Wilmette IL Real Estate Market Action Report January 2016

By
Real Estate Agent with Coldwell Banker Residential Brokerage

By Art Wilson, Realtor

Wilmette's December Property sales were 31, up 6.9% from 29 in December of 2014 and 14.8% higher than the 27 sales last month. December 2015 sales were at their highest level compared to December of 2014 and 2013. December YTD sales of 448 are running -3.4% behind last year's year-to-date sales of 464.

The Median Sales Price in December was $705,000, up 42.4% from $495,000 in December of 2014 and up 4.4% from $675,000 last month. The Average Sales Price in December was $988,403, up 40.3% from $704,351 in December of 2014 and up 17.3% from $842,963 last month. December 2015 ASP was at highest level compared to December of 2014 and 2013.

The Total Inventory of Properties available for sale as of December was 123, down -20.6% from 155 last month and up 25.5% from 98 in December of last year. December 2015 Inventory was at highest level compared to December of 2014 and 2013.

The December 2015 Months Supply of Inventory of 4.0 months was at a mid range compared with December 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 December was 100, up 29.9% from 77 days last month and up 244.8% from 29 days in December of last year. The December 2015 DOM was at its highest level compared with December 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 December 2015 Selling Price vs List Price of 94.8% was down from 95.3% last month and down from 96.0% in December of last year.

The number of New Listings in December 2015 was 20, down -41.2% from 34 last month and up 11.1% from 18 in December 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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