By Art Wilson, Realtor
Winnetka’s August Property sales were 35, down -10.3% from 39 in August of 2016 and 2.9% higher than the 34 sales last month. August 2017 sales were at a mid level compared to August of 2016 and 2015. August YTD sales of 225 are running 14.8% ahead of last year's year-to-date sales of 196.
The Median Sales Price in August was $1,150,000, up 11.9% from $1,027,300 in August of 2016 and up 10.3% from $1,042,500 last month. The Average Sales Price in August was $1,373,626, up 10.6% from $1,241,992 in August of 2016 and up 22.3% from $1,122,971 last month. August 2017 ASP was at a mid range compared to August of 2016 and 2015.
The Total Inventory of Properties available for sale as of August was 162, down -3.0% from 167 last month and down -19.4% from 201 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 4.6 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 59, down -14.5% from 69 days last month and equal to 59 days in August of last year. The August 2017 DOM was at a mid range 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 91.7% was down from 92.5% last month and down from 92.4% in August of last year.
The number of New Listings in August 2017 was 38, up 2.7% from 37 last month and up 18.8% from 32 in August of last year.