By Art Wilson, Realtor
Glencoe's September Property sales were 12, down -42.9% from 21 in September of 2013 and -7.7% lower than the 13 sales last month. September 2014 sales were at a mid level compared to September of 2013 and 2012. September YTD sales of 103 are running -24.3% behind last year's year-to-date sales of 136.
The Median Sales Price in September was $890,000, down -4.3% from $930,000 in September of 2013 and down -8.2% from $970,000 last month. The Average Sales Price in September was $1,264,740, up 3.4% from $1,222,883 in September of 2013 and down -10.0% from $1,405,385 last month. September 2014 ASP was at highest level compared to September of 2013 and 2012.
The Total Inventory of Properties available for sale as of September was 83, down -5.7% from 88 last month and up 1.2% from 82 in September of last year. September 2014 Inventory was at a mid range compared to September of 2013 and 2012.
A comparatively lower Months Supply of Inventory is more beneficial for sellers while a higher MSI is better for buyers. The September 2014 MSI of 6.9 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 44, down -30.2% from 63 days last month and up 12.8% from 39 days in September of last year. The September 2014 DOM was at a mid range 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 92.0% was down from 95.6% last month and down from 95.2% in September of last year.
The number of New Listings in September 2014 was 23, up 9.5% from 21 last month and down -32.4% from 34 in September of last year.
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