By Art Wilson, Realtor
Glencoe's November Property sales were 10, up 42.9% from 7 in November of 2014 and 42.9% higher than the 7 sales last month. November 2015 sales were at a mid level compared to November of 2014 and 2013. November YTD sales of 112 are running -8.2% behind last year's year-to-date sales of 122.
The Median Sales Price in November was $857,000, up 10.3% from $777,000 in November of 2014 and up 19.0% from $720,000 last month. The Average Sales Price in November was $919,227, down -12.9% from $1,054,857 in November of 2014 and up 20.5% from $763,000 last month. November 2015 ASP was at the lowest level compared to November of 2014 and 2013.
The Total Inventory of Properties available for sale as of November was 74, down -14.0% from 86 last month and up 2.8% from 72 in November of last year. November 2015 Inventory was at highest level compared to November of 2014 and 2013.
The November 2015 Months Supply Of Inventory of 7.4 months was at a mid range compared with November 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 November was 71, up 36.5% from 52 days last month and up 82.1% from 39 days in November of last year. The November 2015 DOM was at its highest level compared with November of 2014 and 2013.
The Selling Price vs Listing Price reveals 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 November 2015 Selling Price vs List Price of 93.1% was down from 93.3% last month and down from 95.2% in November of last year.
The number of New Listings in November 2015 was 11, down -59.3% from 27 last month and down -35.3% from 17 in November of last year.
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