Wilmette IL Real Estate Market Action Report February 2013

Wilmette's January Property sales were 18, equal to 18 in January of 2012 and -21.7% lower than the 23 sales last month. January 2013 sales were at their lowest level compared to January of 2012 and 2011. January YTD sales of 18 are running equal to last year's year-to-date sales of 18.

The Median Sales Price in January was $502,500, down -13.4% from $580,000 in January of 2012 and up 16.3% from $432,000 last month.

The Average Sales Price in January was $488,331, down -41.4% from $833,972 in January of 2012 and down -7.9% from $530,304 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 112, up 1.8% from 110 last month and down -37.4% from 179 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 6.2 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 108, up 5.9% from 102 days last month and down -15.0% from 127 days in January of last year. The January 2013 DOM was at a mid range 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 96.6% was up from 95.6% last month and up from 91.3% in January of last year.

The number of New Listings in January 2013 was 43, up 258.3% from 12 last month and down -2.3% from 44 in January of last year.