Glencoe's February Property sales were 7, up 16.7% from 6 in February of 2011 and -12.5% lower than the 8 sales last month. February 2012 sales were at their highest level compared to February of 2011 and 2010. February YTD sales of 15 are running -11.8% behind last year's year-to-date sales of 17.
The Median Sales Price in February was $500,000, down -45.4% from $916,000 in February of 2011 and down -32.2% from $737,500 last month. The Average Sales Price in February was $771,143, down -30.3% from $1,107,000 in February of 2011 and down -50.7% from $1,562,813 last month. February 2012 ASP was at a mid range compared to February of 2011 and 2010.
The Total Inventory of Properties available for sale as of February was 89, down -1.1% from 90 last month and down -14.4% from 104 in February of last year. February 2012 Inventory was at the lowest level compared to February of 2011 and 2010.
The February 2012 Months Supply of Inventory of 12.7 months was at its lowest level compared with February of 2011 and 2010. 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 February was 121, up 3.4% from 117 days last month and down -16.0% from 144 days in February of last year. The February 2012 DOM was at a mid range compared with February of 2011 and 2010.
The Selling Price vs Original Listing Price is the average amount that Sellers are agreeing to come down from their original 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 February 2012 Selling Price vs Original List Price of 81.6% was down from 93.6% last month and down from 86.3% in February of last year.
The number of New Listings in February 2012 was 24, up 14.3% from 21 last month and up 4.3% from 23 in February of last year.
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