Northbrook IL Real Estate Market Action Report July 2015

By
Real Estate Agent with Coldwell Banker Residential Brokerage

 

 

By Art Wilson, Realtor

 

Northbrook's June Property sales were 91, up 15.2% from 79in June of 2014 and 71.7% higher than the 53 sales last month. June 2015 saleswere at their highest level compared to June of 2014 and 2013. June YTD salesof 331 are running 13.0% ahead of last year's year-to-date sales of 293.

 The Median SalesPrice in June was $450,000, down -4.2% from $469,500 in June of 2014 and up8.4% from $415,000 last month. The Average Sales Price in June was $506,571, up3.2% from $490,633 in June of 2014 and up 2.6% from $493,565 last month. June2015 ASP was at highest level compared to June of 2014 and 2013.

The Total Inventory of Properties available for sale as ofJune was 296, up 8.0% from 274 last month and up 8.0% from 274 in June of lastyear. June 2015 Inventory was at highest level compared to June of 2014 and2013.

The June 2015 Months Supply of Inventory of 3.3 months wasat a mid range compared with June of 2014 and 2013. A comparatively lower MSIis more beneficial for sellers while a higher MSI is better for buyers.

The average Days On Market (DOM) is how many days theaverage Property is on the Market before it sells. An upward trend in DOM tendsto indicate a move towards more of a Buyer's market, a downward trend a movetowards more of a Seller's market. The DOM for June was 51, down -15.0% from 60days last month and up 21.4% from 42 days in June of last year. The June 2015DOM was at its highest level compared with June of 2014 and 2013.

The Selling Price vs Listing Price is the average amountthat Sellers are agreeing to come down from their list price. The lower theratio is below 100% the more of a Buyer's market exists, a ratio at or above100% indicates more of a Seller's market. The June 2015 Selling Price vs ListPrice of 97.1% was up from 96.9% last month and down from 97.5% in June of lastyear.

The number of New Listings in June 2015 was 161, up 14.2%from 141 last month and up 25.8% from 128 in June 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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