Glencoe's October Property sales were 9, down -25.0% from 12 in October of 2011 and -10.0% lower than the 10 sales last month. October 2012 sales were at their lowest level compared to October of 2011 and 2010. October YTD sales of 132 are running 11.9% ahead of last year's year-todate sales of 118.
The Median Sales Price in October was $750,000, down -18.9% from $924,500 in October of 2011 and up 25.8% from $596,250 last month. The Average Sales Price in October was $1,188,000, up 17.4% from $1,012,053 in October of 2011 and up 47.9% from $803,250 last month. October 2012 ASP was at highest level compared to October of 2011 and 2010.
The Total Inventory of Properties available for sale as of October was 73, down -9.9% from 81 last month and down -33.6% from 110 in October of last year. October 2012 Inventory was at the lowest level compared to October of 2011 and 2010.
The October 2012 Months Supply of Inventory of 8.1 months was at its lowest level compared with October 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 October was 89, up 21.9% from 73 days last month and down -20.5% from 112 days in October of last year. The October 2012 DOM was at its lowest level compared with October 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 October 2012 Selling Price vs List Price of 96.0% was up from 92.6% last month and up from 88.6% in October of last year.
The number of New Listings in October 2012 was 20, up 11.1% from 18 last month and down -4.8% from 21 in October of last year.
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