By Art Wilson, Realtor
Northbrook’s August Property sales were 89, up 30.9% from 68 in August of 2014 and 34.8% higher than the 66 sales last month. August 2015 sales were at their highest level compared to August of 2014 and 2013. August YTD sales of 488 are running 10.7% ahead of last year's year-to-date sales of 441.
The Median Sales Price in August was $445,000, down -9.8% from $493,500 in August of 2014 and equal to $445,000 last month. The Average Sales Price in August was $480,608, down -12.3% from $547,800 in August of 2014 and down -3.1% from $496,203 last month. August 2015 ASP was at the lowest level compared to August of 2014 and 2013.
The Total Inventory of Properties available for sale as of August was 295, down -3.3% from 305 last month and down -3.3% from 305 in August of last year. August 2015 Inventory was at a mid range compared to August of 2014 and 2013.
The August 2015 Months Supply of Inventory of 3.3 months was at a mid range compared with August of 2014 and 2013. 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 August was 39, down -13.3% from 45 days last month and down -32.8% from 58 days in August of last year. The August 2015 DOM was at a mid range compared with August of 2014 and 2013.
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 August 2015 Selling Price vs List Price of 96.5% was up from 96.1% last month and up from 95.5% in August of last year.
The number of New Listings in August 2015 was 103, down -23.1% from 134 last month and up 2.0% from 101 in August of last year.
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