Published October 4, 2026 in Market Update

Evanston prices dipped even as homes still moved

By Thurston Gayle

Real estate, Evanston

The Federal Housing Finance Agency reported that U.S. house prices rose 2.6% from July 2025 to July 2026. Evanston did not follow that line. The Real Estate Data Aggregator counted more closings across all three ZIP codes, but median prices fell in each one. More activity did not mean higher prices. That is the fact every Evanston owner needs to sit with.

Prices fell in all three ZIP codes

The Real Estate Data Aggregator put the median sale price in 60201 at $535,000, down 10.1% from the same three months in 2025. In 60202 the median was $405,000, down 11.7%. In 60203 the median was $624,250, down 6.4%. All three fell while the national index climbed.

Sales rose anyway

More homes closed in every ZIP code. The Real Estate Data Aggregator counted 165 sales in 60201, 115 in 60202, and 18 in 60203. That last number is small, so the 63.6% gain there reflects a thin base. Still, the direction was up across the board.

Homes moved quickly and often above list

The Real Estate Data Aggregator showed that in 60201, homes sold at 104.3% of list on average, and 49.1% sold above list. Median days on market was 41, three days shorter than a year before. In 60202, the sale-to-list ratio held at 103.2%, unchanged from a year ago, and 49.6% of homes sold above list. Median days on market was 42, also three days shorter. In 60203, homes sold at 105.3% of list, up 5.4 points, and 61.1% sold above list, up 15.6 points. Median days on market there was 29, which was 13 days shorter than the year before.

Lower prices did not mean slow sales. It means sellers who priced with discipline still got offers. Sellers who did not price carefully likely sat longer or cut.

Supply stayed tight

The Real Estate Data Aggregator put months of supply at 1.7 in 60201, 1.9 in 60202, and 2.4 in 60203. All three fell from a year before. A market under three months of supply is still short on inventory. That scarcity kept buyers competing even as prices slipped.

The national picture looked different

The Federal Housing Finance Agency reported a 2.6% national price gain from July 2025 to July 2026. Nationally, Realtor.com reported mortgage rates climbed above 7% for the first time since January 2025, and CNBC reported the average contract rate on 30-year fixed loans reached 7.30% as of September 30, 2026. Realtor.com also reported that 20.8% of listings nationally took a price cut in September 2026, the highest share since October 2022. Evanston's price dips fit that broader pattern of sellers adjusting to what buyers can afford at higher rates.

One more note: these are ZIP code medians. One street can read very differently from the whole ZIP. A single large sale or a cluster of condos can move a median. Your home's picture may not match the ZIP code average.