By Art Wilson, Realtor
Northbrook’s June Property sales were 100, up 11.1% from 90 in June of 2016 and 6.4% higher than the 94 sales last month. June 2017 sales were at their highest level compared to June of 2016 and 2015. June YTD sales of 393 are running 11.6% ahead of last year's year-to-date sales of 352.
The Median Sales Price in June was $508,800, up 4.4% from $487,500 in June of 2016 and up 13.7% from $447,500 last month. The Average Sales Price in June was $563,240, up 1.4% from $555,499 in June of 2016 and up 14.1% from $493,540 last month. June 2017 ASP was at highest level compared to June of 2016 and 2015.
The Total Inventory of Properties available for sale as of June was 365, up 4.0% from 351 last month and up 15.9% from 315 in June of last year. June 2017 Inventory was at highest level compared to June of 2016 and 2015.
The June 2017 Months Supply of Inventory of 3.7 months was at its highest level compared with June of 2016 and 2015. 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 June was 35, down -27.1% from 48 days last month and down -25.5% from 47 days in June of last year. The June 2017 DOM was at its lowest level compared with June of 2016 and 2015.
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 June 2017 Selling Price vs List Price of 94.5% was down from 94.7% last month and down from 95.7% in June of last year.
The number of New Listings in June 2017 was 190, up 14.5% from 166 last month and up 35.7% from 140 in June of last year.