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Evanston Real Estate Market Trends and Property Prices [Feb 2024 Update]

Evanston real estate market trend
Table of Contents

Welcome to our comprehensive overview of the Evanston real estate market trend. Nestled in Calgary, Evanston has rapidly become a sought-after locale, offering a unique blend of residential charm and vibrant community life.

Understanding the dynamics of market trends and property prices in this area is crucial for anyone looking to make an informed real estate decision.

Whether you’re a first-time homebuyer, a seasoned investor, or simply curious about the local market, this article aims to provide you with valuable insights into Evanston’s real estate landscape, highlighting its significance and the purpose of the article.

Evanston Housing Market Trend

Recently, the Evanston real estate market has demonstrated remarkable resilience and dynamism. Analysis of prevailing trends reveals a healthy balance between buyer and seller activities, with a notable demand for single-family homes and modern townhouses

Broader national and regional economic conditions significantly influence market dynamics. Factors such as interest rates, employment rates, and economic policies play a pivotal role in shaping the local real estate environment.

Evanston Real Estate Statistics

A glance at the latest statistics reveals a vibrant market with diverse offerings:

  • Real Estate: The listing of 19 properties showcases the variety available to potential buyers.
  • Highest Price: The market’s peak is a staggering $5,390,000.00, highlighting the presence of luxury real estate.
  • Lowest Priced: Entry-level options start at $425,000.00, providing opportunities for first-time buyers.
  • Average Price: Sitting at $963,047.26, the average price point reflects the market’s overall health and diversity.
  • Land: With a single land listing, there’s potential for custom development.

Updated: February 17th, 10:20am

Evanston Property Prices Update

The Evanston property market has experienced notable fluctuations over recent periods, with current average prices serving as evidence of the area’s desirability.

Comparing today’s median list price of $754,950 with past figures illustrates a market that responds to both local and broader economic shifts.

Factors such as economic indicators, local developments, and interest rates continue to exert influence on property prices, rendering Evanston a dynamic real estate landscape.

Today1 Month Ago6 Month Ago
Median List Price754,950760,000743,950
Median $/Sqft395385366
More information from the Farm Real Estate Website on the latest property prices in Evanston, including average prices for various types of properties and price trends over recent periods.

Impact of Local Developments on Evanston’s Real Estate

Local Developments Photo Collag

Recent and upcoming local developments partly account for Evanston’s allure. Infrastructure projects and community initiatives play a significant role in enhancing the neighbourhood’s appeal, subsequently impacting property values.

These developments not only elevate the quality of life for residents but also make Evanston an increasingly attractive option for prospective buyers, thereby exerting a positive influence on the real estate market.

Evanston Real Estate Market Forecast

Looking ahead, the future of Evanston’s real estate market appears promising, with expert opinions and market analyses suggesting a continuation of current trends and potential for growth and stability. Experts expect single-family homes to continue to be in high demand.

  • The median list price of single-family homes in Evanston was $763,413 in January 2024, compared to $742,510 in December 2023, indicating a month-over-month increase of 2.82%.
  • Townhomes in Evanston saw a month-over-month increase in median list price from $447,627 in December 2023 to $465,532 in January 2024, marking a 4% uptrend.
  • Overall, the median list price of homes in Evanston rose from $698,160 in December 2023 to $748,311 in January 2024, showcasing a 7.18% month-over-month increase.

These trends point towards a flourishing market. However, potential challenges such as economic fluctuations and interest rate adjustments could impact market dynamics. Nevertheless, opportunities abound for those ready to navigate the evolving landscape.

Conclusion

Vibrant trends and significant updates characterize the real estate market in the Evanston neighbourhood. From the rise in property prices to the impact of local developments, Evanston remains a key player in Calgary’s real estate scene.

For stakeholders in the Evanston real estate market, staying informed and adaptable will be crucial in leveraging this dynamic neighbourhood’s opportunities.

Nathan Singh

Nathan Singh

Nathan Singh, Greater Property Group's managing partner, offers expert insights into Canada's real estate, covering Toronto, BC, and Alberta. Fluent in English and French, his comprehensive articles go beyond typical sales pitches, highlighting his achievements in sales, management, and client service. Nathan's role as a trusted advisor and closer is evident, providing nuanced, practical advice for navigating Canada's diverse property market.

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