Northbrook IL Real Estate Market Action Report January 2016

By Art Wilson, Realtor

Northbrook's December Property sales were 43, down -33.8% from 65 in December of 2014 and -20.4% lower than the 54 sales last month. December 2015 sales were at their lowest level compared to December of 2014 and 2013. December YTD sales of 705 are running 4.1% ahead of last year's year-to-date sales of 677.

The Median Sales Price in December was $417,000, down -2.8% from $429,000 in December of 2014 and down -14.0% from $485,000 last month. The Average Sales Price in December was $447,642, down -9.1% from $492,399 in December of 2014 and down -7.0% from $481,351 last month. December 2015 ASP was at the lowest level compared to December of 2014 and 2013.

The Total Inventory of Properties available for sale as of December was 211, down -15.9% from 251 last month and down -3.2% from 218 in December of last year. December 2015 Inventory was at a mid range compared to December of 2014 and 2013.

The December 2015 Months Supply of Inventory of 4.9 months was at its highest level compared with December 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 December was 85, up 129.7% from 37 days last month and up 77.1% from 48 days in December of last year. The December 2015 DOM was at its highest level compared with December 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 December 2015 Selling Price vs List Price of 95.6% was up from 95.2% last month and down from 95.9% in December of last year.

The number of New Listings in December 2015 was 45, down -40.0% from 75 last month and up 50.0% from 30 in December of last year.