By Art Wilson, Realtor
Winnetka's September Property sales were 24, up 41.2% from 17 in September of 2015 and -38.5% lower than the 39 sales last month. September 2016 sales were at their highest level compared to September of 2015 and 2014. September YTD sales of 220 are running 11.7% ahead of last year's year-to-date sales of 197.
The Median Sales Price in September was $1,262,500, up 27.5% from $990,000 in September of 2015 and up 22.9% from $1,027,300 last month. The Average Sales Price in September was $1,364,354, up 23.0% from $1,109,559 in September of 2015 and up 9.9% from $1,241,992 last month. September 2016 ASP was at a mid range compared to September of 2015 and 2014.
The Total Inventory of Properties available for sale as of September was 205, up 4.1% from 197 last month and up 12.6% from 182 in September of last year. September 2016 Inventory was at highest level compared to September of 2015 and 2014.
The September 2016 Months Supply of Inventory of 8.5 months was at its lowest level compared with September 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 September was 59, equal to 59 days last month and up 3.5% from 57 days in September of last year. The September 2016 DOM was at its highest level compared with September 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 September 2016 Selling Price vs List Price of 94.7% was down from 94.8% last month and up from 93.8% in September of last year.
The number of New Listings in September 2016 was 57, up 83.9% from 31 last month and up 9.6% from 52 in September of last year.
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