By Art Wilson, Realtor
Glencoe's September Property sales were 12, equal to 12 in September of 2014 and equal to 0.0% 12 sales last month. September 2015 sales were at their lowest level compared to September of 2014 and 2013. September YTD sales of 95 are running -7.8% behind last year's year-to-date sales of 103.
The Median Sales Price in September was $791,000, down -11.1% from $890,000 in September of 2014 and down -21.9% from $1,013,000 last month. The Average Sales Price in September was $1,015,722, down -19.7% from $1,264,740 in September of 2014 and down -5.6% from $1,075,458 last month. September 2015 ASP was at the lowest level compared to September of 2014 and 2013.
The Total Inventory of Properties available for sale as of September was 88, down -10.2% from 98 last month and up 4.8% from 84 in September of last year. September 2015 Inventory was at highest level compared to September of 2014 and 2013.
The September 2015 Months Supply of Inventory of 7.3 months was at its highest level compared with September 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 September was 57, up 26.7% from 45 days last month and up 29.5% from 44 days in September of last year. The September 2015 DOM was at its highest level compared with September 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 September 2015 Selling Price vs List Price of 94.1% was up from 93.9% last month and up from 92.0% in September of last year.
The number of New Listings in September 2015 was 19, up 11.8% from 17 last month and down -17.4% from 23 in September of last year.
Comments(1)