By Art Wilson, Realtor
Glencoe’s June Property sales were 23, up 4.5% from 22 in June of 2016 and -4.2% lower than the 24 sales last month. June 2017 sales were at their highest level compared to June of 2016 and 2015. June YTD sales of 84 are running 20.0% ahead of last year's year-to-date sales of 70.
The Median Sales Price in June was $830,000, down -5.9% from $882,500 in June of 2016 and down -17.2% from $1,002,960 last month. The Average Sales Price in June was $961,402, down -10.6% from $1,075,000 in June of 2016 and down -18.4% from $1,178,348 last month. June 2017 ASP was at the lowest level compared to June of 2016 and 2015.
The Total Inventory of Properties available for sale as of June was 103, down -6.4% from 110 last month and down -15.6% from 122 in June of last year. June 2017 Inventory was at the lowest level compared to June of 2016 and 2015.
The June 2017 Months Supply of Inventory of 4.5 months was at its lowest level compared with June 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 June was 44, up 12.8% from 39 days last month and down -24.1% from 58 days in June of last year. The June 2017 DOM was at its lowest level compared with June 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 June 2017 Selling Price vs List Price of 92.5% was down from 94.2% last month and down from 94.5% in June of last year.
The number of New Listings in June 2017 was 27, down -20.6% from 34 last month and down -30.8% from 39 in June of last year.