Winnetka IL Real Estate Market Action Report January 2017

By Art Wilson, Realtor

Winnetka's December Property sales were 17, up 6.3% from 16 in December of 2015 and -5.6% lower than the 18 sales last month. December 2016 sales were at a mid level compared to December of 2015 and 2014. December YTD sales of 269 are running 13.0% ahead of last year's year-to-date sales of 238.

The Median Sales Price in December was $1,353,750, up 13.8% from $1,190,000 in December of 2015 and up 67.6% from $807,500 last month. The Average Sales Price in December was $1,542,897, up 4.3% from $1,479,125 in December of 2015 and up 53.5% from $1,004,917 last month. December 2016 ASP was at highest level compared to December of 2015 and 2014.

The Total Inventory of Properties available for sale as of December was 114, down -30.5% from 164 last month and down -8.8% from 125 in December of last year. December 2016 Inventory was at a mid range compared to December of 2015 and 2014.

The December 2016 Months Supply of Inventory of 6.7 months was at a mid range compared with December 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 December was 117, up 244.1% from 34 days last month and up 23.2% from 95 days in December of last year. The December 2016 DOM was at its highest level compared with December 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 December 2016 Selling Price vs List Price of 92.9% was down from 94.6% last month and down from 95.1% in December of last year.

The number of New Listings in December 2016 was 9, down -55.0% from 20 last month and down -25.0% from 12 in December of last year.