By Art Wilson, Realtor
Winnetka's November Property sales were 9, down -55.0% from 20 in November of 2013 and -43.8% lower than the 16 sales last month. November 2014 sales were at their lowest level compared to November of 2013 and 2012. November YTD sales of 221 are running -16.6% behind last year's year-to-date sales of 265.
The Median Sales Price in November was $985,000, up 6.2% from $927,500 in November of 2013 and down -10.8% from $1,104,000 last month. The Average Sales Price in November was $1,195,017, up 5.0% from $1,137,776 in November of 2013 and down -7.0% from $1,284,465 last month. November 2014 ASP was at highest level compared to November of 2013 and 2012.
The Total Inventory of Properties available for sale as of November was 124, down -14.5% from 145 last month and up 27.8% from 97 in November of last year. November 2014 Inventory was at highest level compared to November of 2013 and 2012.
The November 2014 Months Supply of Inventory of 13.8 months was at its highest level compared with November 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 November was 33, down -77.6% from 147 days last month and down -49.2% from 65 days in November of last year. The November 2014 DOM was at its lowest level compared with November 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 November 2014 Selling Price vs List Price of 97.3% was up from 93.4% last month and up from 96.7% in November of last year.
The number of New Listings in November 2014 was 15, down -53.1% from 32 last month and down -11.8% from 17 in November of last year.
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