Winnetka IL Real Estate Market Action Report June 2013

By Art Wilson, Realtor

Winnetka's May Property sales were 35, up 12.9% from 31 in May of 2012 and 133.3% higher than the 15 sales last month. May 2013 sales were at their highest level compared to May of 2012 and 2011. May YTD sales of 77 are running 6.9% ahead of last year's year-to-date sales of 72.

The Median Sales Price in May was $1,250,000, up 65.2% from $756,500 in May of 2012 and up 37.1% from $912,000 last month. The Average Sales Price in May was $1,234,249, up 27.7% from $966,484 in May of 2012 and up 24.6% from $990,533 last month. May 2013 ASP was at a mid range compared to May of 2012 and 2011.

The Total Inventory of Properties available for sale as of May was 118, down -6.3% from 126 last month and down -31.8% from 173 in May of last year. May 2013 Inventory was at the lowest level compared to May of 2012 and 2011.

The May 2013 Months Supply of Inventory of 3.4 months was at its lowest level compared with May of 2012 and 2011. A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers.

The average Days On Market (DOM) is how many days the average Property is on the Market before it sells. An upward trend in DOM tends to indicate a move towards more of a Buyer's market, a downward trend a move towards more of a Seller's market. The DOM for May was 84, up 40.0% from 60 days last month and down -27.0% from 115 days in May of last year. The May 2013 DOM was at its lowest level compared with May of 2012 and 2011.

The Selling Price vs Listing Price is the average amount that Sellers are agreeing to come down from their list price. The lower the ratio is below 100% the more of a Buyer's market exists, a ratio at or above 100% indicates more of a Seller's market. The May 2013 Selling Price vs List Price of 95.1% was down from 96.2% last month and up from 92.7% in May of last year.

The number of New Listings in May 2013 was 54, down -10.0% from 60 last month and up 31.7% from 41 in May of last year.