By Art Wilson, Realtor
Highland Park's September Property sales were 47, down -9.6% from 52 in September of 2013 and -27.7% lower than the 65 sales last month. September 2014 sales were at a mid level compared to September of 2013 and 2012. September YTD sales of 378 are running -13.9% behind last year's year-to-date sales of 439.
The Median Sales Price in September was $440,000, down -25.8% from $593,050 in September of 2013 and down -12.4% from $502,500 last month. The Average Sales Price in September was $512,913, down -25.0% from $683,613 in September of 2013 and down -18.7% from $630,918 last month. September 2014 ASP was at the lowest level compared to September of 2013 and 2012.
The Total Inventory of Properties available for sale as of September was 245, equal to 245 last month and up 6.1% from 231 in September of last year.September 2014 Inventory was at a mid range compared to September of 2013 and 2012.
The September 2014 Months Supply of Inventory of 5.2 months was at a mid range compared with September 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 September was 54, up 14.9% from 47 days last month and down -16.9% from 65 days in September of last year. The September 2014 DOM was at its lowest level compared with September 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 September 2014 Selling Price vs List Price of 95.0% was down from 95.3% last month and down from 96.9% in September of last year.
The number of New Listings in September 2014 was 79, up 12.9% from 70 last month and up 23.4% from 64 in September of last year.
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