Northbrook Real Estate Market Trends (as of October 2011)

Over the last 2 years, the Average Sales Price for Northbrook real estate has, unfortunately, steadily decreased for both Attached (Condos and Townhouses) and Detached Single Family Homes.

Northbrook Average Sales Price

Though prices seesaw from month to month, the overall market trend is down, and it looks as if prices haven’t hit bottom. Until they do, homeowners should expect continuing price erosion. How much is anyone’s guess, but anyone trying to sell should expect prices to be lower — rather than higher — over the next six months.

On the positive side, the Supply of Inventory has decreased year-over year from a 10-month supply to an 8-month supply.

When availability of homes decline, sales prices usually increase.

Northbrook Real Estate Inventory

Data provided by the Midwest Real Estate LLC and includes properties listed and sold by various participants in the MLS. Some charts powered by 10K Research and Marketing.

However, homeowners shouldn’t expect an uptick until supply is down much further. Generally, a 2 or 3-month supply is considered healthy.

Even then, with a weak and uncertain economy prevailing, homebuyers will continue to be leery of more price erosion, which will put down-pressure on sales prices.

The best homeowners can expect over the near term is a slowing of price decreases or a leveling out of sale prices.

It’s Judy … your North Shore Chicago real estate agent.

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When you’re ready to buy or sell, don't leave the choice of your real estate agent up to chance. Make sure you partner with a Chicagoland neighborhood expert who can get the job done to your satisfaction.

We’re connected with a network of top real estate agents throughout the Chicago Metro area as well as nationwide. We do the research so you can ‘move on’ with your life.

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Reach out to us at 847.859.9197 ... then ‘move’ confidently forward.

 
Posted by Judy Chapman on 11/30/2011 05:00 PM   Comments (2)   Northbrook in the Home Selling Channel   northbrook real estate inventory  
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2 Comments on Northbrook Real Estate Market Trends (as of October 2011)

DEC
01
2011
497,440 Points 150 Featured Posts Outside Blog Hit Router Called Shot Master

Judy:  If the reports I have seen for the Chicagoland area hold true, there ARE bright spots being seen within our overall market.   Down on one thing (as you point out), up on another.  And holding more steady over longer periods.  Small positives to cling to heading into the colder months.  ANY positives are welcomed ...

Thanks for the info and report ...

Gene
4:59pm • #1
325,417 Points 40 Featured Posts Attended Rain Camp Called Shot Master

Gene - I think we're seeing the light at the end of the tunnel. Used to only be total blackness!
8:10pm • #2


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Judy Chapman

Chicago, IL

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Referral Network of Illinois LLC

Address: 4709 Golf Road, Suite 1100, Skokie, IL, 60076

Office Phone: (847) 859-9197

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DISCLAIMER STATEMENT: All data and statistics provided on this blog is for informational and educational purposes. The blogger strives to present verifiable facts, statements, and statistics, but cannot guarantee accuracy.

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