By Art Wilson, Realtor
Wilmette's June Property sales were 58, down -14.7% from 68 in June of 2016 and -3.3% lower than the 60 sales last month. June 2017 sales were at their lowest level compared to June of 2016 and 2015. June YTD sales of 255 are running -2.3% behind last year's year-to-date sales of 261.
The Median Sales Price in June was $650,000, down -4.8% from $682,500 in June of 2016 and up 3.4% from $628,750 last month. The Average Sales Price in June was $779,300, up 3.3% from $754,699 in June of 2016 and up 8.3% from $719,883 last month. June 2017 ASP was at highest level compared to June of 2016 and 2015.
The Total Inventory of Properties available for sale as of June was 194, down -10.6% from 217 last month and down -20.5% from 244 in June of last year. June 2017 Inventory was at the lowest level compared to June of 2016 and 2015.
The June 2017 Months Suppluy of Inventory of 3.3 months was at a mid range 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 47, down -7.8% from 51 days last month and down -20.3% from 59 days in June of last year. The June 2017 DOM was at a mid range 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 94.2% was up from 93.0% last month and up from 94.0% in June of last year
The number of New Listings in June 2017 was 82, down -7.9% from 89 last month and down -24.8% from 109 in June of last year.