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Winnetka IL Real Estate Market Action Report May 2015

By
Real Estate Agent with Coldwell Banker Residential Brokerage

By Art Wilson, Realtor

 

Winnetka's April Property sales were 18, down -5.3% from 19 in April of 2014 and 12.5% higher than the 16 sales last month. April 2015 sales were at a mid level compared to April of 2014 and 2013. April YTD sales of 61 are running 24.5% ahead of last year's year-to-date sales of 49.

The Median Sales Price in April was $1,064,500, up 6.5% from $1,000,000 in April of 2014 and down -4.3% from $1,112,500 last month. The Average Sales Price in April was $1,318,750, down -12.6% from $1,508,868 in April of 2014 and up 16.6% from $1,131,363 last month. April 2015 ASP was at a mid range compared to April of 2014 and 2013.

The Total Inventory of Properties available for sale as of April was 181, up 7.1% from 169 last month and up 36.1% from 133 in April of last year. April 2015 Inventory was at highest level compared to April of 2014 and 2013.

The April 2015 Months Supply of Inventory of 10.1 months was at its highest level 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 100, up 23.5% from 81 days last month and down -9.9% from 111 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 93.8% was down from 96.9% last month and equal to 93.8% in April of last year.

The number of New Listings in April 2015 was 61, down -10.3% from 68 last month and up 32.6% from 46 in April of last year.

Posted by

Art Wilson, Broker, ABR, CRP, CRS
Coldwell Banker Residential Brokerage        
552 Lincoln Ave.Winnetka, IL 60093              

Cell: 847-363-1599

Serving Chicago's North Shore Suburbs

Art.Wilson@cbexchange.com 
www.NorthShoreHomesOnline.com

Comments (1)

Ronald DiLalla
Century 21 Discovery DRE 01813824 - Anaheim, CA
No. Orange Cty Real Estate

 

    Hi, what an opportunity for buyers in the area.  Thanks for sharing with us in AR Land.

 

May 20, 2015 02:41 AM