Northbrook IL Real Estate Market Action Report August 2010
The Total Inventory of Properties available for sale as of July was 520, up 2.0% from 510 last month and down -
9.2% from 573 in July of last year. July 2010 Inventory was at its lowest level compared with July of 2009 and
2008.
The Median Sales Price in July was $435,000, up 0.6% from $432,500 in July of 2009 and up 18.4% from $367,500 last month. The Average Sales Price in July was $446,824, down -16.0% from $531,618 in July of 2009 and up 6.8% from $418,511 last month. July 2010 ASP was at the lowest level compared to July of 2009 and 2008.
July Property sales were 39, down -29.1% from 55 in July of 2009 and -47.3% lower than the 74 sales last
month. July 2010 sales were at their lowest level compared to July of 2009 and 2008. July YTD sales of 295 are running 46.8% ahead of last year's year-to-date sales of 201.
The July 2010 Months Supply of Inventory of 13.3 months was at its highest level compared with July of 2009 and 2008. A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers.
The Selling Price vs Original Listing Price shows 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 July 2010 Selling Price vs Original List Price of 86.6% was up from 86.5% last month and down from 88.0% in July of last year.
The average Days On Market (DOM) shows how many days the average Property is on the market before isells. An upward trend in DOM tends to indicate a move towards more of a Buyer's market, a downward trend amove towards more of a Seller's market. The DOM for July was 103, down -18.3% from 126 days last monthand up 9.6% from 94 days in July of last year. The July 2010 DOM was at a mid level compared with July of 2009 and 2008.


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