Glencoe IL Real Estate Market Action Report February 2017

By
Real Estate Agent with Coldwell Banker Residential Brokerage

By Art Wilson, Realtor

Glencoe's January Property sales were 9, up 50.0% from 6 in January of 2016 and 50.0% higher than the 6 sales last month. January 2017 sales were at their highest level compared to January of 2016 and 2015. January YTD sales of 9 are running 50.0% ahead of last year's year-to-date sales of 6.

The Median Sales Price in January was $817,500, up 71.2% from $477,500 in January of 2016 and up 3.8% from $787,500 last month. The Average Sales Price in January was $886,444, up 31.6% from $673,538 in January of 2016 and up 0.4% from $883,333 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 79, up 16.2% from 68 last month and up 12.9% from 70 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 8.8 months was at its lowest 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 106, up 68.3% from 63 days last month and up 8.2% from 98 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 88.0% was down from 92.0% last month and up from 86.0% in January of last year.

The number of New Listings in January 2017 was 26, up 188.9% from 9 last month and up 30.0% from 20 in January 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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