Glenview IL Real Estate Market Action Report May 2014

By
Real Estate Agent with Coldwell Banker Residential Brokerage

By Art Wilson, Realtor

Glenview's April Property sales were 63, down -23.2% from 82 in April of 2013 and 14.5% higher than the 55 sales last month. April 2014 sales were at a mid level compared to April of 2013 and 2012. April YTD sales of 200 are running -14.9% behind last year's year-to-date sales of 235.

 The Median Sales Price in April was $420,000, up 9.9% from $382,000 in April of 2013 and down -11.6% from $475,000 last month. The Average Sales Price in April was $484,317, up 13.0% from $428,515 in April of 2013 and up 0.9% from $480,173 last month. April 2014 ASP was at highest level compared to April of 2013 and 2012.

The Total Inventory of Properties available for sale as of April was 211, up 8.2% from 195 last month and down -17.6% from 256 in April of last year. April 2014 Inventory was at the lowest level compared to April of 2013 and 2012.

The April 2014 Months Supply of Inventory  of 3.3 months was at a mid range compared with April 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 April was 42, down -4.5% from 44 days last month and down -47.5% from 80 days in April of last year. The April 2014 DOM was at its lowest level compared with April 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 April 2014 Selling Price vs List Price of 99.2% was up from 98.4% last month and up from 96.9% in April of last year.

The number of New Listings in April 2014 was 153, up 28.6% from 119 last month and up 8.5% from 141 in April of last year.

 

Posted by

Art Wilson, Broker, ABR, CRP, CRS
Coldwell Banker Residential Brokerage        
552 Lincoln Ave.Winnetka, IL 60093              

Cell: 847-363-1599

Serving Chicago's North Shore Suburbs

Art.Wilson@cbexchange.com 
www.NorthShoreHomesOnline.com

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