Highland Park IL Real Estate Market Action Report October 2017

By Art Wilson, Realtor

Highland Park’s September Property sales were 38, down -13.6% from 44 in September of 2016 and -34.5% lower than the 58 sales last month. September 2017 sales were at their lowest level compared to September of 2016 and 2015. September YTD sales of 441 are running 11.9% ahead of last year's year-to-date sales of 394.

The Median Sales Price in September was $441,000, down -18.4% from $540,750 in September of 2016 and down -12.7% from $505,000 last month. The Average Sales Price in September was $557,021, up 1.4% from $549,192 in September of 2016 and down -2.5% from $571,547 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 353, down -2.8% from 363 last month and down -4.1% from 368 in September of last year. September 2017 Inventory was at a mid range compared to September of 2016 and 2015.

 The September 2017 Month’s Supply of Inventory of 9.3 months was at its highest level 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 79, up 17.9% from 67 days last month and up 27.4% from 62 days in September of last year. The September 2017 DOM was at its highest level 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 91.0% was up from 90.5% last month and down from 92.3% in September of last year.

The number of New Listings in September 2017 was 93, up 10.7% from 84 last month and down -13.1% from 107 in September of last year.