By Art Wilson, Realtor
Glenview's March Property sales were 56, down -9.7% from 62 in March of 2016 and 36.6% higher than the 41 sales last month. March 2017 sales were at a mid level compared to March of 2016 and 2015. March YTD sales of 138 are running -6.8% behind last year's year-to-date sales of 148.
The Median Sales Price in March was $389,000, down -6.6% from $416,500 in March of 2016 and down -2.8% from $400,000 last month. The Average Sales Price in March was $502,001, up 7.1% from $468,757 in March of 2016 and up 12.7% from $445,486 last month. March 2017 ASP was at highest level compared to March of 2016 and 2015.
The Total Inventory of Properties available for sale as of March was 339, up 1.2% from 335 last month and up 1.8% from 333 in March of last year. March 2017 Inventory was at highest level compared to March of 2016 and 2015.
The March 2017 Month’s Supply of Inventory of 6.1 months was at a mid range compared with March 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 March was 73, up 40.4% from 52 days last month and up 4.3% from 70 days in March of last year. The March 2017 DOM was at its highest level compared with March 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 March 2017 Selling Price vs List Price of 94.6% was up from 92.7% last month and up from 92.9% in March of last year.
The number of New Listings in March 2017 was 199, up 32.7% from 150 last month and up 10.6% from 180 in March of last year.