Northbrook IL Real Estate Market Action Report June 2010

The Total Inventory of Properties available for sale as of May was 461, down -4.4% from 482 last month and down

-20.4% from 579 in May of last year. May 2010 Inventory was at its lowest level compared with May of 2009 and 2008.

 

The Median Sales Price in May was $374,000, down -17.4% from $453,000 in May of 2009 and down - 7.7% from $405,000 last month. The Average Sales Price in May was $396,318, down -31.6% from $579,335 in May of 2009 and down -7.9% from $430,114 last month. May 2010 ASP was at the lowest level compared to May of 2009 and 2008.

 

May Property sales were 47, up 27.0% from 37 in May of 2009 and 17.5% higher than the 40 sales last month. May 2010 sales were at their highest level compared to May of 2009 and 2008. May YTD sales of 181 are running 69.2% ahead of last year's year-to-date sales of 107.

 

A comparatively lower Months supply of Inventory is more beneficial for sellers while a higher MSI is better for buyers. The May 2010

MSI of 9.8 months was at its lowest level compared with May of 2009 and 2008.

 

The Selling Price vs Original Listing Price reveals the average amount that Sellers are agreeing to come down from their original 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 May 2010 Selling Price vs Original List Price of 86.6% was down from 87.2% last month and up from 85.3% in May of last year.

 

The average Days On Market (DOM) shows 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 May was 122, down -10.3% from 136 days last month and down -9.0% from 134 days in May of last year. The May 2010 DOM was at a mid level compared with May of 2009 and 2008.

 

 

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