By Art Wilson, Realtor
Highland Park's June property sales were 63, up 1.6%
from 62 in June of 2013 and 34.0% higher than the 47 sales last month. June
2014 sales were at their highest level compared to June of 2013 and 2012. June
YTD sales of 214 are running -16.7% behind last year's year-to-date sales of
The Median Sales Price in June was $507,000, up
15.5% from $439,000 in June of 2013 and down -17.2% from $612,500 last month.
The Average Sales Price in June was $631,641, up 20.2% from $525,611 in June of
2013 and up 2.7% from $615,286 last month. June 2014 ASP was at highest level
compared to June of 2013 and 2012.
The Total Inventory of Properties available for sale
as of June was 238, up 5.8% from 225 last month and down -3.6% from 247 in June
of last year. June 2014 Inventory was at the lowest level compared to June of
2013 and 2012.
The June 2014 Months Supply of Inventory of 3.8
months was at its lowest level compared with June of 2013 and 2012. A
comparatively lower MSI is more beneficial for sellers while a higher MSI is
better for buyers.
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 June was 63, up 12.5% from 56 days last month and down -19.2% from
78 days in June of last year. The June 2014 DOM was at its lowest level
compared with June of 2013 and 2012.
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 June 2014 Selling Price vs
List Price of 95.9% was up from 94.6% last month and up from 95.8% in June of
The number of New Listings in June 2014 was 107,
down -8.5% from 117 last month and up 11.5% from 96 in June of last year.