As we make our way into March 2012, February North Shore real estate Property sales were up 33.3% from February of 2011 and equal to 0.0% 8 sales last month. February 2012 sales were at their highest level compared to February housing data of 2011 and 2010. February YTD sales of 16 are running -5.9% behind last year’s year-to-date sales of 17.
The Chicago North Shore Median Glencoe Sales Price in February was $482,000, down -47.4% from $916,000 in February of 2011 and down -34.6% from $737,500 last month. The Average Sales Price in February was $732,750, down -33.8% from $1,107,000 in February of 2011 and down -53.1% from $1,562,813 last month. February 2012 ASP was at a mid range compared to February market reports of 2011 and 2010.
Inventory & MSI
The Total Inventory of Properties available for sale as of February was 91, up 1.1% from 90 last month and down -12.5% from 104 in February of last year. February 2012 Inventory was at the lowest level compared to February of 2011 and 2010. A comparatively lower MSI is more beneficial for North Shore sellers while a higher MSI is better for buyers. The February 2012 MSI of 11.4 months was at its lowest level compared with February of 2011 and 2010.
The average Days On Market (DOM) shows how many days the average North Shore 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 February 2012 was 167, up 42.7% from 117 days last month and up 16.0% from 144 days in February of last year. The February 2012 DOM was at its highest level compared with February of 2011 and 2010.
Inventory / New Listings / Sales
This last view of the North Shore-Glenoce market combines monthly inventory of Properties for sale along with New property listings and sales. The graph (see above) shows the basic annual seasonality of the North Shore-Glencoe real estate market as well as the relationship between these items. The number of New Listings in February 2012 was 24, up 14.3% from 21 last month and up 4.3% from 23 in February of last year based on recent analytics and MLS statistics.
The top performing Coldwell Banker real estate office located in Glencoe’s downtown center-640 Vernon Ave, 60022; has been the cornerstone for North Shore community living for over 40 years. Feel free to stop in to discuss this report, or to gather information on current market conditions, get the latest on mortgage rates or simply a map to get you more familiar with the North Shore neighborhoods. We pride ourselves on providing exceptional service and attention for Chicago’s premier North Shore.