Highland Park's January Property sales were 13, down -13.3% from 15 in January of 2011 and -43.5% lower than the 23 sales last month. January 2012 sales were at their lowest level compared to January of 2011 and 2010. January YTD sales of 13 are running -13.3% behind last year's year-to-date sales of 15.
The Median Sales Price in January was $378,000, down -1.8% from $385,000 in January of 2011 and up 40.0% from $270,000 last month. The Average Sales Price in January was $382,785, down -2.4% from $392,177 in January of 2011 and down -45.1% from $697,139 last month. January 2012 ASP was at the lowest level compared to January of 2011 and 2010.
The Total Inventory of Properties available for sale as of January was 280, down -8.5% from 306 last month and down -25.9% from 378 in January of last year. January 2012 Inventory was at the lowest level compared to January of 2011 and 2010.
The January 2012 Months Supply of Inventory of 21.5 months was at a mid range compared with January of 2011 and 2010. A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers.
The average Days On Market (DOM) is how many days the average Property is on the Market before it sells. An upward trend in DOM tends to indicate a move towards more of a Buyer's market, a downward trend a move towards more of a Seller's market. The DOM for January was 107, down -23.6% from 140 days last month and down -40.9% from 181 days in January of last year. The January 2012 DOM was at its lowest level compared with January of 2011 and 2010.
The Selling Price vs Original Listing Price is the average amount that Sellers are agreeing to come down from their original list price. The lower the ratio is below 100% the more of a Buyer's market exists, a ratio at or above 100% indicates more of a Seller's market. The January 2012 Selling Price vs Original List Price of 85.8% was up from 83.9% last month and up from 81.5% in January of last year.
The number of New Listings in January 2012 was 52, up 108.0% from 25 last month and down -30.7% from 75 in January of last year.
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