Highland Park IL Real Estate Market Action Report November 2010
October Property sales were 25, up 8.7% from 23 in October of 2009 and 4.2% higher than the 24 sales last month. October 2010 sales were at their highest level compared to October of 2009 and 2008. October YTD sales of 310 are running 58.2% ahead of last year's year-to-date sales of 196. The Total Inventory of Properties available for sale as of October was 413, down 4.4% from 432 last month and down 18.7% from 508 in October of last year. October 2010 Inventory was at its lowest level compared with October of 2009 and 2008.
The Median Sales Price in October was $325,000, down 37.5% from $520,000 in October of 2009 and down 39.5% from $537,500 last month. The Average Sales Price in October was $419,480, down 31.0% from $607,619 in October of 2009 and down 41.8% from $720,615 last month. October 2010 ASP was at the lowest level compared to October of 2009 and 2008.
The October 2010 Months Supply of Inventory of 16.5 months was at its lowest level compared with October of 2009 and 2008. A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers.
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 October was 134, up 25.2% from 107 days last month and up 7.2% from 125 days in October of last year. The October 2010 DOM was at a mid level compared with October of 2009 and
The number of New Listings in October 2010 was 53, down 10.2% from 59 last month and down 30.3% from 76 in October of last year.


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