By Art Wilson, Realtor
Glencoe’s September Property sales were 6, down -70.0% from 20 in September of 2016 and -57.1% lower than the 14 sales last month. September 2017 sales were at their lowest level compared to September of 2016 and 2015. September YTD sales of 126 are running 4.1% ahead of last year's year-to-date sales of 121.
The Median Sales Price in September was $965,000, up 17.0% from $824,750 in September of 2016 and up 17.1% from $824,025 last month. The Average Sales Price in September was $943,333, up 1.1% from $932,875 in September of 2016 and down -22.4% from $1,215,575 last month. September 2017 ASP was at a mid range compared to September of 2016 and 2015.
The Total Inventory of Properties available for sale as of September was 107, down -1.8% from 109 last month and up 2.9% from 104 in September of last year. September 2017 Inventory was at highest level compared to September of 2016 and 2015.
The September 2017 Month’s Supply of Inventory of 17.8 months was at its highest level compared with September 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 September was 134, up 112.7% from 63 days last month and up 69.6% from 79 days in September of last year. The September 2017 DOM was at its highest level compared with September 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 September 2017 Selling Price vs List Price of 89.5% was down from 91.1% last month and up from 87.4% in September of last year.
The number of New Listings in September 2017 was 23, down -23.3% from 30 last month and up 4.5% from 22 in September of last year.