Glencoe IL Real Estate Market Action Report January 2017

By
Real Estate Agent with Coldwell Banker Residential Brokerage

By Art Wilson, Realtor

Glencoe's December Property sales were 6, down -66.7% from 18 in December of 2015 and -33.3% lower than the 9 sales last month. December 2016 sales were at their lowest level compared to December of 2015 and 2014. December YTD sales of 143 are running 10.0% ahead of last year's year-to-date sales of 130.

The Median Sales Price in December was $787,500, up 7.5% from $732,500 in December of 2015 and down -5.7% from $835,000 last month. The Average Sales Price in December was $883,333, down -6.6% from $945,583 in December of 2015 and up 7.7% from $820,000 last month. December 2016 ASP was at the lowest level compared to December of 2015 and 2014.

The Total Inventory of Properties available for sale as of December was 66, down -19.5% from 82 last month and down -5.7% from 70 in December of last year. December 2016 Inventory was at a mid range compared to December of 2015 and 2014.

A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The December 2016 MSI of 11.0 months was at its highest level compared with December of 2015 and 2014.

The average Days On Market(DOM) shows 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 December was 63, down -56.8% from 146 days last month and up 50.0% from 42 days in December of last year. The December 2016 DOM was at a mid range compared with December of 2015 and 2014.

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 December 2016 Selling Price vs List Price of 96.9% was up from 92.2% last month and up from 94.2% in December of last year.

The number of New Listings in December 2016 was 8, down -20.0% from 10 last month and up 60.0% from 5 in December of last year.

Posted by

Art Wilson, Broker, ABR, CRP, CRS
Coldwell Banker Residential Brokerage        
552 Lincoln Ave.Winnetka, IL 60093              

Cell: 847-363-1599

Serving Chicago's North Shore Suburbs

Art.Wilson@cbexchange.com 
www.NorthShoreHomesOnline.com

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