By Art Wilson, Realtor
Glenview's June Property sales were 107, down -13.0% from 123 in June of 2015 and 9.2% higher than the 98 sales last month. June 2016 sales were at a mid level compared to June of 2015 and 2014. June YTD sales of 410 are running 4.6% ahead of last year's year-to-date sales of 392.
The Median Sales Price in June was $457,500, down -5.1% from $482,000 in June of 2015 and up 6.1% from $431,000 last month. The Average Sales Price in June was $527,501, down -7.9% from $572,631 in June of 2015 and up 9.0% from $483,737 last month. June 2016 ASP was at a mid range compared to June of 2015 and 2014.
The Total Inventory of Properties available for sale as of June was 368, down -2.4% from 377 last month and down -7.8% from 399 in June of last year. June 2016 Inventory was at a mid range compared to June of 2015 and 2014.
A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The June 2016 MSI of 3.4 months was at its highest level compared with June of 2015 and 2014.
The average Days On Market(DOM) shows 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 June was 35, down -18.6% from 43 days last month and down -22.2% from 45 days in June of last year. The June 2016 DOM was at a mid range compared with June of 2015 and 2014.
The Selling Price vs Listing Price reveals 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 June 2016 Selling Price vs List Price of 96.8% was down from 97.1% last month and up from 96.7% in June of last year.
The number of New Listings in June 2016 was 177, down -5.9% from 188 last month and down -11.5% from 200 in June of last year.