Glencoe IL Real Estate Market Action Report August 2012

Glencoe's July Property sales were 17, up 70.0% from 10 in July of 2011 and -22.7% lower than the 22 sales last month. July 2012 sales were at their highest level compared to July of 2011 and 2010. July YTD sales of 87 are running 2.4% ahead of last year's year-to-date sales of 85.

The Median Sales Price in July was $929,000, up 83.1% from $507,500 in July of 2011 and down -12.3% from $1,058,750 last month. The Average Sales Price in July was $980,302, up 43.1% from $685,050 in July of 2011 and down -13.5% from $1,133,002 last month. July 2012 ASP was at a mid range compared to July of 2011 and 2010.  

The Total Inventory of Properties available for sale as of July was 79, down -8.1% from 86 last month and down -42.3% from 137 in July of last year. July 2012 Inventory was at the lowest level compared to July of 2011 and 2010.

The July 2012 Months Supply of Inventory  of 4.6 months was at its lowest level compared with July 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 July was 120, up 25.0% from 96 days last month and up 69.0% from 71 days in July of last year. The July 2012 DOM was at its highest level compared with July of 2011 and 2010.

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 July 2012 Selling Price vs List Price of 95.0% was up from 93.5% last month and up from 94.2% in July of last year.

The number of New Listings in July 2012 was 23, down 4.2% from 24 last month and down -32.4% from 34 in July of last year.