By Art Wilson, Realtor
Glenview's September Property sales were 62, down -10.1% from 69 in September of 2015 and -39.8% lower than the 103 sales last month. September 2016 sales were at their lowest level compared to September of 2015 and 2014. September YTD sales of 662 are running 2.2% ahead of last year's year-to-date sales of 648.
The Median Sales Price in September was $447,212, down -0.6% from $450,000 in September of 2015 and down -3.8% from $465,000 last month. The Average Sales Price in September was $523,352, up 6.2% from $492,714 in September of 2015 and down -3.1% from $540,004 last month. September 2016 ASP was at highest level compared to September of 2015 and 2014.
The Total Inventory of Properties available for sale as of September was 384, down -3.3% from 397 last month and down -2.3% from 393 in September of last year. September 2016 Inventory was at a mid range compared to September of 2015 and 2014.
The September 2016 Months Supply of Inventory of 6.2 months was at its highest 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 52, up 30.0% from 40 days last month and up 18.2% from 44 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 95.7% was up from 95.6% last month and down from 96.2% in September of last year.
The number of New Listings in September 2016 was 137, up 2.2% from 134 last month and down -4.9% from 144 in September of last year.