By Art Wilson, Realtor
Northbrook's October Property sales were 49, down -24.6% from 65 in October of 2014 and -30.0% lower than the 70 sales last month. October 2015 sales were at their lowest level compared to October of 2014 and 2013. October YTD sales of 608 are running 8.4% ahead of last year's year-to-date sales of 561.
The Median Sales Price in October was $435,000, down -4.4% from $455,000 in October of 2014 and up 3.6% from $420,000 last month. The Average Sales Price in October was $494,356, up 6.8% from $463,078 in October of 2014 and down -10.8% from $554,265 last month. October 2015 ASP was at highest level compared to October of 2014 and 2013.
The Total Inventory of Properties available for sale as of October was 300, up 1.4% from 296 last month and up 1.4% from 296 in October of last year. October 2015 Inventory was at highest level compared to October of 2014 and 2013.
The October 2015 Months Supply of Inventory of 6.1 months was at its highest level compared with October 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 October was 46, down -9.8% from 51 days last month and down -8.0% from 50 days in October of last year. The October 2015 DOM was at its lowest level compared with October 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 October 2015 Selling Price vs List Price of 96.6% was down from 97.3% last month and down from 97.4% in October of last year.
The number of New Listings in October 2015 was 104, up 1.0% from 103 last month and up 20.9% from 86 in October of last year.
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