By Art Wilson, Realtor
Glenview's July Property sales were 85, down -12.4% from 97 in July of 2015 and -21.3% lower than the 108 sales last month. July 2016 sales were at their lowest level compared to July of 2015 and 2014. July YTD sales of 496 are running 1.4% ahead of last year's year-to-date sales of 489.
The Median Sales Price in July was $490,000, down -6.3% from $523,000 in July of 2015 and up 8.0% from $453,750 last month. The Average Sales Price in July was $569,126, down -10.3% from $634,549 in July of 2015 and up 8.7% from $523,718 last month. July 2016 ASP was at a mid range compared to July of 2015 and 2014.
The Total Inventory of Properties available for sale as of July was 380, up 1.1% from 376 last month and down -4.0% from 396 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 4.5 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 43, up 19.4% from 36 days last month and up 2.4% from 42 days in July of last year. The July 2016 DOM was at its highest level 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 95.9% was down from 96.8% last month and down from 97.5% in July of last year.
The number of New Listings in July 2016 was 165, down -7.3% from 178 last month and up 3.8% from 159 in July of last year.