By Art Wilson, Realtor-
Northbrook's June Property sales were 79, up 9.7% from 72 in June of 2012 and 17.9% higher than the 67 sales last month. June 2013 sales were at their highest level compared to June of 2012 and 2011. June YTD sales of 317 are running 19.6% ahead of last year's year-to-date sales of 265.
The Median Sales Price in June was $425,000, up 0.0% from $424,950 in June of 2012 and up 7.6% from $395,000 last month. The Average Sales Price in June was $488,440, up 12.7% from $433,543 in June of 2012 and up 19.0% from $410,398 last month. June 2013 ASP was at highest level compared to June of 2012 and 2011.
The Total Inventory of Properties available for sale as of June was 150, down -14.8% from 176 last month and down -51.6% from 310 in June of last year. June 2013 Inventory was at the lowest level compared to June of 2012 and 2011.
The June 2013 Months Supply of Inventory of 1.9 months was at its lowest level compared with June 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 June was 44, down -42.9% from 77 days last month and down -31.3% from 64 days in June of last year. The June 2013 DOM was at its lowest level compared with June 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 June 2013 Selling Price vs List Price of 97.2% was up from 97.0% last month and up from 95.2% in June of last year.
The number of New Listings in June 2013 was 98, down -3.0% from 101 last month and up 18.1% from 83 in June of last year.
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