AprilMarketReport-GM-2014Property Sales

Chicago North Shore April Property sales were 285, down -19.0% from market action reporting in in April of 2013 and 32.6% higher than the 215 sales last month. April 2014 North Shore sales were at a mid-level compared to April of 2013 and 2012. April YTD sales totals are running -10.0% behind last year’s year-to-date sales results.

Prices

The Median North Shore Sales Price in April was up 6.2% from North Shore market totals in April of 2013 and down -1.5% from sales volume totals calculated last month. The Average Sales Price in April was up 7.5% from totals generated in April of 2013 and down -4.3% from last month. April 2014 ASP was at highest level compared to April of 2013 and 2012.

Inventory & MSI

The Total Inventory of Chicago North Shore Properties available for sale as of April was up 9.9% from reporting calculated last month and down -11.3% from figures generated in April of last year. April 2014 North Shore Inventory was at the lowest level compared to April of 2013 and 2012. A comparatively lower MSI is more beneficial for North Shore sellers while a higher MSI is better for North Shore buyers. The April 2014 MSI of 4.4 months was at a mid-range compared with April of 2013 and 2012

Market Time

The average Chicago North Shore 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 April was 61, down -7.6% from 66 days last month and down -17.6% from 74 days in April of last year. The April 2014 DOM was at its lowest level compared with April of 2013 and 2012.

Inventory / New Listings / Sales

The North Shore summary view above of the Chicago North Shore market combines monthly inventory of Properties for sale along with New North Shore Listings and Sales. The graph shows the basic annual seasonality of the market action reporting as well as the relationship between these items. The number of New North Shore Listings in April 2014 was up 17.5% compared to last month and up 1.8% from North Shore real estate volume figures in April of last year.

 

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