By Art Wilson, Realtor
Winnetka's February Property sales were 12, equal to 12 in February of 2016 and -40.0% lower than the 20 sales last month. February 2017 sales were at a mid level compared to February of 2016 and 2015. February YTD sales of 32 are running 10.3% ahead of last year's year-to-date sales of 29.
The Median Sales Price in February was $867,500, down -13.9% from $1,007,000 in February of 2016 and down -25.6% from $1,166,000 last month. The Average Sales Price in February was $836,875, down -12.8% from $960,154 in February of 2016 and down -47.1% from $1,582,950 last month. February 2017 ASP was at the lowest level compared to February of 2016 and 2015.
The Total Inventory of Properties available for sale as of February was 155, up 12.3% from 138 last month and down -7.2% from 167 in February of last year. February 2017 Inventory was at a mid range compared to February of 2016 and 2015.
The February 2017 Month’s Supply of Inventory of 12.9 months was at its lowest 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 110, up 15.8% from 95 days last month and down -20.9% from 139 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 88.2% was up from 87.7% last month and down from 89.5% in February of last year.
The number of New Listings in February 2017 was 64, up 1.6% from 63 last month and down -14.7% from 75 in February of last year.