Northbrook IL Real Estate Market Action Report October 2010

September Property sales were 25, down 39.0% from 41 in September of 2009 and 19.4% lower than the 31 sales last month. September 2010 sales were at their lowest level compared to September of 2009 and 2008. September YTD sales of 356 are running 27.6% ahead of last year's year-to-date sales of 279. The Total Inventory of Properties available for sale as of September was 490, down 5.6% from 519 last month and down 12.5% from 560 in September of last year. September 2010 Inventory was at its lowest level compared with September of 2009 and 2008.

The Median Sales Price in September was $395,000, down 0.9% from $398,500 in September of 2009 and up 38.6% from $285,000 last month. The Average Sales Price in September was $408,380, down 7.7% from $442,552 in September of 2009

and up 3.4% from $394,766 last month. September 2010 ASP was at the lowest level compared to September of 2009 and 2008.

 

The September 2010 Months Supply of Inventory of 19.6 months was at its highest level compared with September 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 is 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 September 2010 Selling Price vs Original List Price of 87.7% was up from 86.4% last month and up from 86.8% in September 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 September was 76, down 28.3% from 106 days last month and down 24.0% from 100 days in September of last year. The September 2010 DOM was at a mid level compared with September of 2009 and 2008.

The number of new listings in September 2010 was 98, up 5.4% from 93 last month and down 7.5% from 106 in September of last year.

 

 

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