JANUARY 2025 — Evanston Market Update

The sharpest, clearest look at what’s really happening in Evanston housing right now.

January came in hot — and no, I’m not talking about the weather. Evanston’s real estate market kicked off 2025 with tight inventory, strong price growth, and twice as many closed sales as last January for single-family homes. If you’re a data nerd (don’t worry, I am), you’ll see exactly why buyers and sellers should be paying attention.

Let’s break it down.

🔍 Detached Single-Family Homes

(Your classic Evanston houses — from bungalows to beauties east of Chicago Ave.)

🔥 The headline:
Closed sales doubled compared to January 2024.

Here’s what actually happened:

• New Listings: 24 (same as last year — zero change)

• Under Contract: 13 (down 45.8%)

• Closed Sales: 18 (up 100%)

• Median Sales Price: $889,000 (+17% YoY)

• Average Sales Price: $912,389 (+23.1%)

• Percent of Original List Price Received: 101.1%

• Average Market Time: 70 days (up from 42)

• Inventory at Month End: 24 homes (down 33.3%)

What this means:
Prices are rising sharply, demand is still strong, but buyers are taking longer to pull the trigger. Low inventory keeps sellers in control — especially for updated homes. If you have a well-maintained single-family home, it’s basically a golden ticket right now.

🏢 Attached Homes (Condos & Townhomes)

(AKA: a huge part of Evanston’s housing stock and still extremely popular with first-time buyers.)

🔥 The headline:
Prices jumped dramatically while inventory remains tight.

Here’s the snapshot:

• New Listings: 35 (down 30%)

• Under Contract: 24 (down 25%)

• Closed Sales: 18 (up 5.9%)

• Median Sales Price: $362,500 (+17.7%)

• Average Sales Price: $397,989 (+31.3%)

• Percent of Original List Price Received: 99.1%

• Average Market Time: 56 days (up from 35)

• Inventory at Month End: 32 homes (down 23.8%)

What this means:
Condos are appreciating quickly — faster than most people realize. And with fewer units coming on the market, buyers have to compete for the good ones. Days on market grew, but that often reflects holiday timing more than true buyer fatigue.

📈 The Bottom Line for Evanston (All Properties Combined)

Across detached + attached homes:

• Inventory is shrinking

• Prices are rising (double-digit growth YoY)

• Closed sales held strong

• Buyers are still active, just more deliberate

• Sellers with turnkey homes are getting top-tier results

This market is not cooling — it’s recalibrating. The buyers are serious, the sellers are selective, and Evanston continues to outperform many nearby suburbs in both appreciation and demand.

🗣️ Allie’s Takeaway

Evanston kicked off 2025 with momentum. If you’re planning to sell this spring, your prep window is right now. Low inventory + rising prices is a sweet spot that doesn’t last forever — especially when buyers are willing to stretch for homes that are move-in ready.

If you’re buying, don’t let winter fool you. The serious competition is already here, and the data proves it.

📞 Want a custom breakdown for your block or building?

Let’s talk. I’ll pull a personalized report and help you understand exactly where your home sits in today’s market.

Allie Payne Group
Experience. Strategy. Results.