Northbrook IL Real Estate Market Action Report December 2010
Northbrook’s November Property sales were 31, up 3.3% from 30 in November of 2009 and -26.2% lower than the 42 sales last month. November 2010 sales were at their highest level compared to November of 2009 and 2008. November YTD sales of 416 are running 21.6% ahead of last year's year-to-date sales of 342.
The Median Sales Price in November was $395,000, up 1.0% from $391,050 in November of 2009 and up 8.2% from $365,000 last month. The Average Sales Price in November was $506,887, up 28.7% from $393,837 in November of 2009 and up 17.5% from $431,357 last month. November 2010 ASP was at highest level compared to November of 2009 and 2008.
The Total Inventory of Properties available for sale as of November was 388, down -13.2% from 447 last month and down -18.7% from 477 in
November of last year. November 2010 Inventory was at the lowest level compared to November of 2009 and 2008.A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The November 2010 Months Supply of Inventory of 12.5 months was at its lowest level compared with November 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 November was 69, down -28.1% from 96 days last month and down -54.9% from 153 days in November of last year. The November 2010 DOM was at its lowest level compared with November of 2009 and 2008.
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 November 2010 Selling Price vs Original List Price of 90.5% was up from 86.5% last month and up from 82.9% in November of last year.
The number of New Listings in November 2010 was 51, down -34.6% from
78 last month and down -10.5% from 57 in November of last year.


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