Northbrook IL Real Estate Market Action Report January 2017

By
Real Estate Agent with Coldwell Banker Residential Brokerage

By Art Wilson, Realtor

Northbrook's December Property sales were 44, down -2.2% from 45 in December of 2015 and -22.8% lower than the 57 sales last month. December 2016 sales were at their lowest level compared to December of 2015 and 2014. December YTD sales of 723 are running 2.1% ahead of last year's year-to-date sales of 708.

The Median Sales Price in December was $442,000, up 4.0% from $425,000 in December of 2015 and up 8.6% from $407,000 last month. The Average Sales Price in December was $536,134, up 18.9% from $451,003 in December of 2015 and up 13.8% from $471,313 last month. December 2016 ASP was at highest level compared to December of 2015 and 2014.

The Total Inventory of Properties available for sale as of December was 217, down -23.0% from 282 last month and down -5.2% from 229 in December of last year. December 2016 Inventory was at the lowest level compared to December of 2015 and 2014.

The December 2016 Month’s Supply of Inventory of 4.9 months was at a mid range compared with December 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 December was 63, up 18.9% from 53 days last month and down -23.2% from 82 days in December of last year. The December 2016 DOM was at a mid range compared with December 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 December 2016 Selling Price vs List Price of 94.3% was down from 94.9% last month and down from 95.6% in December of last year.

The number of New Listings in December 2016 was 40, down -32.2% from 59 last month and down -11.1% from 45 in December of last year.

Posted by

Art Wilson, Broker, ABR, CRP, CRS
Coldwell Banker Residential Brokerage        
552 Lincoln Ave.Winnetka, IL 60093              

Cell: 847-363-1599

Serving Chicago's North Shore Suburbs

Art.Wilson@cbexchange.com 
www.NorthShoreHomesOnline.com

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