By Art Wilson, Realtor
Glenview’s July Property sales were 104, up 19.5% from 87 in July of 2016 and -20.0% lower than the 130 sales last month. July 2017 sales were at their highest level compared to July of 2016 and 2015. July YTD sales of 566 are running 13.7% ahead of last year's year-to-date sales of 498.
The Median Sales Price in July was $475,000, down -3.1% from $490,000 in July of 2016 and up 3.1% from $460,500 last month. The Average Sales Price in July was $573,177, down -0.3% from $575,180 in July of 2016 and up 5.1% from $545,195 last month. July 2017 ASP was at the lowest level compared to July of 2016 and 2015.
The Total Inventory of Properties available for sale as of July was 356, down -2.7% from 366 last month and down -14.8% from 418 in July of last year. July 2017 Inventory was at the lowest level compared to July of 2016 and 2015.
The July 2017 Month’s Supply of Inventory of 3.4 months was at its lowest level compared with July 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 July was 44, equal to 44 days last month and down -2.2% from 45 days in July of last year. The July 2017 DOM was at a mid range compared with July 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 July 2017 Selling Price vs List Price of 95.0% was down from 95.9% last month and up from 94.2% in July of last year.
The number of New Listings in July 2017 was 149, down -22.0% from 191 last month and down -9.7% from 165 in July of last year.