Wilmette's December Property sales were 20, down -4.8% from 21 in December of 2011 and -13.0% lower than the 23 sales last month. December 2012 sales were at their lowest level compared to December of 2011 and 2010. December YTD sales of 412 are running 22.6% ahead of last year's year-to-date sales of 336.
The Median Sales Price in December was $492,500, up 16.2% from $424,000 in December of 2011 and up 31.3% from $375,000 last month. The Average Sales Price in December was $563,150, up 9.8% from $512,963 in December of 2011 and up 14.3% from $492,691 last month. December 2012 ASP was at a mid range compared to December of 2011 and 2010.
The Total Inventory of Properties available for sale as of December was 106, down -18.5% from 130 last month and down -38.4% from 172 in December of last year. December 2012 Inventory was at the lowest level compared to December of 2011 and 2010.
The December 2012 Months Supply of inventory of 5.3 months was at its lowest level compared with December 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 December was 97, up 22.8% from 79 days last month and down -40.1% from 162 days in December of last year. The December 2012 DOM was at a mid range compared with December 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 December 2012 Selling Price vs List Price of 93.9% was up from 93.8% last month and up from 90.7% in December of last year.
The number of New Listings in December 2012 was 12, down -57.1% from 28 last month and down -20.0% from 15 in December of last year.
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