By Art Wilson, Realtor
Glenview’s September Property sales were 69, down -4.2% from 72 in September of 2016 and -22.5% lower than the 89 sales last month. September 2017 sales were at their lowest level compared to September of 2016 and 2015. September YTD sales of 724 are running 7.4% ahead of last year's year-to-date sales of 674.
The Median Sales Price in September was $460,000, up 5.7% from $435,000 in September of 2016 and up 10.0% from $418,000 last month. The Average Sales Price in September was $504,731, up 1.6% from $496,989 in September of 2016 and up 5.0% from $480,505 last month. September 2017 ASP was at highest level compared to September of 2016 and 2015.
The Total Inventory of Properties available for sale as of September was 324, down -1.5% from 329 last month and down -20.4% from 407 in September of last year. September 2017 Inventory was at the lowest level compared to September of 2016 and 2015.
The September 2017 Month’s Supply of Inventory of 4.7 months was at its lowest 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 38, down -24.0% from 50 days last month and down -25.5% from 51 days in September of last year. The September 2017 DOM was at its lowest 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 95.3% was up from 94.6% last month and up from 93.3% in September of last year.
The number of New Listings in September 2017 was 130, up 27.5% from 102 last month and down -8.5% from 142 in September of last year.
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