By Art Wilson, Realtor
Glenview's May Property sales were 8, down -91.8% from 98 in May of 2013 and -87.3% lower than the 63 sales last month. May 2014 sales were at their lowest level compared to May of 2013 and 2012. May YTD sales of 206 are running -38.1% behind last year's year-to-date sales of 333.
The Median Sales Price in May was $492,998, up 28.9% from $382,507 in May of 2013 and up 17.4% from $420,000 last month. The Average Sales Price in May was $448,437, up 6.7% from $420,270 in May of 2013 and down -7.4% from $484,317 last month. May 2014 ASP was at highest level compared to May of 2013 and 2012.
The Total Inventory of Properties available for sale as of May was 46, down -40.3% from 77 last month and down -82.0% from 255 in May of last year. May 2014 Inventory was at the lowest level compared to May of 2013 and 2012.
The May 2014 Months Supply of Inventory of 5.8 months was at a mid range compared with May 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 May was 6, down -85.7% from 42 days last month and down -91.3% from 69 days in May of last year. The May 2014 DOM was at its lowest level compared with May 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 May 2014 Selling Price vs List Price of 98.4% was down from 99.2% last month and up from 96.7% in May of last year.
The number of New Listings in May 2014 was 4, down -91.7% from 48 last month and down -97.1% from 136 in May of last year.