By Art Wilson, Realtor
Northbrook's June Property sales were 89, down -3.3% from 92 in June of 2015 and 4.7% higher than the 85 sales last month. June 2016 sales were at a mid level compared to June of 2015 and 2014. June YTD sales of 351 are running 5.4% ahead of last year's year-to-date sales of 333.
The Median Sales Price in June was $490,000, up 8.9% from $450,000 in June of 2015 and up 12.6% from $435,000 last month. The Average Sales Price in June was $557,392, up 9.0% from $511,500 in June of 2015 and up 11.1% from $501,579 last month. June 2016 ASP was at highest level compared to June of 2015 and 2014.
The Total Inventory of Properties available for sale as of June was 297, down -7.5% from 321 last month and down -8.0% from 323 in June of last year. June 2016 Inventory was at a mid range compared to June of 2015 and 2014.
The June 2016 Months Supply of Inventory of 3.3 months was at its lowest level compared with June of 2015 and 2014. 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 46, down -8.0% from 50 days last month and down -9.8% from 51 days in June of last year. The June 2016 DOM was at a mid range compared with June of 2015 and 2014.
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 2016 Selling Price vs List Price of 97.6% was up from 96.0% last month and up from 97.1% in June of last year.
The number of New Listings in June 2016 was 140, down -20.9% from 177 last month and down -14.1% from 163 in June of last year.
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