By Art Wilson, Realtor
Evanston’s September Property sales were 75, down -21.9% from 96 in September of 2016 and -34.2% lower than the 114 sales last month. September 2017 sales were at their lowest level compared to September of 2016 and 2015. September YTD sales of 872 are running -5.8% behind last year's year-to-date sales of 926.
The Median Sales Price in September was $320,500, up 13.5% from $282,500 in September of 2016 and down -6.6% from $343,000 last month. The Average Sales Price in September was $436,455, up 7.4% from $406,394 in September of 2016 and down -3.2% from $450,800 last month. September 2017 ASP was at highest level compared to September of 2016 and 2015.
The Total Inventory of Properties available for sale as of September was 262, down -2.2% from 268 last month and down -10.3% from 292 in September of last year. September 2017 Inventory was at the lowest level compared to September of 2016 and 2015.
The September 2017 Month’s Supply of Inventory of 3.5 months was at a mid range compared with September 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 September was 39, up 14.7% from 34 days last month and up 18.2% from 33 days in September of last year. The September 2017 DOM was at a mid range compared with September 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 September 2017 Selling Price vs List Price of 94.8% was down from 95.8% last month and down from 95.0% in September of last year.
The number of New Listings in September 2017 was 133, down -8.3% from 145 last month and down -3.6% from 138 in September of last year.
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