December of last year. The December 2011 DOM was at mid range compared with December of 2010 and 2009.

The Selling Price vs Original Listing Price is the average amount that Sellers are agreeing to come down from their original list price. The lower the ratio is below 100% the more of a Buyer's market exists, a ratio at or above 100% indicates more of a Seller's market. The December 2011 Selling Price vs Original List Price of 87.6% was down from 89.0% last month and down from 87.7% in December of last year.

The number of New Listings in December 2011 was 34, down -54.1% from 74 last month and down -49.3% from 67 in December of last year.

Okay, this morning, I performed the most sacred of our civic duties. I voted. And now I'm on my way to Starbucks, who's offered a free cup of Joe (no, not Joe the Plumber) for all those who've voted.

My daughter called me early this morning to remind me of the importance of voting... (and since I live in the Chicago area, the sound byte that resonates in my ear is "Vote Early, Vote Often"!).

I could hear, in her voice, her excitement, her fervor for the process. She was excited, she was invigorated. My wife is off work, this afternoon, and plans on spending the afternoon volunteering for her candidate in the party's office, making phone calls (on her own cell phone) reminding people to get out and vote.

My wife is emotional about this election... she was almost teary-eyed, as she explained how long she waited in line, who she talked to while she was at the polls... the atmosphere at the polling place. Charming.

This is not about which candidate you support. This is not about whether your candidate wins or loses (at least this POST is not about that). This is about exercising your right to vote for the candidate of your choice. There are many countries in the world, where people are still fighting for the right to vote. Still spilling blood over what we take for granted.

Don't sit back, presuming you know the outcome already. Don't sit back, because you're not in a battleground state, and therefore your vote won't count. Make your voice heard.... get out there and press that button, punch that ballot, and set an example for the rest of the world.

VOTE. It's your right, it's your duty, it's your privilege.

BLACK FRIDAY

It sounds bad, doesn't it? We talk about things in colours - Friday was the blackest of days. But it doesn't make a lot of sense, does it? Since Black Friday is one of the very best days for retailers? You'd think they would call it Golden Friday, or Green Friday (for the colour of money).

So where did the term come from? Well, it seems to have originated in the early 1960's in Philadelphia, where the day after Thanksgiving turned out to be such a busy day that the police department was called upon to work 12-hour shifts. And the rank and file gave it a negative and memorable name ... "Black Friday".

So it began a negative...but Philadelphia retailers didn't care for the ongoing negative name... and tried to change it to BIG Friday... it didn't catch on. Not as provocative as Black Friday.

But retailers have recently glommed onto the term, and are turning it around into "Black Ink" Friday, referring of course to the massive profits to be made on one of the busiest shopping days of the year.

I'm sure many of you sat in line early this morning, to buy overpriced, then discounted, poor quality products... Ahh, ain't this a great country??

Homes for Sale in Evanston (November 2011)

Upscale homebuyers are discriminating and careful. They want the best home the North Shore has to offer, but they won’t pay more for a house than its fair market value.

If you’re a homebuyer looking for a great deal on Chicago’s North Shore, look for properties where the homeowners are motivated.

One indicator of motivation is market time … how long the property has been for sale.

Another sign of motivation is by comparing current list price to original list price (% PCH – OLP) and determining how much the price has declined. The greater the price deduction, the more the homeowners have settled into the realities of the market place.

Usually long Market Time (MT) and big Price Changes go hand-in-hand … but not always since homeowners who understand the value of their house from the get-go are willing to wait for the right offer.

Below is a sample of homes currently for sale in Evanston.

Data provided by the Midwest Real Estate LLC (MRED) multiple listing service and includes properties listed and sold by various participants in the MLS. Data supplied does not reflect all market activity in the area.

It’s Judy … your North Shore Chicago real estate agent.