By Art Wilson, Realtor
Glenview's February Property sales were 49, up 28.9% from 38 in February of 2015 and 32.4% higher than the 37 sales last month. February 2016 sales were at their highest level compared to February of 2015 and 2014. February YTD sales of 86 are running 11.7% ahead of last year's year-to-date sales of 77.
The Median Sales Price in February was $395,000, down -11.2% from $445,000 in February of 2015 and up 4.8% from $377,000 last month. The Average Sales Price in February was $411,789, down -19.5% from $511,441 in February of 2015 and down -10.9% from $462,339 last month. February 2016 ASP was at a mid range compared to February of 2015 and 2014.
The Total Inventory of Properties available for sale as of February was 261, up 13.5% from 230 last month and up 11.1% from 235 in February of last year. February 2016 Inventory was at highest level compared to February of 2015 and 2014.
The February 2016 Months Supply of Inventory of 5.3 months was at a mid range compared with February 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 February was 67, up1.5% from 66 days last month and up 1.5% from 66 days in February of last year. The February 2016 DOM was at a mid range compared with February 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 February 2016 Selling Price vs List Price of 97.0% was up from 95.9% last month and equal to 97.0% in February of last year.
The number of New Listings in February 2016 was 136, up 54.5% from 88 last month and up 41.7% from 96 in February of last year.
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