By Art Wilson, Realtor
Glenview's March Property sales were 62, up 34.8% from 46 in March of 2015 and 26.5% higher than the 49 sales last month. March 2016 sales were at their highest level compared to March of 2015 and 2014. March YTD sales of 148 are running 20.3% ahead of last year's year-to-date sales of 123.
The Median Sales Price in March was $416,500, up 4.1% from $400,000 in March of 2015 and up 5.4% from $395,000 last month. The Average Sales Price in March was $468,757, up 10.5% from $424,254 in March of 2015 and up 13.8% from $411,789 last month. March 2016 ASP was at a mid range compared to March of 2015 and 2014.
The Total Inventory of Properties available for sale as of March was 300, up 9.5% from 274 last month and up 3.1% from 291 in March of last year. March 2016 Inventory was at highest level compared to March of 2015 and 2014.
The March 2016 Months Supply of Inventory of 4.8 months was at a mid range compared with March of 2015 and 2014. 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 March was 70, up 4.5% from 67 days last month and up 34.6% from 52 days in March of last year. The March 2016 DOM was at its highest level compared with March of 2015 and 2014.
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 March 2016 Selling Price vs List Price of 95.7% was down from 97.0% last month and down from 96.5% in March of last year.
The number of New Listings in March 2016 was 180, up 32.4% from 136 last month and up 3.4% from 174 in March of last year.