First Quarter 2014 is turning into a Seller Market

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

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