Northbrook IL Real Estate Market Action Report December 2011

Northbrook's November Property sales were 25, down -21.9% from 32 in November of 2010 and -19.4% lower than the 31 sales last month. November 2011 sales were at their lowest level compared to November of 2010 and 2009. November YTD sales of 443 are running 2.1% ahead of last year's year-to-date sales of 434.


The Median Sales Price in November was $245,000, down -38.8% from $400,000 in November of 2010 and down -3.9% from $255,000 last month. The Average Sales Price in November was $263,920, down -47.7% from $504,953 in November of 2010 and down -20.4% from $331,578 last month. November 2011 ASP was at the lowest level compared to November of 2010 and 2009.


The Total Inventory of Properties available for sale as of November was 318, down -10.7% from 356 last month and down -26.6% from 433 in November of last year. November 2011 Inventory was at the lowest level compared to November of 2010 and 2009.


The November 2011 Months Supply of Inventory of 12.7 months was at its lowest level compared with November of 2010 and 2009. A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers.


The average Days On Market (DOM) is 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 86, down -23.2% from 112 days last month and up 24.6% from 69 days in November of last year. The November 2011 DOM was at a mid range compared with November of 2010 and 2009.


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 2011 Selling Price vs Original List Price of 86.4% was up from 86.2% last month and down from 90.2% in November of last year.


The number of New Listings in November 2011 was 35, down -42.6% from 61 last month and down -31.4% from 51 in November of last year.

 

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