Wilmette IL Real Estate Market Action Report March 2017

By
Real Estate Agent with Coldwell Banker Residential Brokerage

By Art Wilson, Realtor

Wilmette's February Property sales were 20, down -20.0% from 25 in February of 2016 and equal to 0.0% 20 sales last month. February 2017 sales were at a mid level compared to February of 2016 and 2015. February YTD sales of 40 are running -23.1% behind last year's year-to-date sales of 52.

The Median Sales Price in February was $426,250, down -15.1% from $502,200 in February of 2016 and down -20.6% from $536,750 last month. The Average Sales Price in February was $603,325, down -7.3% from $651,128 in February of 2016 and down -10.4% from $673,368 last month. February 2017 ASP was at the lowest level compared to February of 2016 and 2015.

The Total Inventory of Properties available for sale as of February was 186, up 8.8% from 171 last month and up 6.9% from 174 in February of last year. February 2017 Inventory was at highest level compared to February of 2016 and 2015.

The February 2017 Month’s Supply of Invnetory of 9.3 months was at its highest level compared with February 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 February was 26, down -63.4% from 71 days last month and down -46.9% from 49 days in February of last year. The February 2017 DOM was at its lowest level compared with February 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 100% the more of a Buyer's market exists, a ratio at or above 100% indicates more of a Seller's market. The February 2017 Selling Price vs List Price of 94.0% was up from 91.9% last month and up from 92.7% in February of last year.

The number of New Listings in February 2017 was 101, up 21.7% from 83 last month and up 5.2% from 96 in February of last year. last month and down -14.7% from 75 in February 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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