By Art Wilson, Realtor
Glenview's December Property sales were 54, down -5.3% from 57 in December of 2015 and -5.3% lower than the 57 sales last month. December 2016 sales were at a mid level compared to December of 2015 and 2014. December YTD sales of 855 are running 3.3% ahead of last year's year-to-date sales of 828.
The Median Sales Price in December was $477,500, up 16.5% from $410,000 in December of 2015 and up 2.7% from $465,000 last month. The Average Sales Price in December was $613,699, up 24.0% from $494,778 in December of 2015 and up 15.9% from $529,463 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 270, down -20.4% from 339 last month and down -2.2% from 276 in December of last year. December 2016 Inventory was at a mid range compared to December of 2015 and 2014.
The December 2016 Month’s Supply of Inventory of 5.0 months was at its highest level 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 61, up 24.5% from 49 days last month and up 13.0% from 54 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 96.0% was up from 94.5% last month and down from 96.3% in December of last year.
The number of New Listings in December 2016 was 43, down -44.2% from 77 last month and up 4.9% from 41 in December of last year.