By Art Wilson, Realtor
Glenview's January Property sales were 41, up 10.8% from 37 in January of 2016 and -25.5% lower than the 55 sales last month. January 2017 sales were at their highest level compared to January of 2016 and 2015. January YTD sales of 41 are running 10.8% ahead of last year's year-to-date sales of 37.
The Median Sales Price in January was $424,000, up 12.5% from $377,000 in January of 2016 and down -11.7% from $480,000 last month. The Average Sales Price in January was $512,182, up 10.8% from $462,339 in January of 2016 and down -17.8% from $623,140 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 279, equal to 279 last month and up 12.5% from 248 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 6.8 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 57, down -6.6% from 61 days last month and down -13.6% from 66 days in January of last year. The January 2017 DOM was at its lowest level 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 95.0% was up from 93.3% last month and up from 92.1% in January of last year.
The number of New Listings in January 2017 was 113, up 169.0% from 42 last month and up 27.0% from 89 in January of last year.