By Art Wilson, Realtor
Winnetka's July Property sales were 28, down -6.7% from 30 in July of 2014 and -28.2% lower than the 39 sales last month. July 2015 sales were at their lowest level compared to July of 2014 and 2013. July YTD sales of 153 are running 13.3% ahead of last year's year-to-date sales of 135.
The Median Sales Price in July was $1,084,500, down -11.2% from $1,221,500 in July of 2014 and down -13.5% from $1,253,500 last month. The Average Sales Price in July was $1,249,786, down -4.2% from $1,304,992 in July of 2014 and down -11.7% from $1,416,038 last month. July 2015 ASP was at a mid range compared to July of 2014 and 2013.
The Total Inventory of Properties available for sale as of July was 173, down -10.8% from 194 last month and up 8.8% from 159 in July of last year. July 2015 Inventory was at highest level compared to July of 2014 and 2013.
The July 2015 Months Supply of Inventory of 6.2 months was at its highest level compared with July 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 July was 89, up 15.6% from 77 days last month and up 122.5% from 40 days in July of last year. The July 2015 DOM was at its highest level compared with July 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 July 2015 Selling Price vs List Price of 95.1% was down from 96.1% last month and down from 95.5% in July of last year.
The number of New Listings in July 2015 was 52, up 2.0% from 51 last month and up 20.9% from 43 in July of last year.
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