NS-Sept-2013Property Sales

Ongoing progress…Chicago North Shore September Property sales were up 35.7% from market action report totals calculated in September of 2012 and -30.1% lower than sales last month. September 2013 North Shore sales were at their highest level compared to September of 2012 and 2011. September YTD sales ran 27.0% ahead of last year’s year-to-date sales outcomes.

Prices

The North Shore-Chicago Median Sales Price in September was up 11.1% from final sales volume amounts in September of 2012 and down -3.2% from data posted last month. The Average North Shore Sales Price in September was up 18.7% from totals in September of 2012 and down -3.1% from last month’s final data. September 2013 ASP was at highest level compared to September of 2012 and 2011.

Inventory & MSI

The total North Suburban-Chicago Inventory of Properties available for sale as of September was down -1.7% from totals last month and down -28.5% from inventory totals in September of last year. September 2013 Inventory was at the lowest level compared to September of 2012 and 2011.

A comparatively lower MSI is more beneficial for North Shore sellers while a higher MSI is better for North Shore buyers. The September 2013 MSI of 3.8 months was at its lowest level compared with September of 2012 and 2011.

Market Time

The average North Shore-Chicago 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 North Shore buyer’s market, a downward trend a move towards more of a North Shore Seller’s market. The DOM for September was 56, up 12.0% from 50 days last month and down -34.9% from 86 days in September of last year. The September 2013 DOM was at its lowest level compared with September of 2012 and 2011.

Inventory / New Listings / Sales

The view above of the market combines monthly inventory data of properties for sale along with new North Shore listings and sales. The graph totals show the basic annual seasonality of the market as well as the relationship between these items. The number of New North Shore Listings in September 2013 was up 3.2% from last month and up 26.3% from final figures gathered in September of last year.

Recently ranking as one of the top producing North Shore real estate professionals for the 2nd quarter of 2013, Gloria Matlin sustains optimal performance with grace, tenacity and personalized service.  Staying ahead of the market for over 25 years, look to her for feedback on this and similar market action reports. Gloria Matlin is located at the Glencoe, Illinois Coldwell Banker Residential real estate office, within the downtown village center-640 Vernon Avenue, 60022.

 

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