Property Sales

North Shore-Glencoe market action report for September 2012 Property sales volume reflects an upward trend of 42.9% compared to September of 2011. September 2012 sales topped at their highest level compared to September of 2011 and 2010. September YTD sales are running 16.0% ahead of last year’s best figures.

Prices

The North Suburban Median Sales Price in September was up 35.5% from $440,000 in September of 2011 and down -26.2% from $807,500 last month. The Average Sales Price in September was down -18.2% compared to data in September of 2011 and down -26.5% from last month. September 2012 ASP was at the lowest level compared to September of 2011 and 2010 figures.

Inventory & MSI

The Total Chicago North Shore Inventory of Properties available for sale as of September was down -2.4% in relation to last month and down -30.2% in September of last year. September 2012 sales Inventory was at the lowest level compared to September of 2011 and 2010 on Chicago’s North Shore.

A comparatively lower MSI is more beneficial for North Shore sellers while a higher MSI is better for North Shore buyers. The September 2012 MSI of 8.1 months was at its lowest level compared with September 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 September was equal to 73 days last month and up 12.3% from 65 days in September of last year. The September 2012 DOM was at a mid-range compared with closed sales data in September of 2011 and 2010.

Inventory / New Listings / Sales

The view above of the Chicago-North Shore real estate market combines monthly inventory of Properties for sale along with New Listings and Sales. The graph shows the basic annual seasonality of the North Shore market conditions as well as the relationship between these items. The number of New Listings in September 2012 was down -28.0% from last month and up 12.5% in September of 2011.

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