By Art Wilson, Realtor
Winnetka’s July Property sales were 34, down -8.1% from 37 in July of 2016 and -29.2% lower than the 48 sales last month. July 2017 sales were at a mid level compared to July of 2016 and 2015. July YTD sales of 190 are running 21.0% ahead of last year's year-to-date sales of 157.
The Median Sales Price in July was $1,042,500, down -20.7% from $1,315,000 in July of 2016 and down -6.0% from $1,108,750 last month. The Average Sales Price in July was $1,122,971, down -21.0% from $1,421,973 in July of 2016 and down -14.6% from $1,314,915 last month. July 2017 ASP was at the lowest level compared to July of 2016 and 2015.
The Total Inventory of Properties available for sale as of July was 164, down -9.9% from 182 last month and down -26.1% from 222 in July of last year. July 2017 Inventory was at the lowest level compared to July of 2016 and 2015.
The July 2017 Month’s Supply of Inventory of 4.8 months was at its lowest level compared with July 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 July was 69, equal to 69 days last month and up 1.5% from 68 days in July of last year. The July 2017 DOM was at a mid range compared with July 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 July 2017 Selling Price vs List Price of 92.5% was up from 92.1% last month and up from 91.6% in July of last year.
The number of New Listings in July 2017 was 37, down -40.3% from 62 last month and down -19.6% from 46 in July of last year.