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Here’s a look at the Highland Park, IL housing market for the month of July, 2010.

Property Sales:
July was a pretty dismal month for sales–just 13 homes sold. Infact, it was the least amount of sales in Highland Park in a single month since February of 2010, which also saw only 13 sales. This is a 51.9% decrease from July, 2009 and a 68.3% decrease from June, 2010 sales.

Prices:
The median list price of July listings was $639,900 while the average list price was $1,071,946.
July’s median sale price was $500,000 while the average sale price was $503,308.
This median sale price is down 27.2% from July of last year and down just 1.6% from last month.
The average sale price is down 22.7% from July, 2009 and down 24.7% from last month.

Inventory: The total number of properties for sale in July was 319, down 2.7% from last month and down 18.8% from July, 2009. This represents a 24.5 month supply of inventory — meaning at this rate, it will take 2 years to clear out all of the current inventory. This is very beneficial for buyers – LOTS of options!!
The average days on market in July, 2010 was 139 which is down 16.3% from last month and UP 19.8% from July of last year.

Market Time:

Selling vs. Original List Price: The July, 2010 ratio of selling price vs. original listing price was 92% — up from last month’s ratio of $83.6% and also up from the 82.8% ratio of July, 2009.

New Listings: The number of new listings in July was 52, down from 72 last month and 63 last year.

Below are the complete graphics for all of the above information. Click on “Fullscreen” to enlarge it.

Contact me should you have any questions, or if you’d like to see market information for any other suburb!

Best,
Stephanie

Stephanie Hofman, Coldwell Banker, Highland Park, IL
Cell: 847-652-1902
Email: Stephanie.Hofman@cbexchange.com
Website: http://www.StephanieHofmanHomes.com
“Stephanie should be YOUR real estate agent!”