By Art Wilson, Realtor
Glenview's May Property sales were 97, up 18.3% from 82 in May of 2015 and 70.2% higher than the 57 sales last month. May 2016 sales were at their highest level compared to May of 2015 and 2014. May YTD sales of 302 are running 12.3% ahead of last year's year-to-date sales of 269.
The Median Sales Price in May was $430,000, down -5.2% from $453,750 in May of 2015 and up 7.5% from $400,000 last month. The Average Sales Price in May was $477,384, down -10.4% from $532,862 in May of 2015 and down -7.1% from $513,764 last month. May 2016 ASP was at the lowest level compared to May of 2015 and 2014.
The Total Inventory of Properties available for sale as of May was 358, up 3.5% from 346 last month and up 2.9% from 348 in May of last year. May 2016 Inventory was at highest level compared to May of 2015 and 2014.
The May 2016 Months Supply of Invnetory of 3.7 months was at a mid range compared with May 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 May was 43, down -38.6% from 70 days last month and down -12.2% from 49 days in May of last year. The May 2016 DOM was at its lowest level compared with May 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 May 2016 Selling Price vs List Price of 97.1% was up from 96.5% last month and up from 96.3% in May of last year.
The number of New Listings in May 2016 was 188, down -9.2% from 207 last month and up 7.4% from 175 in May of last year.