Evanston Real Estate Market Update – July 2025

More listings, slower sales, and a market that’s quietly recalibrating.

July brought a noticeable shift in the Evanston real estate market — not a dramatic drop, not a boom, but a mid-summer recalibration that’s actually healthy. After massive price jumps in June, July presents a more balanced picture: more listings, slower closings, and buyers taking an extra beat before pulling the trigger.

If you’re trying to read the tea leaves for your next move in Evanston, July tells a very real story: demand is still strong, but buyers are being pickier — and pricing strategy matters more than ever.

Detached Homes (Single-Family)

A mixed month with rising new listings and fewer sales, but pricing remains strong.

Year-over-Year (July 2024 → July 2025):

• New Listings: 30 → 39 (+30.0%)

• Under Contract: 21 → 29 (+38.1%)

• Closed Sales: 43 → 31 (–27.9%)

• Median Sales Price: $750,000 → $740,000 (–1.3%)

• Average Sales Price: $890,523 → $878,989 (–1.3%)

• Percent of Original List Price Received: 99.7%

• Market Time: 34 → 37 days

What it means:
Detached homes saw more activity coming onto the market, but buyers weren’t as quick to jump as they were earlier in the spring. Contracts were up, which is a good sign, but closings lagged — a normal summer pattern when buyers travel, take “breaks,” or wait for fall inventory.

The small dip in pricing?
Not a trend — just the result of fewer luxury sales compared to June’s blowout numbers.

The big takeaway?
Sellers need strong pricing accuracy. Buyers have a little more breathing room, but well-prepped homes still move.

Attached Homes (Condos + Townhomes)

Another strong month — and honestly, the star of July.

Year-over-Year (July 2024 → July 2025):

• New Listings: 58 → 64 (+10.3%)

• Under Contract: 44 → 42 (–4.5%)

• Closed Sales: 52 → 41 (–21.2%)

• Median Sales Price: $320,000 → $395,000 (+23.4%)

• Average Sales Price: $343,744 → $509,688 (+48.3%!)

• Percent of List Price Received: 98.5% → 101.3%

• Market Time: 36 → 20 days

What it means:
The condo market is cruising at top speed. Even with more new listings, pricing is surging — and that 48% jump in average price means a lot of higher-end units changed hands this month.

Condos are drawing:

• Chicago buyers wanting more space

• Empty nesters who want walkability + convenience

• Investors looking for stable returns

• First-time buyers moving fast to lock something in

With units selling in about three weeks, attached homes remain one of the most competitive segments in Evanston real estate.

Inventory Snapshot

• Detached Inventory: 41 → 36 (–12.2%)

• Attached Inventory: 43 → 49 (+14.0%)

Buyers have slightly more options in the condo market, but single-family homes remain in short supply — which keeps long-term pricing strength intact.

What Buyers Should Know

This is your “Goldilocks moment.”
Not too hot. Not too cold. Just right.

You get:

• More choice than spring

• Less chaos than May/June

• Still-beneficial interest rates

• Motivated (but not desperate) sellers

But don’t let the softer summer vibe fool you — the Evanston market is still competitive, especially near the lake, walkable neighborhoods, and properties in turnkey condition.

What Sellers Should Know

Pricing matters more than ever in July.
So does prep.
So does presentation.

Homes that come out looking sharp — professionally prepped and priced with intention — still attract strong offers. Homes that skip key prep steps sit, and buyers smell opportunity.

If you’re planning a fall sale, July’s data is your sign to start prepping now.