By Art Wilson, Realtor
Northbrook's March Property sales were 48, up 26.3% from 38 in March of 2014 and equal to 0.0% 48 sales last month. March 2015 sales were at their highest level compared to March of 2014 and 2013. March YTD sales of 127 are running 8.5% ahead of last year's year-to-date sales of 117.
Median Sales Price in March was $392,500, up 14.8% from $342,000 in March of 2014 and down -20.0% from $490,750 last month. The Average Sales Price in March was $420,577, down -2.1% from $429,660 in March of 2014 and down -14.8% from $493,495 last month. March 2015 ASP was at a mid range .
The Total Inventory of Properties available for sale as of March was 208, up 7.8% from 193 last month and up 5.6% from 197 in March of last year. March 2015 Inventory was at highest level compared to March of 2014 and 2013.
The March 2015 MSI of 4.3 months was at a mid range compared with March of 2014 and 2013. 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 March was 70, down -6.7% from 75 days last month and up 18.6% from 59 days in March of last year. The March 2015 DOM was at a mid range compared with March of 2014 and 2013.
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 March 2015 Selling Price vs List Price of 94.8% was down from 95.5% last month and down from 95.0% in March of last year.
The number of New Listings in March 2015 was 117, up 44.4% from 81 last month and up 20.6% from 97 in March of last year.
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