By Art Wilson, Realtor
Glenview’s June Property sales were 122, up 13.0% from 108 in June of 2016 and 15.1% higher than the 106 sales last month. June 2017 sales were at a mid level compared to June of 2016 and 2015. June YTD sales of 454 are running 10.5% ahead of last year's year-to-date sales of 411.
The Median Sales Price in June was $455,000, up 0.3% from $453,750 in June of 2016 and up 5.8% from $430,000 last month. The Average Sales Price in June was $543,489, up 3.8% from $523,718 in June of 2016 and up 7.3% from $506,491 last month. June 2017 ASP was at a mid range compared to June of 2016 and 2015.
The Total Inventory of Properties available for sale as of June was 346, down -2.5% from 355 last month and down -12.2% from 394 in June of last year. June 2017 Inventory was at the lowest level compared to June of 2016 and 2015.
The June 2017 Months Supply of Inventory of 2.8 months was at its lowest level compared with June 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 June was 46, down -24.6% from 61 days last month and up 27.8% from 36 days in June of last year. The June 2017 DOM was at its highest level compared with June 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 June 2017 Selling Price vs List Price of 95.7% was up from 95.5% last month and up from 95.5% in June of last year.
The number of New Listings in June 2017 was 192, up 14.3% from 168 last month and up 7.9% from 178 in June of last year