By Art Wilson, Realtor
Glenview's February Property sales were 39, down -27.8% from 54 in February of 2013 and -7.1% lower than the 42 sales last month. February 2014 sales were at a mid level compared to February of 2013 and 2012. February YTD sales of 81 are running -19.0% behind last year's year-to-date sales of 100.
The Median Sales Price in February was $396,000, up 26.0% from $314,215 in February of 2013 and down -7.4% from $427,500 last month. The Average Sales Price in February was $407,176, up 8.2% from $376,200 in February of 2013 and down -26.0% from $549,932 last month. February 2014 ASP was at highest level compared to February of 2013 and 2012.
The Total Inventory of Properties available for sale as of February was 152, down -1.3% from 154 last month and down -39.4% from 251 in February of last year. February 2014 Inventory was at the lowest level compared to February of 2013 and 2012.
The February 2014 Months Supply of Inventory of 3.9 months was at its lowest level compared with February of 2013 and 2012. 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 February was 72, up 14.3% from 63 days last month and down -14.3% from 84 days in February of last year. The February 2014 DOM was at its lowest level compared with February of 2013 and 2012.
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 February 2014 Selling Price vs List Price of 100.6% was up from 95.8% last month and up from 96.4% in February of last year.
The number of New Listings in February 2014 was 92, up 12.2% from 82 last month and down -1.1% from 93 in February of last year.
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