By Art Wilson, Realtor
Glenview's February Property sales were 40, down -18.4% from 49 in February of 2016 and -2.4% lower than the 41 sales last month. February 2017 sales were at a mid level compared to February of 2016 and 2015. February YTD sales of 81 are running -5.8% behind last year's year-to-date sales of 86.
The Median Sales Price in February was $403,750, up 2.2% from $395,000 in February of 2016 and down -4.8% from $424,000 last month. The Average Sales Price in February was $452,173, up 9.8% from $411,789 in February of 2016 and down -11.7% from $512,182 last month. February 2017 ASP was at a mid range compared to February of 2016 and 2015.
The Total Inventory of Properties available for sale as of February was 323, up 9.1% from 296 last month and up 11.0% from 291 in February of last year. February 2017 Inventory was at highest level compared to February of 2016 and 2015.
The February 2017 Month’s Supply of Inventory of 8.1 months was at its highest level compared with February 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 February was 53, down -7.0% from 57 days last month and down -20.9% from 67 days in February of last year. The February 2017 DOM was at its lowest level compared with February 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 February 2017 Selling Price vs List Price of 92.7% was down from 95.0% last month and down from 93.7% in February of last year.
The number of New Listings in February 2017 was 148, up 28.7% from 115 last month and up 7.2% from 138 in February of last year.
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