By Art Wilson, Realtor
Evanston's September Property sales were 104, up 25.3% from 83 in September of 2014 and -16.8% lower than the 125 sales last month. September 2015 sales were at their highest level compared to September of 2014 and 2013. September YTD sales of 889 are running 16.4% ahead of last year's year-to-date sales of 764.
The Median Sales Price in September was $342,000, up 6.9% from $320,000 in September of 2014 and up 21.3% from $282,000 last month. The Average Sales Price in September was $401,072, down -0.7% from $403,930 in September of 2014 and up 6.9% from $375,278 last month. September 2015 ASP was at a mid range compared to September of 2014 and 2013.
The Total Inventory of Properties available for sale as of September was 352, down -6.1% from 375 last month and down -7.9% from 382 in September of last year. September 2015 Inventory was at the lowest level compared to September of 2014 and 2013.
The September 2015 Months Supply of Inventory of 3.4 months was at its lowest level compared with September 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 September was 46, down -13.2% from 53 days last month and down -14.8% from 54 days in September of last year. The September 2015 DOM was at its lowest level compared with September 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 September 2015 Selling Price vs List Price of 96.2% was down from 96.4% last month and equal to 96.2% in September of last year.
The number of New Listings in September 2015 was 134, up 2.3% from 131 last month and down -10.7% from 150 in September of last year.
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