Property Sales

Top North Shore real estate selling reports state that now in May 2012 the previous month of April; Property sales were down -21.4% from April of 2011 and 37.5% higher than North Shore sales last month. April 2012 sales were at a mid level compared to April of 2011 and 2010. April YTD sales of 35 are running -27.1% behind last year’s year-to-date sales recorded.

Prices

The Median Chicago North Shore Sales Price in April was $766,500, down -1.1% from $775,000 in April of 2011 and down -21.1% from $972,000 last month. The Average North Shore-Glencoe Sales Price in April was $907,227, down -15.4% from $1,071,804 in April of 2011 and down -44.9% from $1,645,063 last month. April 2012 ASP was at the lowest level compared to April of 2011 and 2010.

Inventory & MSI

The Total Inventory and (monthly supply inventory or MSI) of North Shore Properties available for sale as of April was down -10.1% from last month and down -24.6% from April of last year. April 2012 real estate Inventory was at the lowest level compared to April of 2011 and 2010.
A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The April 2012 MSI of 8.1 months was at its lowest level compared with April of 2011 and 2010.

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 April was down -10.9% from last month and up 1.8% from 112 days in April of last year. The April 2012 DOM was at its highest level compared with April of 2011 and 2010 real estate reporting.

 Inventory / New Listings / Sales

The last view of the North Shore real estate market combines monthly inventory of Properties for sale along with listings and sales analysis. The graph above shows the basic annual seasonality of the market as well as the relationship between these items. The number of New North Shore Listings in April 2012 was 27, down -18.2% from last month and down -28.9% from  April of last year reporting figures

Gloria Matlin can be found at the Glencoe, Illinois Coldwell Banker Residential Brokerage office located at 640 Vernon Ave, 60022. The office can provide detail on this and other market reports. Feel free to use us as a trusted resource for North Shore Real estate questions about homes for sale, homes for rent, or property financing options.  We have been a top producing, top selling real estate example for well over 45 years.

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