Wilmetteâ€™s October Property sales were 21, up 5.0% from 20 in October of 2010 and equal to 0.0% 21 sales last month. October 2011 sales were at their highest level compared to October of 2010 and 2009. October YTD sales of 292 are running -1.4% behind last year's year-to-date sales of 296.
The Median Sales Price in October was $350,000, down -35.4% from $541,750 in October of 2010 and down -33.2% from $523,575 last month. The Average Sales Price in October was $414,747, down -31.6% from $606,575 in October of 2010 and down -36.7% from $655,099 last month. October 2011 ASP was at the lowest level compared to October of 2010 and 2009.
The Total Inventory of Properties available for sale as of October was 201, down -10.3% from 224 last month and down -19.6% from 250 in October of last year. October 2011 Inventory was at the lowest level compared to October of 2010 and 2009.
The October 2011 Months Supply of Inventory of 9.6 months was at its lowest level compared with October of 2010 and 2009. 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 October was 99, up 13.8% from 87 days last month and up 25.3% from 79 days in October of last year. The October 2011 DOM was at a mid range compared with October of 2010 and 2009.
The Selling Price vs Original Listing Price is the average amount that Sellers are agreeing to come down from their original 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 October 2011 Selling Price vs Original List Price of 84.5% was down from 89.5% last month and down from 87.4% in October of last year.
The number of New Listings in October 2011 was 34, down - 26.1% from 46 last month and down -41.4% from 58 in October of last year.