Glenview IL Real Estate Market Action Report December 2016

By
Real Estate Agent with Coldwell Banker Residential Brokerage

By Art Wilson, Realtor

Glenview's November Property sales were 55, up 10.0% from 50 in November of 2015 and -21.4% lower than the 70 sales last month. November 2016 sales were at their highest level compared to November of 2015 and 2014. November YTD sales of 799 are running 3.6% ahead of last year's year-to-date sales of 771.

The Median Sales Price in November was $420,000, up 3.1% from $407,500 in November of 2015 and up 2.4% from $410,250 last month. The Average Sales Price in November was $519,807, up 8.3% from $479,821 in November of 2015 and down -2.9% from $535,116 last month. November 2016 ASP was at highest level compared to November of 2015 and 2014.

The Total Inventory of Properties available for sale as of November was 326, down -7.1% from 351 last month and up 1.2% from 322 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 5.9 months was at a mid range 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 50, down -10.7% from 56 days last month and down -2.0% from 51 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 94.5% was equal to 94.5% last month and down from 96.0% in November of last year.

The number of New Listings in November 2016 was 75, down -30.6% from 108 last month and up 4.2% from 72 in November of last year.

Posted by

Art Wilson, Broker, ABR, CRP, CRS
Coldwell Banker Residential Brokerage        
552 Lincoln Ave.Winnetka, IL 60093              

Cell: 847-363-1599

Serving Chicago's North Shore Suburbs

Art.Wilson@cbexchange.com 
www.NorthShoreHomesOnline.com

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