Winnetka IL Real Estate Market Action Report July 2014

By
Real Estate Agent with Coldwell Banker Residential Brokerage

By Art Wilson, Realtor

Winnetka's June Property sales were 27, down -50.9% from 55 in June of 2013 and -6.9% lower than the 29 sales last month. June 2014 sales were at their lowest level compared to June of 2013 and 2012. June YTD sales of 105 are running -21.1% behind last year's year-to-date sales of 133.
 
The Median Sales Price in June was $1,300,000, up 40.5% from $925,000 in June of 2013 and up 2.4% from $1,270,000 last month. The Average Sales Price in June was $1,286,750, down -2.9% from $1,325,395 in June of 2013 and down -9.8% from $1,426,738 last month. June 2014 ASP was at the lowest level compared to June of 2013 and 2012.

The Total Inventory of Properties available for sale as of June was 165, up 5.8% from 156 last month and up 34.1% from 123 in June of last year. June 2014 Inventory was at highest level compared to June of 2013 and 2012.

A comparatively lower Months Supply of Inventory is more beneficial for sellers while a higher MSI is better for buyers. The June 2014 MSI of 6.1 months was at its highest level compared with June of 2013 and 2012.

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 June was 70, equal to 70 days last month and up 27.3% from 55 days in June of last year. The June 2014 DOM was at a mid range compared with June 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 June 2014 Selling Price vs List Price of 95.7% was up from 94.6% last month and down from 95.9% in June of last year.

The number of New Listings in June 2014 was 58, down -9.4% from 64 last month and up 23.4% from 47 in June 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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