By Art Wilson, Realtor
Winnetka's July Property sales were 37, up 23.3% from 30 in July of 2015 and 12.1% higher than the 33 sales last month. July 2016 sales were at their highest level compared to July of 2015 and 2014. July YTD sales of 157 are running 1.3% ahead of last year's year-to-date sales of 155.
The Median Sales Price in July was $1,315,000, up 21.3% from $1,084,500 in July of 2015 and up 4.0% from $1,265,000 last month. The Average Sales Price in July was $1,421,973, up 14.7% from $1,239,467 in July of 2015 and up 1.3% from $1,403,913 last month. July 2016 ASP was at highest level compared to July of 2015 and 2014.
The Total Inventory of Properties available for sale as of July was 219, up 2.3% from 214 last month and up 19.7% from 183 in July of last year. July 2016 Inventory was at highest level compared to July of 2015 and 2014.
The July 2016 Months Supply of Inventory of 5.9 months was at a mid range compared with July 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 July was 68, up 33.3% from 51 days last month and down -20.9% from 86 days in July of last year. The July 2016 DOM was at a mid range compared with July of 2015 and 2014.
The Selling Price vs Listing Pricei 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 July 2016 Selling Price vs List Price of 94.6% was down from 95.9% last month and down from 95.4% in July of last year.
The number of New Listings in July 2016 was 46, down -25.8% from 62 last month and down -11.5% from 52 in July of last year.
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