Property Sales

As of February 2012 market reports, January 2012 North Shore Property sales were 8, down -27.3% from 11 in January of 2011 and -27.3% lower than the 11 sales last month. January 2012 sales were at their lowest level compared to January of 2011 and 2010. January YTD sales of 8 are running -27.3% behind last year’s year-to-date sales of 11.

Prices

The Median Sales Price in January was $737,500, down -23.4% from $962,500 in January of 2011 and up 3.6% from $712,000 last month. The Average Sales Price in January was $1,562,813, up 31.8% from $1,185,973 in January of 2011 and up 95.3% from $800,136 last month. January 2012 ASP was at highest level compared to market history within the range of January of 2011 and 2010.

Inventory & MSI

The Total Inventory of Chicago’s North Shore Properties available for sale as of January was 88, up 3.5% from 85 last month and down -17.8% from 107 in January of last year. January 2012 Inventory was at the lowest level compared to January of 2011 and 2010.
A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for market buyers. The January 2012 MSI of 11.0 months was at a mid range compared with January of 2011 and 2010.

Market Time

The average Days On Market (DOM) shows how many days the average North Shore or Cook County Property is on the Market before it sells. An upward trend in DOM tends to in show a move towards more of a Buyer’s market, a downward trend a move towards more of a Seller’s market. The DOM for January was 117, up 33.0% from 88 days last month and up 2.6% from 114 days in January of last year. The January 2012 DOM was at a mid range compared with market data from January of 2011 and 2010.

Inventory / New Listings / Sales

‘This last view of the market combines monthly inventory of Properties for sale as well as New Listings and North Shore property Sales. The graph shows the basic annual seasonality statistics of the market as well as the relationship between these items. The number of New Listings in January 2012 was 21, up 200.0% from 7 last month and up 5.0% from 20 in January based on last year’s historical data.

Our Coldwell Banker office located at 640 Vernon Ave., Glencoe,IL 60022 is available to help with all of your housing questions and concerns. From North Shore homes for sale or rent, to mortgage rates, market action reports, data, analytics or even neighborhood stats; we are here to help!

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