By Art Wilson, Realtor
Glencoe's October Property sales were 10, down -9.1% from 11 in October of 2013 and -16.7% lower than the 12 sales last month. October 2014 sales were at a mid level compared to October of 2013 and 2012. October YTD sales of 113 are running -23.1% behind last year's year-to-date sales of 147.
The Median Sales Price in October was $835,000, up 19.3% from $700,000 in October of 2013 and down -6.2% from $890,000 last month. The Average Sales Price in October was $1,608,340, up 101.4% from $798,727 in October of 2013 and up 27.2% from $1,264,740 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 79, down -4.8% from 83 last month and down -7.1% from 85 in October of last year. October 2014 Inventory was at the lowest level compared to October of 2013 and 2012.
The October 2014 Months Supply of Inventory of 7.9 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 57, up 29.5% from 44 days last month and up 21.3% from 47 days in October of last year. The October 2014 DOM was at a mid range 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 93.2% was up from 92.0% last month and down from 95.2% in October of last year.
The number of New Listings in October 2014 was 17, down -26.1% from 23 last month and down -26.1% from 23 in October of last year.
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