By Art Wilson, Realtor
Highland Park's September Property sales were 52, up 33.3% from 39 in September of 2012 and -26.8% lower than the 71 sales last month. September 2013 sales were at their highest level compared to September of 2012 and 2011. September YTD sales of 439 are running 26.9% ahead of last year's year-to-date sales of 346.
The Median Sales Price in September was $595,000, up 29.3% from $460,000 in September of 2012 and up 24.0% from $480,000 last month. The Average Sales Price in September was $683,688, up 26.3% from $541,359 in September of 2012 and up 29.6% from $527,405 last month. September 2013 ASP was at highest level compared to September of 2012 and 2011.
The Total Inventory of Properties available for sale as of September was 203, down -4.7% from 213 last month and down -33.4% from 305 in September of last year. September 2013 Inventory was at the lowest level compared to September of 2012 and 2011.
The September 2013 Months Supply of Inventory of 3.9 months was at its lowest level compared with September 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 September was 65, down -17.7% from 79days last month and down -30.1% from 93 days in September of last year. The September 2013 DOM was at its lowest level compared with September of2012 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 September 2013 Selling Price vs List Price of 96.9% was up from 95.0% last month and up from 94.1% in September of last year.
The number of New Listings in September 2013 was 63, down -3.1% from 65 last month and up 12.5% from 56 in September of last year.
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