Wilmette IL Real Estate Market Action Report August 2012

Wilmette's July Property sales were 52, up 33.3% from 39 in July of 2011 and -10.3% lower than the 58 sales last month. July 2012 sales were at their highest level compared to July of 2011 and 2010. July YTD sales of 252 are running 26.0% ahead of last year's year-to-date sales of 200.

The Median Sales Price in July was $546,000, down -22.0% from $700,000 in July of 2011 and down -2.9% from $562,500 last month. The Average Sales Price in July was $695,508, down -5.5% from $735,820 in July of 2011 and up 8.7% from $639,856 last month. July 2012 ASP was at the lowest level compared to July of 2011 and 2010.

The Total Inventory of Properties available for sale as of July was 160, down -3.6% from 166 last month and down -32.5% from 237 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 3.1 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 84, up 33.3% from 63 days last month and up 75.0% from 48 days in July of last year. The July 2012 DOM was at a mid range 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 93.7% was down from 95.4% last month and down from 94.9% in July of last year.

The number of New Listings in July 2012 was 54, down 28.9% from 76 last month and down -1.8% from 55 in July of last year.