By Art Wilson, Realtor
Winnetka's May Property sales were 24, down -17.2% from 29 in May of 2014 and 26.3% higher than the 19 sales last month. May 2015 sales were at their lowest level compared to May of 2014 and 2013. May YTD sales of 86 are running 10.3% ahead of last year's year-to-date sales of 78.
The Median Sales Price in May was $1,114,000, down -12.3% from $1,270,000 in May of 2014 and up 5.7% from $1,054,000 last month. The Average Sales Price in May was $1,499,750, up 5.1% from $1,426,738 in May of 2014 and up 17.1% from $1,280,921 last month. May 2015 ASP was at highest level compared to May of 2014 and 2013.
The Total Inventory of Properties available for sale as of May was 187, up 1.6% from 184 last month and up 19.1% from 157 in May of last year. May 2015 Inventory was at highest level compared to May of 2014 and 2013.
The May 2015 Months Supply of Inventory of 7.8 months was at its highest level compared with May 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 May was 38, down -59.6% from 94 days last month and down -45.7% from 70 days in May of last year. The May 2015 DOM was at its lowest level compared with May 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 May 2015 Selling Price vs List Price of 95.4% was up from 94.0% last month and up from 94.6% in May of last year.
The number of New Listings in May 2015 was 68, up 11.5% from 61 last month and up 6.3% from 64 in May of last year.
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