By Art Wilson, Realtor
Glenview’s August Property sales were 88, down -15.4% from 104 in August of 2016 and -15.4% lower than the 104 sales last month. August 2017 sales were at their lowest level compared to August of 2016 and 2015. August YTD sales of 654 are running 8.6% ahead of last year's year-to-date sales of 602.
The Median Sales Price in August was $419,000, down -10.1% from $466,250 in August of 2016 and down -11.8% from $475,000 last month. The Average Sales Price in August was $482,477, down -10.8% from $541,062 in August of 2016 and down -15.8% from $573,177 last month. August 2017 ASP was at the lowest level compared to August of 2016 and 2015.
The Total Inventory of Properties available for sale as of August was 324, down -11.2% from 365 last month and down -21.9% from 415 in August of last year. August 2017 Inventory was at the lowest level compared to August of 2016 and 2015.
The August 2017 Month’s Supply of Inventory of 3.7 months was at its lowest level compared with August 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 August was 50, up 13.6% from 44 days last month and up 25.0% from 40 days in August of last year. The August 2017 DOM was at its highest level compared with August 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 August 2017 Selling Price vs List Price of 94.5% was down from 95.0% last month and up from 94.0% in August of last year.
The number of New Listings in August 2017 was 102, down -32.0% from 150 last month and down -24.4% from 135 in August of last year.