June 2012 North Shore real estate reports show property sales top off at 40.0%; 61.5% higher than sales produced in June 2011.
The Chicago North suburban Median Sales Price in June was down -35.3%, compared to June of 2011. The Average Sales Price for North Shore-Glencoe in June was $1,123,145, down -6.0% from $1,194,607 in June of 2011 and up 23.7% from $907,885 last month. June 2012 ASP was at a mid range compared to June of 2011 and 2010.
Inventory & MSI
The Total Inventory of North Shore properties available for sale as of June was down -18.1% from last month, and down -30.6% in June of last year. June 2012 Inventory was at the lowest level compared to June of 2011 and 2010.
A comparatively lower MSI is more beneficial for North Shore sellers while a higher MSI is better for buyers. The June 2012 MSI of 4.1 months was at its lowest level compared with June of 2011 and 2010 reporting volume.
The average Days on Market (DOM) shows how many days the average Chicago 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 June was 96, down -23.8% from 126 days last month and down -33.8% from 145 days in June of last year. The June 2012 DOM was at its lowest level compared with June of 2011 and 2010.
Inventory / New Listings / Sales
‘The photo provided of the overall real estate market conditions, combines monthly inventory of Properties for sale along with New Listings and property sold vaules. The graph shows the basic annual seasonality of Chicago’s North Shore market as well as the relationship between these items. The number of New Listings in June 2012 was down -27.3% from last month and up 33.3% in June of last year’s reporting.
Glencoe’s Coldwell Banker Residential Real Estate office can provide guidance on this and similar North Shore real estate data. Any of our high performing real estate agents can assist you. Stop in today for a free assessment- 640 Vernon Road, Glencoe, IL 60022!