Northbrook IL Real Estate Market Action Report May 2014

By
Real Estate Agent with Coldwell Banker Residential Brokerage

By Art Wilson, Realtor

Northbrook's April Property sales were 43, down -24.6% from 57 in April of 2013 and 13.2% higher than the 38 sales last month. April 2014 sales were at a mid level compared to April of 2013 and 2012. April YTD sales of 160 are running -7.0% behind last year's year-to-date sales of 172.

The Median Sales Price in April was $305,000, down -19.7% from $380,000 in April of 2013 and down -10.8% from $342,000 last month. The Average Sales Price in April was $352,768, down -13.8% from $409,012 in April of 2013 and down -17.9% from $429,660 last month. April 2014 ASP was at the lowest level compared to April of 2013 and 2012.

 The Total Inventory of Properties available for sale as of April was 201, up 12.9% from 178 last month and up 16.2% from 173 in April of last year. April 2014 Inventory was at a mid range compared to April of 2013 and 2012.

The April 2014 Months Supply of Inventory of 4.7 months was at a mid range compared with April of 2013 and 2012.  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 April was 72, up 22.0% from 59 days last month and up 28.6% from 56 days in April of last year. The April 2014 DOM was at a mid range compared with April of 2013 and 2012.

 The Selling Price vs Listing Price reveals 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 April 2014 Selling Price vs List Price of 95.3% was up from 95.0% last month and down from 95.7% in April of last year.

The number of New Listings in April 2014 was 123, up 26.8% from 97 last monthand up 11.8% from 110 in April 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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