By Art Wilson, Realtor
Wilmette's March Property sales were 28, down -12.5% from 32 in March of 2014 and 47.4% higher than the 19 sales last month. March 2015 sales were at a mid level compared to March of 2014 and 2013. March YTD sales of 64 are running -15.8% behind last year's year-to-date sales of 76.
The Median Sales Price in March was $747,450, up 45.3% from $514,500 in March of 2014 and up 86.4% from $401,000 last month. The Average Sales Price in March was $857,542, up 37.7% from $622,563 in March of 2014 and up 4.3% from $822,211 last month. March 2015 ASP was at highest level compared to March of 2014 and 2013.
The Total Inventory of Properties available for sale as of March was 150, up 19.0% from 126 last month and up 59.6% from 94 in March of last year. March 2015 Inventory was at highest level compared to March of 2014 and 2013.
The March 2015 Months Supply of Inventory of 5.4 months was at its highest level compared with March of 2014 and 2013. 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 45, down -36.6% from 71 days last month and down -36.6% from 71 days in March of last year. The March 2015 DOM was at its lowest level compared with March of 2014 and 2013.
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 2015 Selling Price vs List Price of 95.1% was down from 95.5% last month and up from 94.2% in March of last year.
The number of New Listings in March 2015 was 104, up 48.6% from 70 last month
and up 52.9% from 68 in March of last year.
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