By Art Wilson, Realtor
Glencoe's October Property sales were 7, down -41.7% from 12 in October of 2014 and -41.7% lower than the 12 sales last month. October 2015 sales were at their lowest level compared to October of 2014 and 2013. October YTD sales of 102 are running -11.3% behind last year's year-to-date sales of 115.
The Median Sales Price in October was $720,000, down -2.1% from $735,500 in October of 2014 and down -9.0% from $791,000 last month. The Average Sales Price in October was $763,000, down -46.6% from $1,428,700 in October of 2014 and down -24.9% from $1,015,722 last month. October 2015 ASP was at the lowest level compared to October of 2014 and 2013.
The Total Inventory of Properties available for sale as of October was 86, down -4.4% from 90 last month and up 6.2% from 81 in October of last year. October 2015 Inventory was at a mid range compared to October of 2014 and 2013.
The October 2015 Months Supply of Inventory of 12.3 months was at its highest level compared with October 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 October was 52, down -8.8% from 57 days last month and up 2.0% from 51 days in October of last year. The October 2015 DOM was at its highest level compared with October of 2014 and 2013.
The Selling Price vs Listing Price reveals 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 October 2015 Selling Price vs List Price of 93.3% was down from 94.1% last month and up from 92.9% in October of last year.
The number of New Listings in October 2015 was 27, up 50.0% from 18 last month and up 50.0% from 18 in October of last year.
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