Winnetka IL Real Estate Market Action Report October 2013

By Art Wilson, Realtor

Winnetka's September Property sales were 19, up 35.7% from 14 in September of 2012 and -44.1% lower than the 34 sales last month. September 2013 sales were at a mid level compared to September of 2012 and 2011. September YTD sales of 224 are running 17.9% ahead of last year's year-to-date sales of 190.

 The Median Sales Price in September was $1,025,000, down -1.3% from $1,038,500 in September of 2012 and down -14.4% from $1,197,500 last month. The Average Sales Price in September was $1,264,342, up 26.0% from $1,003,250 in September of 2012 and down -17.1% from $1,525,759 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 111, down -2.6% from 114 last month and down -25.5% from 149 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 5.8 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 59, up 28.3% from 46 days last month and up 25.5% from 47 days in September of last year. The September 2013 DOM was at a mid range compared with September 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 September 2013 Selling Price vs List Price of 95.2% was down from 96.6% last month and up from 93.1% in September of last year.

The number of New Listings in September 2013 was 34, down -8.1% from 37 last month and up 25.9% from 27 in September of last year.