Glencoe-MarketReport

Monthly Market Update (Click to Play)

Prices

More great news for late summer 2014…The Median Chicago North Shore Sales Price in July was up 2.1% from market action reporting in July of 2013 and down -0.9% from sales figures reported last month. The Average Sales Price in July was up 6.3% from totals calculated in July of 2013 and down -2.0% from last month. July 2014 ASP was at highest level compared to July of 2013 and 2012.

Market Time

The average 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 Buyer’s market, a downward trend a move towards more of a Seller’s market. The DOM for July was 40, down -20.0% from 50 days last month and down -27.3% from 55 days in July of last year. The July 2014 DOM was at its lowest level compared with July of 2013 and 2012.

Property Sales

July Chicago-North Shore Property sales were down -11.9% from totals in July of 2013 and -5.1% lower than sales totals last month. July 2014 sales were at a mid-level compared to July of 2013 and 2012. July YTD sales are running -12.0% behind last year’s year-to-date sales.

Inventory & MSI

The Total Inventory of Northern Shore Properties available for sale as of July was up 2.6% from last month and up 6.6% from July of last year. July 2014 Inventory was at a mid-range compared to July 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 July 2014 MSI of 3.8 months was at a mi- range compared with July of 2013 and 2012.

Inventory / New Listings / Sales

This summary view below of the North Shore-Chicago market combines monthly inventory of Properties for sale along with New Listings and Sales. The graph shows the basic annual seasonality of the market as well as the relationship between these items. The number of New North Shore Listings in July 2014 was down -14.1% from market action reporting total last month and up 3.3% from figures in July of last year.

July2014MarketAction-GM

With over 25 years of the highest quality North Shore real estate service, a sincere and client focused approach to making North Shore real estate dreams come true, Gloria Matlin is the ideal professional you want representing you. Her consummate professionalism, kind nature, tenacious and profoundly knowledgeable style will ensure you can make confident real estate decisions. Whether relocating, downsizing, upsizing, investing, or simply inquiring, she is the trusted resource with a keen and accurate pulse on the current Chicago North Shore real estate market.  Her office is located at 640 Vernon Avenue, Glencoe, Illinois, 60022-Coldwell Banker Residential Real Estate.

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