Glenview IL Real Estate Market Action Report January 2016

By
Real Estate Agent with Coldwell Banker Residential Brokerage

By Art Wilson, Realtor

Glenview's December Property sales were 56, up 7.7% from 52 in December of 2014 and 12.0% higher than the 50 sales last month. December 2015 sales were at a mid level compared to December of 2014 and 2013. December YTD sales of 827 are running 3.4% ahead of last year's year-to-date sales of 800.

The Median Sales Price in December was $411,500, up 23.4% from $333,500 in December of 2014 and up 1.0% from $407,500 last month. The Average Sales Price in December was $500,934, up 30.4% from $384,052 in December of 2014 and up 4.4% from $479,821 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 245, down -19.1% from 303 last month and up 18.4% from 207 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 4.4 months was at its highest level 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 55, up 7.8% from 51 days last month and up 31.0% from 42 days in December of last year. The December 2015 DOM was at a mid range 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 96.3% was up from 96.0% last month and up from 95.6% in December of last year.

The number of New Listings in December 2015 was 40, down -44.4% from 72 last month and down -21.6% from 51 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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