Property Sales

November property real estate sales for Chicago’s North Shore were 8, down -27.3% from 11 in November of 2010 and -33.3% lower than the 12 sales last month. November 2011 sales were at their lowest level compared to November of 2010 and 2009. November YTD sales of 126 are running 26.0% ahead of last year’s year-to-date sales of 100.

Prices

The Median Sales Price for Glencoe in November for example, was $993,750, up 52.9% from $650,000 in November of 2010 and up 7.5% from $924,500 last month. The Average Sales Price in November was $1,301,563, up 25.8% from $1,035,005 in November of 2010 and up 28.6% from $1,012,053 last month. November 2011 ASP was at highest level compared to November of 2010 and 2009.

Inventory & MSI

The Total Inventory of Properties available for sale as of November was 96, down -9.4% from 106 last month and down -17.9% from 117 in November of last year. November 2011 North Shore real estate Inventory was at the lowest level compared to November of 2010 and 2009 reports. A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for North Shore buyers. The November 2011 MSI of 12.0 months was at a mid range compared with November of 2010 and 2009.

Market Time

The average Days On Market(DOM) shows how many days the average North Shore real estate 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 223, up 99.1% from 112 days last month and up 89.0% from 118 days in November of last year. The November 2011 DOM was at its highest level compared with November of 2010 and 2009.

Inventory / New Listings / Sales

This last view of the market combines monthly inventory of Properties for sale along with New Listings and Chicago’s North Shore Sales. The graph shows the basic annual seasonality of the market as well as the relationship between these items. The number of New Listings in November 2011 was 9, down -57.1% from 21 last month and down -50.0% from 18 in November of last year.

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