By Art Wilson, Realtor
Evanston's April Property sales were 100, up 88.7% from 53 in April of 2012 and 42.9% higher than the 70 sales last month. April 2013 sales were at their highest level compared to April of 2012 and 2011. April YTD sales of 261 are running 37.4% ahead of last year's year-to-date sales of 190.
The Median Sales Price in April was $376,125, up 58.0% from $238,000 in April of 2012 and up 15.0% from $326,950 last month. The Average Sales Price in April was $424,842, up 44.6% from $293,743 in April of 2012 and up 17.5% from $361,571 last month. April 2013 ASP was at highest level compared to April of 2012 and 2011.
The Total Inventory of Properties available for sale as of April was 284, up 4.4% from 272 last month and down -43.8% from 505 in April of last year. April 2013 Inventory was at the lowest level compared to April of 2012 and 2011.
The April 2013 Months supply of Inventory of 2.8 months was at its lowest level compared with April 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 April was 75, down -6.3% from 80 days last month and down -1.3% from 76 days in April of last year. The April 2013 DOM was at its lowest level compared with April 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 April 2013 Selling Price vs List Price of 96.6% was up from 96.5% last month and up from 95.2% in April of last year.
The number of New Listings in April 2013 was 183, up 15.1% from 159 last month and up 23.6% from 148 in April of last year.
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