By Art Wilson, Realtor
Winnetka's March Property sales were 12, down -14.3% from 14 in March of 2013 and 20.0% higher than the 10 sales last month. March 2014 sales were at their lowest level compared to March of 2013 and 2012. March YTD sales of 29 are running 7.4% ahead of last year's year-to-date sales of 27.
The Median Sales Price in March was $824,500, up 10.3% from $747,500 in March of 2013 and down -11.1% from $927,500 last month. The Average Sales Price in March was $1,066,542, up 28.7% from $828,464 in March of 2013 and up 16.1% from $918,900 last month. March 2014 ASP was at a mid range compared to March of 2013 and 2012.
The Total Inventory of Properties available for sale as of March was 117, up 9.3% from 107 last month and down -1.7% from 119 in March of last year. March 2014 Inventory was at the lowest level compared to March of 2013 and 2012.
The March 2014 Months Supply of Inventory of 9.8 months was at a mid range compared with March 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 March was 72, up 5.9% from 68 days last month and down -40.0% from 120 days in March of last year. The March 2014 DOM was at its lowest level compared with March 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 March 2014 Selling Price vs List Price of 96.6% was up from 94.1% last month and up from 92.9% in March of last year.
The number of New Listings in March 2014 was 56, up 27.3% from 44 last month and up 16.7% from 48 in March of last year.
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