Glencoe IL Real Estate Market Action Report July 2015

By
Real Estate Agent with Coldwell Banker Residential Brokerage

 

 

By Art Wilson, Realtor

 

Glencoe's June Property sales were 11, down -35.3% from 17in June of 2014 and 57.1% higher than the 7 sales last month. June 2015 saleswere at their lowest level compared to June of 2014 and 2013. June YTD sales of51 are running -20.3% behind last year's year-to-date sales of 64.

The Median Sales Price in June was $930,000, down -9.3%from $1,025,000 in June of 2014 and down -20.2% from $1,165,000 last month. TheAverage Sales Price in June was $969,409, down -27.6% from $1,339,441 in Juneof 2014 and down -14.7% from $1,136,429 last month. June 2015 ASP was at the lowestlevel compared to June of 2014 and 2013.

The Total Inventory of Properties available for sale as ofJune was 99, up 1.0% from 98 last month and up 20.7% from 82 in June of lastyear. June 2015 Inventory was at highest level compared to June of 2014 and2013.

The June 2015 Months Supply of Inventory of 9.0 months wasat its highest level compared with June of 2014 and 2013. A comparatively lowerMSI is more beneficial for sellers while a higher MSI is better for buyers.

The average Days On Market (DOM) is how many days theaverage Property is on the Market before it sells. An upward trend in DOM tendsto indicate a move towards more of a Buyer's market, a downward trend a movetowards more of a Seller's market. The DOM for June was 135, down -9.4% from149 days last month and up 275.0% from 36 days in June of last year. The June2015 DOM was at a mid range compared with June of 2014 and 2013.

The Selling Price vs Listing Price is the average amountthat Sellers are agreeing to come down from their list price. The lower the ratiois 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 2015 Selling Price vs List Priceof 94.0% was up from 93.9% last month and down from 95.1% in June of last year.

The number of New Listings in June 2015 was 34, down -10.5%from 38 last month and down -2.9% from 35 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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Jim Crawford
Crye-Leike REALTORS® - Atlanta, GA
Jim Crawford Atlanta Best Listing Agents & REALTOR

Art Wilson, thank you for taking the time to share this market report.  This is great info for buyers and sellers alike!

Jul 21, 2015 09:54 PM #1
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