Feb Market Action-2014Prices

More Spring ready  Chicago real estate surges…The Median Sales Price in February was up 17.6% based on market action reporting in February of 2013 and down -8.5% from totals last month. The Average Sales Price in February was up 11.2% compared to February of 2013 and down -19.4% based on figures calculated last month. February 2014 ASP was at highest level compared to February of 2013 and 2012.

Property Sales

Chicago North Shore February Property sales were down -12.0% from market action reporting in February of 2013 and -18.7% lower than the sales figures last month. February 2014 sales were at a mid-level compared to February of 2013 and 2012. February YTD sales of 359 are running 0.8% ahead of last year’s year-to-date sales totals.

Inventory & MSI

The Total North Shore Inventory of Properties available for sale as of February was up 3.3% from last month and down -27.6% compared to February of last year. February 2014 Inventory was at the lowest level compared to February of 2013 and 2012.

 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 February was 67, up 4.7% from 64 days last month and down -34.3% from 102 days in February of last year. The February 2014 DOM was at its lowest level compared with February of 2013 and 2012.

 Selling Price vs Listing Price

The Selling Price vs Listing Price reveals the average amount that North Shore Sellers are agreeing to come down from their list price. The lower the ratio is below 100% the more of a Buyer’s market exists, a ratio at or above 100% indicates more of a North Shore Seller’s market. The February 2014 Selling Price vs List Price of 97.0% was up from 95.0% last month and up from 94.6% in February of last year

 Inventory / New Listings / Sales

The view above summarizes the North Shore-Chicago market combining monthly inventory of Properties for sale along with New Listings and Sales. The graph shows the basic annual seasonality of the North Shore market as well as the relationship between these items. The number of New Listings in February 2014 was up 21.4% from last month and down -10.6% from sales volumes calculated in February of last year.

Spring is HERE!  The North Shore real estate market shows no sign of slowing. Now is the perfect time to contact North Shore’s consummate Realtor professional. With over 25 years of award-winning, top performing, high-ranking, high producing real estate accomplishments, Gloria Matlin prides herself on being an invaluable client resource.  Let her help you make your North Shore real estate dreams come true!  Gloria Matlin can be found in the top-tier Coldwell Banker Residential Real Estate office of Glencoe, Illinois-640 Vernon Avenue, 60022.

 

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