JUNE SALES DATA FOR CHICAGOLAND
June Property sales were 10,071, down -9.7% from 11,148 in June of 2013 and 4.8% higher than the 9,611 sales last month. June 2014 sales were at a mid level compared to June of 2013 and 2012. June YTD sales of 46,419 are running -9.4% behind last year's year-to-date sales of 51,262.
Prices
The Median Sales Price in June was $225,000, up 7.5% from $209,225 in June of 2013 and up 7.1% from $210,000 last month. The Average Sales Price in June was $292,519, up 4.2% from $280,772 in June of 2013 and up 7.4% from $272,461 last month. June 2014 ASP was at highest level compared to June of 2013 and 2012.
Inventory & MSI
The Total Inventory of Properties available for sale as of June was 39,075, down -1.0% from 39,472 last month and down -8.1% from 42,532 in June of last year. June 2014 Inventory was at the lowest level compared to June of 2013 and 2012.
A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The June 2014 MSI of 3.9 months was at a mid range compared with June of 2013 and 2012.
Market Time
The average Days On Market(DOM) shows how many days the average 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 June was 52, down -10.3% from 58 days last month and down -17.5% from 63 days in June of last year. The June 2014 DOM was at its lowest level compared with June of 2013 and 2012.
Prices
The Median Sales Price in June was $225,000, up 7.5% from $209,225 in June of 2013 and up 7.1% from $210,000 last month. The Average Sales Price in June was $292,519, up 4.2% from $280,772 in June of 2013 and up 7.4% from $272,461 last month. June 2014 ASP was at highest level compared to June of 2013 and 2012.
Inventory & MSI
The Total Inventory of Properties available for sale as of June was 39,075, down -1.0% from 39,472 last month and down -8.1% from 42,532 in June of last year. June 2014 Inventory was at the lowest level compared to June of 2013 and 2012.
A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The June 2014 MSI of 3.9 months was at a mid range compared with June of 2013 and 2012.
Market Time
The average Days On Market(DOM) shows how many days the average 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 June was 52, down -10.3% from 58 days last month and down -17.5% from 63 days in June of last year. The June 2014 DOM was at its lowest level compared with June of 2013 and 2012.
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