By Art Wilson, Realtor
Glenview's March Property sales were 49, down -7.5% from 53 in March of 2013 and 22.5% higher than the 40 sales last month. March 2014 sales were at a mid level compared to March of 2013 and 2012. March YTD sales of 131 are running -14.4% behind last year's year-to-date sales of 153.
The Median Sales Price in March was $498,800, up 54.7% from $322,500 in March of 2013 and up 27.5% from $391,363 last month. The Average Sales Price in March was $504,829, up 31.3% from $384,436 in March of 2013 and up 24.6% from $405,222 last month. March 2014 ASP was at highest level compared to March of 2013 and 2012.
The Total Inventory of Properties available for sale as of March was 182, up 7.1% from 170 last month and down -24.5% from 241 in March of last year.
March 2014 Inventory was at the lowest level compared to March of 2013 and 2012.
The March 2014 Months Supply of Inventory of 3.7 months was at its lowest level compared with March of 2013 and 2012. 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 March was 39, down -47.3% from 74 days last month and down -65.2% from 112 days in March of last year. The March 2014 DOM was at its lowest level compared with March of 2013 and 2012.
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 March 2014 Selling Price vs List Price of 98.9% was down from 100.6% last month and up from 94.3% in March of last year.
The number of New Listings in March 2014 was 117, up 27.2% from 92 last month and down -9.3% from 129 in March of last year.