By Art Wilson, Realtor
Winnetka's August Property sales were 38, up 52.0% from 25 in August of 2015 and 2.7% higher than the 37 sales last month. August 2016 sales were at a mid level compared to August of 2015 and 2014. August YTD sales of 195 are running 8.3% ahead of last year's year-to-date sales of 180.
The Median Sales Price in August was $1,047,150, down -14.9% from $1,230,000 in August of 2015 and down -20.4% from $1,315,000 last month. The Average Sales Price in August was $1,263,228, down -21.4% from $1,606,701 in August of 2015 and down -11.2% from $1,421,973 last month. August 2016 ASP was at the lowest level compared to August of 2015 and 2014.
The Total Inventory of Properties available for sale as of August was 196, down -10.9% from 220 last month and up 16.7% from 168 in August of last year. August 2016 Inventory was at highest level compared to August of 2015 and 2014.
The August 2016 Months Supply of Inventory of 5.2 months was at a mid range compared with August 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 August was 60, down -11.8% from 68 days last month and up 57.9% from 38 days in August of last year. The August 2016 DOM was at its highest level compared with August 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 August 2016 Selling Price vs List Price of 94.9% was up from 94.6% last month and down from 95.0% in August of last year.
The number of New Listings in August 2016 was 31, down -32.6% from 46 last month and up 3.3% from 30 in August of last year.