By Art Wilson, Realtor
Northbrook's January Property sales were 41, down -2.4% from 42 in January of 2013 and -22.6% lower than the 53 sales last month. January 2014 sales were at a mid level compared to January of 2013 and 2012. January YTD sales of 41 are running -2.4% behind last year's year-to-date sales of 42.
The Median Sales Price in January was $350,000, down -1.0% from $353,500 in January of 2013 and down -16.7% from $420,000 last month. The Average Sales Price in January was $380,662, down -6.0% from $404,982 in January of 2013 and down -17.7% from $462,794 last month. January 2014 ASP was at the lowest level compared to January of 2013 and 2012.
The Total Inventory of Properties available for sale as of January was 137, down -17.0% from 165 last month and down -23.0% from 178 in January of last year. January 2014 Inventory was at the lowest level compared to January of 2013 and 2012.
The January 2014 Months Supply of inventory of 3.3 months was at its lowest level compared with January of 2013 and 2012. 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 66, up 69.2% from 39 days last month and up 3.1% from 64 days in January of last year. The January 2014 DOM was at a mid range compared with January of 2013 and 2012.
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 January 2014 Selling Price vs List Price of 96.2% was down from 96.3% last month and down from 97.8% in January of last year.
The number of New Listings in January 2014 was 57, up 29.5% from 44 last month and down -3.4% from 59 in January of last year.
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