Glencoe's January Property sales were 8, equal to 8 in January of 2012 and 14.3% higher than the 7 sales last month. January 2013 sales were at their lowest level compared to January of 2012 and 2011. January YTD sales of 8 are running equal to last year's year-to-date sales of 8.
The Median Sales Price in January was $712,500, down -3.4% from $737,500 in January of 2012 and up 9.6% from $650,000 last month. The Average Sales Price in January was $771,250, down -506% from $1,562,813 in January of 2012 and up 26.0% from $612,286 last month. January 2013 ASP was at the lowest level compared to January of 2012 and 2011.
The Total Inventory of Properties available for sale as of January was 60, equal to 60 last month and down -38.1% from 97 in January of last year. January 2013 Inventory was at the lowest level compared to January of 2012 and 2011.
The January 2013 Months Supply of Inventory of 7.5 months was at its lowest level compared with January of 2012 and 2011. 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 January was 76, down -21.6% from 97 days last month and down -35.0% from 117 days in January of last year. The January 2013 DOM was at its lowest level compared with January of 2012 and 2011.
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 January 2013 Selling
Price vs List Price of 94.8% was up from 94.0% last month and up from 94.4% in January of last year.
The number of New Listings in January 2013 was 25, up 1150.0% from 2 last month and up 13.6% from 22 in January of last year.
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