The Chicago North Shore real estate market continues on a path of progress with the Median Sales Price in August up 12.0% from market action reporting in August of 2013 and up 14.5% from last month. The Average Sales Price in August was up 17.6% compared to August of 2013 and up 13.5% from last month. August 2014 ASP was at highest level compared to August of 2013 and 2012.
August North Shore Property sales were down -13.9% from sales figures in August of 2013 and -8.3% lower than the sales totals last month. August 2014 sales were at a mid-level compared to August of 2013 and 2012. August YTD sales of 2,765 are running -12.2% behind last year’s year-to-date sales of 3,150.
Inventory & MSI
The Total Inventory of North Shore-Chicago Properties available for sale as of August 2014 was down -2.5% from figures calculated last month and up 14.3% from totals in August of last year. August 2014 Inventory was at a mid-range compared to August of 2013 and 2012. A comparatively lower MSI is more beneficial for North Shore sellers while a higher MSI is better for North Shore buyers. The August 2014 MSI of 3.5 months was at a mid-range compared with August of 2013 and 2012.
Selling Price vs Listing Price
The Selling Price vs Listing Price reveals the average amount that North Shore Sellers are agreeing to come down from their 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 August 2014 Selling Price vs List Price of 96.4% was down from 96.7% last month and down from 96.8% in August of last year.
Inventory / New Listings / Sales
This view above of the market combines monthly inventory of Chicago North Shore Properties for sale along with New Listings and Sales. The graph shows the basic annual seasonality of the North Shore real estate markets as well as the relationship between these items. The number of New Listings in August 2014 was down -16.4% from market action totals last month and up 13.1% from figures noted in August of last year.
Often thought of as the consummate North Shore real estate professional, Gloria Matlin has a client centered style that focuses on elite real estate service and attention. With over 25 years of top ranking, high producing accomplishments, a precise sense of area market trends and forecasts, she enjoys making dreams come true with each and every one of her clients. Look to her for optimal performance with a sincere and personable approach to buying, selling, investing or even relocation related real estate endeavors. She calls Coldwell Banker residential real estate her home office-640 Vernon Avenue, Glencoe, Illinois.