By Art Wilson, Realtor
Wilmette's January property sales were 20, down -25.9% from 27 in January of 2016 and -9.1% lower than the 22 sales last month. January 2017 sales were at a mid level compared to January of 2016 and 2015. January YTD sales of 20 are running -25.9% behind last year's year-to-date sales of 27.
The Median Sales Price in January was $536,750, down -5.0% from $565,000 in January of 2016 and down -27.3% from $738,750 last month. The Average Sales Price in January was $673,368, down -7.6% from $728,450 in January of 2016 and down -5.1% from $709,295 last month. January 2017 ASP was at a mid range compared to January of 2016 and 2015.
The Total Inventory of Properties available for sale as of January was 162, up 7.3% from 151 last month and up 5.2% from 154 in January of last year. January 2017 Inventory was at highest level compared to January of 2016 and 2015.
The January 2017 Month’s Supply of Inventory of 8.1 months was at its highest level compared with January of 2016 and 2015. 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 January was 71, down -15.5% from 84 days last month and down -11.3% from 80 days in January of last year. The January 2017 DOM was at a mid range compared with January of 2016 and 2015.
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 January 2017 Selling Price vs List Price of 91.9% was up from 90.0% last month and up from 91.2% in January of last year.
The number of New Listings in January 2017 was 83, up 219.2% from 26 last month and equal to 83 in January of last year.
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