Northbrook IL Real Estate Market Action Report October 2017

By Art Wilson, Realtor

Northbrook’s September Property sales were 56, up 21.7% from 46 in September of 2016 and -31.7% lower than the 82 sales last month. September 2017 sales were at a mid level compared to September of 2016 and 2015. September YTD sales of 605 are running 5.8% ahead of last year's year-to-date sales of 572.

The Median Sales Price in September was $400,000, down -13.1% from $460,500 in September of 2016 and down -19.9% from $499,450 last month. The Average Sales Price in September was $470,070, down -4.5% from $492,074 in September of 2016 and down -8.6% from $514,501 last month. September 2017 ASP was at the lowest level compared to September of 2016 and 2015.

The Total Inventory of Properties available for sale as of September was 334, equal to 334 last month and down -4.0% from 348 in September of last year. September 2017 Inventory was at a mid range compared to September of 2016 and 2015.

The September 2017 Month’s Supply of Inventory of 6.0 months was at a mid range compared with September 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 September was 49, up 48.5% from 33 days last month and up 19.5% from 41 days in September of last year. The September 2017 DOM was at a mid range compared with September 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 September 2017 Selling Price vs List Price of 93.6% was down from 95.3% last month and up from 93.2% in September of last year.

The number of New Listings in September 2017 was 148, up 10.4% from 134 last month and up 16.5% from 127 in September of last year.