By Art Wilson, Realtor
Winnetka's November Property sales were 17, up 41.7% from 12 in November of 2015 and 70.0% higher than the 10 sales last month. November 2016 sales were at their highest level compared to November of 2015 and 2014. November YTD sales of 251 are running 13.1% ahead of last year's year-to-date sales of 222.
The Median Sales Price in November was $815,000, up 17.3% from $695,000 in November of 2015 and down -12.8% from $935,000 last month. The Average Sales Price in November was $1,043,441, up 31.8% from $791,481 in November of 2015 and down -11.8% from $1,183,200 last month. November 2016 ASP was at a mid range compared to November of 2015 and 2014.
The Total Inventory of Properties available for sale as of November was 161, down -17.0% from 194 last month and up 7.3% from 150 in November of last year. November 2016 Inventory was at highest level compared to November of 2015 and 2014.
The November 2016 Month’s Supply of Inventory of 9.5 months was at its lowest level compared with November 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 November was 34, down -59.5% from 84 days last month and down -10.5% from 38 days in November of last year. The November 2016 DOM was at a mid range compared with November 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 November 2016 Selling Price vs List Price of 94.7% was up from 93.6% last month and up from 94.4% in November of last year.
The number of New Listings in November 2016 was 19, down -58.7% from 46 last month and down -13.6% from 22 in November of last year.
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