By Art Wilson, Realtor
Winnetka's May Property sales were 28, down -22.2% from 36 in May of 2013 and 55.6% higher than the 18 sales last month. May 2014 sales were at their lowest level compared to May of 2013 and 2012. May YTD sales of 76 are running -2.6% behind last year's year-to-date sales of 78.
The Median Sales Price in May was $1,292,500, up 2.0% from $1,267,625 in May of 2013 and up 43.2% from $902,500 last month. The Average Sales Price in May was $1,459,121, up 17.5% from $1,242,047 in May of 2013 and up 11.9% from $1,303,806 last month. May 2014 ASP was at highest level compared to May of 2013 and 2012.
The Total Inventory of Properties available for sale as of May was 155, up 18.3% from 131 last month and up 24.0% from 125 in May of last year. May 2014 Inventory was at a mid range compared to May of 2013 and 2012.
The May 2014 Months Supply of Inventory of 5.5 months was at a mid range compared with May 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 May was 72, down -33.3% from 108 days last month and down -12.2% from 82 days in May of last year. The May 2014 DOM was at its lowest level compared with May 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 May 2014 Selling Price vs List Price of 94.6% was up from 93.6% last month and down from 95.2% in May of last year.
The number of New Listings in May 2014 was 64, up 39.1% from 46 last month and up 16.4% from 55 in May of last year.
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