Evanston Real Estate Market Update – June 2025

Big price jumps, tight inventory, and a tale of two markets.

June didn’t come to play. Evanston real estate lit up with some of the biggest price gains we’ve seen all year — especially in the single-family market — even as inventory tightened and buyer behavior shifted. If May was warm, June was a full-on heatwave.

In short: demand is steady, supply is tight, and well-prepped homes are still drawing serious attention. Whether you're buying or selling in Evanston, June’s data tells a very clear story — and it’s one you want an expert guiding you through.

Detached Homes (Single-Family)

This segment exploded — in the best way.

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

• New Listings: 50 → 42 (–16%)

• Under Contract: 39 → 37 (–5.1%)

• Closed Sales: 36 → 55 (+52.8%)

• Median Sales Price: $765,000 → $1,150,000 (+50.3%!)

• Average Sales Price: +32.3%

• Percent of Original List Price Received: 103.7% → 101.6%

• Market Time: 18 → 40 days

What it means:
Let’s just call it: Evanston luxury real estate flexed hard in June. A median price jump of over 50% year-over-year is wildly uncommon — and it reflects a mix of high-end closings, limited supply, and continued buyer demand from both Chicago and the North Shore.

Market time did rise, but that’s typical when high-price homes make up a larger share of the month’s closings. Luxury buyers move differently — inspections, attorneys, and due diligence stretch timelines.

The bigger headline?
Low supply + high demand = strong pricing power for sellers.

Attached Homes (Condos + Townhomes)

High demand and tight inventory made this segment shine too — just without the fireworks of the single-family market.

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

• New Listings: 58 → 66 (+13.8%)

• Under Contract: 54 → 40 (–25.9%)

• Closed Sales: 55 → 58 (+5.5%)

• Median Sales Price: $319,000 → $346,500 (+8.6%)

• Average Sales Price: +8.9%

• Percent of List Price Received: 100.9% → 103.4%

• Market Time: 29 → 14 days (–51.7%!)

What it means:
Condos are basically speed-dating right now — and everyone’s getting a match. The drop in market time is astonishing, and it underscores how appealing Evanston condos have become to:

• First-time buyers jumping out of Chicago’s prices

• Empty nesters staying local

• Investors quietly scooping up units

Even with more listings hitting the market, the demand swallowed them whole.

Inventory Snapshot

• Detached Inventory: 43 → 33 (–23.3%)

• Attached Inventory: 41 → 53 (+29.3%)

Detached homes remain scarce, which keeps prices elevated and competition sharp. Attached homes have a bit more breathing room — but not enough to cool the market.

What Buyers Need to Know

This is a market where preparation wins. In Evanston, especially in the luxury segment, buyers should expect:

• Limited options

• Competitive pricing

• Quick decisions

• A need for sharp strategy

A pre-approval alone won’t cut it — you need local guidance and the ability to move fast when the right home appears.

What Sellers Need to Know

If you’re selling a single-family home in Evanston, June’s numbers should make you smile.
If your home is prepped, staged, and priced correctly, this is a powerful moment to list — especially for luxury and move-in-ready properties.

Condos? Also strong. Fast-moving. Seller-friendly.

In other words: if you’ve been waiting for the “right time,” June is the universe tapping you on the shoulder.