First Quarter 2014 is turning into a Seller Market
April 23rd, 2014 categories: For Buyers
Seller Market:
The supply of inventory in a seller market is under 6 month.
Buyer Market:
The supply of inventory in a buyer’s market is over 6 months.
There clearly are fewer homes on the market this year than last year and as a result the market is shifting from a buyer’s market to a sellers market in many of the suburbs. If you are thinking about selling then this may be the year to sell. If you are buying it may cost you a little more this year but we are still below figures from all time high figures in 2006.
| City | # Active Listings | # of Pending | # Closed in 1 Month | # Months of Inventory | Buyer/Seller Market |
| Evanston | 103 | 100 | 29 | 3.4 | Seller |
| Wilmette | 82 | 101 | 28 | 2.9 | Seller |
| Winnetka | 116 | 60 | 10 | 12.0 | Buyer |
| Glencoe | 68 | 32 | 12 | 5.6 | Seller |
| Highland Pk | 139 | 98 | 26 | 5.3 | Seller |
| Glenveiw | 146 | 113 | 37 | 3.5 | Seller |
| Skokie | 133 | 104 | 29 | 4.5 | Seller |
| Lincolnwood | 52 | 37 | 7 | 7.4 | Buyer |
| Northbrook | 136 | 88 | 21 | 6.4 | Buyer |
| Northfield | 31 | 16 | 6 | 5.1 | Buyer |
