By Art Wilson, Realtor
Winnetka's January Property sales were 20, up 17.6% from 17 in January of 2016 and 17.6% higher than the 17 sales last month. January 2017 sales were at their highest level compared to January of 2016 and 2015. January YTD sales of 20 are running 17.6% ahead of last year's year-to-date sales of 17.
The Median Sales Price in January was $1,166,000, up 28.1% from $910,000 in January of 2016 and down -13.9% from $1,353,750 last month. The Average Sales Price in January was $1,582,950, up 20.9% from $1,309,663 in January of 2016 and up 2.6% from $1,542,897 last month. January 2017 ASP was at highest level compared to January of 2016 and 2015.
The Total Inventory of Properties available for sale as of January was 137, up 16.1% from 118 last month and down -1.4% from 139 in January of last year. January 2017 Inventory was at a mid range compared to January of 2016 and 2015.
The January 2017 Month’s Supply of Inventory of 6.9 months was at a mid range compared with January of 2016 and 2015. 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 95, down -18.8% from 117 days last month and down -37.1% from 151 days in January of last year. The January 2017 DOM was at its lowest level compared with January of 2016 and 2015.
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 the more of a Buyer's market exists, a ratio at or above 100% indicates more of a Seller's market. The January 2017 Selling Price vs List Price of 87.7% was down from 88.7% last month and down from 91.2% in January of last year.
The number of New Listings in January 2017 was 63, up 530.0% from 10 last month and up 1.6% from 62 in January of last year.
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