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 2010. 2012 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.