By Art Wilson, Realtor
Northbrook's October Property sales were 52, down -11.9% from 59 in October of 2012 and -10.3% lower than the 58 sales last month. October 2013 sales were at a mid level compared to October of 2012 and 2011. October YTD sales of 583 are running 11.3% ahead of last year's year-to-date sales of 524.
The Median Sales Price in October was $357,500, up 5.1% from $340,000 in October of 2012 and down -5.8% from $379,500 last month. The Average Sales Price in October was $401,661, up 1.4% from $396,128 in October of 2012 and down -2.1% from $410,138 last month. October 2013 ASP was at highest level compared to October of 2012 and 2011.
The Total Inventory of Properties available for sale as of October was 177, down -14.9% from 208 last month and down -28.3% from 247 in October of last year. October 2013 Inventory was at the lowest level compared to October of 2012 and 2011.
The October 2013 Months Supply of Inventory of 3.4 months was at its lowest level compared with October 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) shows 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 October was 55, down -5.2% from 58 days last month and down -12.7% from 63 days in October of last year. The October 2013 DOM was at its lowest level compared with October 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 October 2013 Selling Price vs List Price of 96.5% was up from 95.6% last month and up from 94.4% in October of last year.
The number of New Listings in October 2013 was 75, down -13.8% from 87 last month and up 2.7% from 73 in October of last year.
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