By Art Wilson, Realtor
Northbrook's April Property sales were 52, up 26.8% from 41 in April of 2012 and 33.3% higher than the 39 sales last month. April 2013 sales were at their highest level compared to April of 2012 and 2011. April YTD sales of 166 are running 28.7% ahead of last year's year-to-date sales of 129.
The Median Sales Price in April was $370,000, up 5.1% from $352,000 in April of 2012 and up 13.8% from $325,000 last month. The Average Sales Price in April was $405,802, up 4.8% from $387,218 in April of 2012 and down -2.4% from $415,818 last month. April 2013 ASP was at highest level compared to April of 2012 and 2011.
The Total Inventory of Properties available for sale as of April was 134, down -4.3% from 140 last month and down -56.1% from 305 in April of last year. April 2013 Inventory was at the lowest level compared to April of 2012 and 2011.
The April 2013 Months Supply of Inventory of 2.6 months was at its lowest level compared with April of 2012 and 2011. 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 April was 58, down -31.0% from 84 days last month and down -58.9% from 141 days in April of last year. The April 2013 DOM was at its lowest level compared with April of 2012 and 2011.
The Selling Price vs Listing Price is the average amount that Sellers are agreeing to come down from their 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 April 2013 Selling Price vs List Price of 95.6% was up from 94.6% last month and up from 93.1% in April of last year.
The number of New Listings in April 2013 was 107, up 20.2% from 89 last month and up 7.0% from 100 in April of last year.
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