Winnetka IL Real Estate Market Action Report October 2017

By Art Wilson, Realtor

Winnetka’s September Property sales were 12, down -57.1% from 28 in September of 2016 and -65.7% lower than the 35 sales last month. September 2017 sales were at their lowest level compared to September of 2016 and 2015. September YTD sales of 237 are running 5.8% ahead of last year's year-to-date sales of 224.

The Median Sales Price in September was $1,255,500, up 5.3% from $1,192,500 in September of 2016 and up 9.2% from $1,150,000 last month. The Average Sales Price in September was $1,816,500, up 39.9% from $1,298,464 in September of 2016 and up 32.2% from $1,373,626 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 158, down -2.5% from 162 last month and down -24.4% from 209 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 13.2 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 94, up 59.3% from 59 days last month and up 49.2% from 63 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 89.5% was down from 91.7% last month and down from 91.3% in September of last year.

The number of New Listings in September 2017 was 50, up 31.6% from 38 last month and down -13.8% from 58 in September of last year.