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2012 Single Family Home Sales Report for Highland Park, IL

A recap of the 2012 Highland Park housing market.

2012 home sales report for Highland Park, IL.

Did 2012 mark the beginning of a housing market recovery? Well, at least a stabilization of the market. 

Last year, 338 Highland Park single family homes sold - this is a 16% increase over 2011, and a 14% increase over 2010.

The average sale price for a Highland Park home sold in 2012 was $579,112 and the average list price was $630,399 - just a touch higher than 2011 but lower than 2010.

Average market time was dramatically lower in 2012 vs. the previous 2 years -  likely due to the reduction of available inventory combined with low interest rates, leading to more buyers taking the plunge to purchase.

Peak market time over the past 3 years was close to 200 days, in January, 2011, while the shortest time frame for a home to go from listing to sale was in November of last year - just under 80 days. Lower market times is a great indicator that the housing market is strengthening.

The number of homes available for sale swelled and receded seasonally over the past three years, with inventory decreasing overall since 20102012 ended with a three-year low of available homes for sale--only 152 units available vs. the peak inventory of 346 units in July, 2010.

Activity in 2012 shows that the Highland Park real estate market is moving in a positive direction--let's see what 2013 brings!

 

For more information on Highland Park housing market, or so find out what your home is worth,  check out my website or call me at 847-652-1902.

Real estate market data provided by Stephanie Hofman of Coldwell Banker, Highland Park, IL. Data collected from the MLS.

This post is contributed by a community member. The views expressed in this blog are those of the author and do not necessarily reflect those of Patch Media Corporation. Everyone is welcome to submit a post to Patch. If you'd like to post a blog, go here to get started.

forest barbieri January 08, 2013 at 10:57 PM
Great marketing tool :) There is no doubt that while a few buys can still be had and while the market is not booming, activity has picked up substantially. Over the last 12 months we have seen tear downs and major home reconstruction projects start to creep back. I have even seen a couple of....dare I say it? Spec homes built! Serious investors were in the market since the crash and now we see others joining the Frey with multiple bids on distressed or reasonably priced homes. A few we have been involved with over the last 6 months have had up to six offers in a matter of hours or days. Demand will continue to build on a slow curve and with that demand; prices should begin to creep up. Do not get too excited as it will be awhile before we see the glimmer of craziness pre 2007. Nonetheless, Americans have short memories, Banks have us to bail them out when they get stupid and a rising housing market creates jobs and makes a lot of people money satisfying our never ending quest for bigger, better, more. Therefore, I predict a slowly rising market that will turn into a stampede in a few years when the general public hears about the ROI investors are making and seeing REIT’s swimming in profits as John Q Public comes to the party late but with numbers to start the craziness again :).
Stephanie Hofman January 09, 2013 at 01:19 AM
Thanks for the comment, Forest - I too have been heartened to see a few spec homes popping up, and savvy investors have snapped up some great deals on distressed properties, and have had good luck making repairs and selling them. I think it will be a long while til we see the frenzy of the early to mid 2000s...maybe never again...for now I'm hoping to see (and think we will) a slow, steady incrementally increasing market so people can get comfortable buying and selling again!

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