Market Conditions in 60202>Question Details

Jane, Other/Just Looking in Evanston, IL

What is the average asking and selling price for a 2 bedroom, 2-1/2 bath, 2400 square foot home (either?

Asked by Jane, Evanston, IL Fri Jun 13, 2008

single family or condo) in the 60202 area?

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5
Oh, I see, I misunderstood your firt post, so one would assume that the owners of the houses currently on the market with these characteristics are smoking to much weed, lol.

Sorry Jane for hijacking your thread.
0 votes Thank Flag Link Wed Jun 18, 2008
Evan,
You bring up a very good point. Out of the 6 homes that actually sold and closed, 1 of the homes sold for $1,000 over the asking price, 3 of them sold for 95% of the asking price, 1 sold for 98% and the other home sold for 97%.

This is where home sellers, in this buyer's market, need to realize that if your home is priced to high their going to have a hard time selling. The average asking price "now" is $424,000. The average asking price of the homes that sold were $363,000. What does that tell you?

Good question and hopefully my answer helped.
0 votes Thank Flag Link Wed Jun 18, 2008
Brandon,

Wow, is it normal that the selling price is just 83% of the asking? I was expecting more like a 10% discount, were there outliers (a home that sold for much much less than the asking and is lowering the mean) or pretty much all 6 homes sold from 15 to 20% less than asking?
0 votes Thank Flag Link Tue Jun 17, 2008
According to the MLS, over the past 12 months there's been 6 homes that sold and closed, that are close to your criteria. The average sold price was $350,667. The average asking price, right now, is $424,000.
0 votes Thank Flag Link Fri Jun 13, 2008
The zip code you are referring to is in Evanston. This is a very diverse area. I could get you an avg. price for the area, but it won't be a very good indication as prices can very greatly depending on your location in Evanston. Was there a particular area of Evanston you are referring to? You can check out recent home sales data on my website though and it even gives you the market pulse (median price), http://illinoisrealestate.public-record.com/realestate/
0 votes Thank Flag Link Fri Jun 13, 2008
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