Sales of condominiums and lofts in Evanston rose in September, possibly signaling an end to the slump in the real estate market in the area. High sales were fueled by strong demand for condos on the low end of the market.

According to MLS data for the month, a total of 51 condos and lofts were sold in Evanston in September, up more than 10 percent from the same period a year ago. Sales were still off the high of 61 units sold during September 2006. Demand for condos priced under $250,000 was up by nearly 40 percent during the month, while sales of condos priced at over $500,000 plunged by 50 percent.

This led to a significant drop in the average sales price in September. According to sales data from the MLS, the average sales price in September fell to $293,337, a 21 percent drop in prices from the same period last year. It was also slightly lower than the average sales price of $294,007 seen in September 2006.

Buyers could continue to see some great deals in the short term in Evanston. Browse through the best North Shore Chicago Condos on the market today.

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This entry was posted on Saturday, October 4th, 2008 at 12:36 pm and is filed under Evanston Real Estate(t) . You can leave a response.