By Art Wilson, Realtor
Wilmette's January Property sales were 27, up 58.8% from 17 in January of 2015 and -10.0% lower than the 30 sales last month. January 2016 sales were at their highest level compared to January of 2015 and 2014. January YTD sales of 27 are running 58.8% ahead of last year's year-to-date sales of 17.
The Median Sales Price in January was $565,000, up 54.8% from $365,000 in January of 2015 and down -17.8% from $687,500 last month. The Average Sales Price in January was $728,450, up 41.4% from $515,140 in January of 2015 and down -7.5% from $787,683 last month. January 2016 ASP was at highest level compared to January of 2015 and 2014.
The Total Inventory of Properties available for sale as of January was 147, up 12.2% from 131 last month and up 34.9% from 109 in January of last year. January 2016 Inventory was at highest level compared to January of 2015 and 2014.
The January 2016 Months Supply of Inventory of 5.4 months was at a mid range compared with January of 2015 and 2014. 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 January was 80, down -22.3% from 103 days last month and up 23.1% from 65 days in January of last year. The January 2016 DOM was at its highest level compared with January of 2015 and 2014.
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 January 2016 Selling Price vs List Price of 95.1% was up from 94.5% last month and down from 95.4% in January of last year.
The number of New Listings in January 2016 was 82, up 331.6% from 19 last month and up 54.7% from 53 in January of last year.
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