Glenview IL Real Estate Market Action Report May 2016

By
Real Estate Agent with Coldwell Banker Residential Brokerage

By Art Wilson, Realtor

Glenview's April Property sales were 45, down -29.7% from 64 in April of 2015 and -27.4% lower than the 62 sales last month. April 2016 sales were at their lowest level compared to April of 2015 and 2014. April YTD sales of 193 are running 3.2% ahead of last year's year-to-date sales of 187.

The Median Sales Price in April was $420,000, up 9.9% from $382,250 in April of 2015 and up 0.8% from $416,500 last month. The Average Sales Price in April was $551,012, up 17.8% from $467,933 in April of 2015 and up 17.5% from $468,757 last month. April 2016 ASP was at highest level compared to April of 2015 and 2014.

The Total Inventory of Properties available for sale as of April was 327, up 6.5% from 307 last month and down -4.4% from 342 in April of last year. April 2016 Inventory was at a mid range compared to April of 2015 and 2014.

The April 2016 Months Supply of Inventory of 7.3 months was at its highest level compared with April 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 April was 74, up 5.7% from 70 days last month and up 60.9% from 46 days in April of last year. The April 2016 DOM was at its highest level compared with April 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 April 2016 Selling Price vs List Price of 96.3% was up from 95.7% last month and down from 97.1% in April of last year.

The number of New Listings in April 2016 was 196, up 8.9% from 180 last month and up 9.5% from 179 in April 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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