Glenview IL Real Estate Market Action Report September 2014

By
Real Estate Agent with Coldwell Banker Residential Brokerage

By Art Wilson, Realtor

 

Glenview's August Property sales were 83, down -20.2% from 104 in August of 2013 and -12.6% lower than the 95 sales last month. August 2014 sales were at their lowest level compared to August of 2013 and 2012. August YTD sales of 556 are running -13.1% behind last year's year-to-date sales of 64

The Median Sales Price in August was $449,000, up 3.9% from $432,250 in August of 2013 and up 7.2% from $419,000 last month. The Average Sales Price in August was $509,902, up 1.1% from $504,108 in August of 2013 and down -3.8% from $530,301 last month. August 2014 ASP was at highest level compared to August of 2013 and 2012.

The Total Inventory of Properties available for sale as of August was 254, down -9.0% from 279 last month and up 4.1% from 244 in August of last year. August 2014 Inventory was at a mid range compared to August of 2013 and 2012.

The August 2014 Months Supply of Inventory of 3.1 months was at a mid range compared with August 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 August was 44, up 46.7% from 30 days last month and down -4.3% from 46 days in August of last year. The August 2014 DOM was at its lowest level compared with August 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 August 2014 Selling Price vs List Price of 96.9% was down from 97.6% last month and down from 97.2% in August of last year.

The number of New Listings in August 2014 was 114, down -14.3% from 133 last month and up 7.5% from 106 in August 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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