By Art Wilson, Realtor
Glencoe's July Property sales were 16, down -20.0% from 20 in July of 2015 and -27.3% lower than the 22 sales last month. July 2016 sales were at a mid level compared to July of 2015 and 2014. July YTD sales of 86 are running 21.1% ahead of last year's year-to-date sales of 71.
The Median Sales Price in July was $782,500, down -37.4% from $1,249,500 in July of 2015 and down -11.3% from $882,500 last month. The Average Sales Price in July was $900,031, down -27.2% from $1,236,875 in July of 2015 and down -16.3% from $1,075,000 last month. July 2016 ASP was at the lowest level compared to July of 2015 and 2014.
The Total Inventory of Properties available for sale as of July was 108, down -8.5% from 118 last month and down -0.9% from 109 in July of last year. July 2016 Inventory was at a mid range compared to July of 2015 and 2014.
The July 2016 Months Supply of Inventory of 6.8 months was at its highest level 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 64, up 10.3% from 58 days last month and up 20.8% from 53 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 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 July 2016 Selling Price vs List Price of 96.0% was down from 96.7% last month and up from 93.6% in July of last year.
The number of New Listings in July 2016 was 24, down -36.8% from 38 last month and down -4.0% from 25 in July of last year.
Comments(0)