Property Sales

As of January 2012, North Shore December Real Estate Property sales were up 10.0% from 10 in December of 2010 and 37.5% higher than the  8 sales last month.  December 2011 sales were at a mid level compared to December of 2010 and 2009.  December YTD sales of 137 are running 24.5% ahead of  last year’s year-to-date sales of 110.

Prices

The Median Sales Price in December was $712,000, up 24.6% from $571,500 in December of 2010 and down -28.4% from $993,750 last month.  The Average Sales Price in December was $800,136, down -8.0% from $869,500 in December of 2010 and down -38.5% from $1,301,563 last month.  December 2011 ASP was at the lowest level compared to December of 2010 and 2009.

Inventory & MSI

The Total Inventory of North Shore properties available for sale as of December was 84, down -12.5% from 96 last month and down -20.0% from 105 in December of last year.  December 2011 Inventory was at the lowest level compared to December of 2010 and 2009.
A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers.  The December 2011 MSI of 7.6 months was at its lowest level compared with December of 2010 and 2009.

Market Time

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 December was 88, down -60.5% from 223 days last month and down -8.3% from 96 days in December of last year.  The December 2011 DOM was at its lowest level compared with December of 2010 and 2009.

Inventory / New Listings / Sales

‘This last view of the market combines monthly inventory of Properties for sale along with Chicago’s North Shore New MLS Listings and 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 December 2011 was 7, down -22.2% from 9 last month and down -22.2% from 9 in December of last year.

 

For a complete list or Market Action reports for other North Shore locations like Winnetka, Wilmette, Northfield, Deerfield, Kenilworth, Glenview, Skokie, Lincolnshire, Highland Park as well as Glencoe stop by our downtown location of Coldwell Banker.  A top producing office offering exceptional North Shore Real Estate service for more than 40 years. We also offer active mortgage rate information through PHH mortgage. Stop by today, we’d love to help!

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