By Art Wilson, Realtor
Winnetka’s May Property sales were 19, down -20.8% from 24 in May of 2016 and -34.5% lower than the 29 sales last month. May 2017 sales were at their lowest level compared to May of 2016 and 2015. May YTD sales of 107 are running 23.0% ahead of last year's year-to-date sales of 87.
The Median Sales Price in May was $1,040,000, equal to $1,040,000 in May of 2016 and up 12.9% from $921,000 last month. The Average Sales Price in May was $1,272,026, up 1.9% from $1,248,125 in May of 2016 and up 18.3% from $1,075,198 last month. May 2017 ASP was at a mid range compared to May of 2016 and 2015.
The Total Inventory of Properties available for sale as of May was 172, down -2.3% from 176 last month and down -21.8% from 220 in May of last year. May 2017 Inventory was at the lowest level compared to May of 2016 and 2015.
The May 2017 Month’s Supply of Inventory of 9.1 months was at a mid range compared with May 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 May was 87, up 13.0% from 77 days last month and up 33.8% from 65 days in May of last year. The May 2017 DOM was at its highest level compared with May 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 May 2017 Selling Price vs List Price of 92.9% was up from 91.7% last month and up from 91.7% in May of last year.
The number of New Listings in May 2017 was 55, up 7.8% from 51 last month and down -34.5% from 84 in May of last year.
