By Art Wilson, Realtor
Evanston's April Property sales were 104, up 25.3% from 83 in April of 2014 and 20.9% higher than the 86 sales last month. April 2015 sales were at a mid level compared to April of 2014 and 2013. April YTD sales of 275 are running 22.8% ahead of last year's year-to-date sales of 224.
The Median Sales Price in April was $316,500, down -9.6% from $350,000 in April of 2014 and up 18.8% from $266,500 last month. The Average Sales Price in April was $396,981, down -1.4% from $402,510 in April of 2014 and up 19.4% from $332,530 last month. April 2015 ASP was at the lowest level compared to April of 2014 and 2013.
The Total Inventory of Properties available for sale as of April was 332, up 9.9% from 302 last month and down -1.2% from 336 in April of last year. April 2015 Inventory was at the lowest level compared to April of 2014 and 2013.
The April 2015 Months Supply of Inventory of 3.2 months was at a mid range compared with April of 2014 and 2013. 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 April was 68, up 3.0% from 66 days last month and up 17.2% from 58 days in April of last year. The April 2015 DOM was at a mid range compared with April of 2014 and 2013.
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 April 2015 Selling Price vs List Price of 96.6% was up 96.3% last month and down from 97.7% in April of last year.
The number of New Listings in April 2015 was 198, up 4.8% from 189 last month and up 13.8% from 174 in April of last year.
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