By Art Wilson, Realtor
Glenview's October Property sales were 52, down -20.0% from 65 in October of 2013 and -29.7% lower than the 74 sales last month. October 2014 sales were at their lowest level compared to October of 2013 and 2012. October YTD sales of 683 are running -12.8% behind last year's year-to-date sales of 783.
The Median Sales Price in October was $445,000, up 37.3% from $324,000 in October of 2013 and up 8.7% from $409,500 last month. The Average Sales Price in October was $516,211, up 43.4% from $359,876 in October of 2013 and up 14.6% from $450,315 last month. October 2014 ASP was at highest level compared to October of 2013 and 2012.
The Total Inventory of Properties available for sale as of October was 252, down -9.4% from 278 last month and up 0.8% from 250 in October of last year. October 2014 Inventory was at a mid range compared to October of 2013 and 2012.
The October 2014 Months Supply of Inventory of 4.8 months was at a mid range compared with October 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 October was 34, down -17.1% from 41 days last month and down -27.7% from 47 days in October of last year. The October 2014 DOM was at its lowest level compared with October 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 October 2014 Selling Price vs List Price of 96.3% was equal to 96.3% last month and down from 98.4% in October of last year.
The number of New Listings in October 2014 was 88, down -32.8% from 131 last month and down -12.0% from 100 in October of last year.
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