Highland Park IL Real Estate Market Action Report October 2012

By
Real Estate Agent with Coldwell Banker Residential Brokerage

Highland Park's September Property sales were 38, up 8.6% from 35 in September of 2011 and -29.6% lower than the 54 sales last month. September 2012 sales were at their highest level compared to September of 2011 and 2010. September YTD sales of 346 are running 29.1% ahead of last year's year-to-date sales of 268.

The Median Sales Price in September was $422,500, down -5.9% from $449,000 in September of 2011 and down -8.8% from $463,250 last month. The Average Sales Price in September was $535,211, up 17.1% from $457,165 in September of 2011 and down -3.8% from $556,605 last month. September 2012 ASP was at a mid range compared to September of 2011 and 2010.

The Total Inventory of Properties available for sale as of September was 264, down -7.4% from 285 last month and down -31.3% from 384 in September of last year. September 2012 Inventory was at the lowest level compared to September of 2011 and 2010.

The September 2012 Months Supply of Inventory of 6.9 months was at its lowest level compared with September of 2011 and 2010. 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 September was 95, up 5.6% from 90 days last month and down -19.5% from 118 days in September of last year. The September 2012 DOM was at its lowest level compared with September of 2011 and 2010.

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 September 2012 Selling Price vs List Price of 94.0% was down from 94.4% last month and up from 91.7% in September of last year.

The number of New Listings in September 2012 was 56, down -13.8% from 65 last month and down -9.7% from 62 in September 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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