By Art Wilson, Realtor
Wilmette's May Property
sales were 49, down -9.3% from 54 in May of 2012 and 11.4% higher than the 44
sales last month. May 2013 sales were at a mid level compared to May of 2012 and
2011. May YTD sales of 151 are running 6.3% ahead of last year's year-to-date
sales of 142.
The Median Sales
Price in May was $500,008, down -9.9% from $555,000 in May of 2012 and down
-10.6% from $559,500 last month. The Average Sales Price in May was $613,029,
down -7.5% from $662,514 in May of 2012 and down -5.7% from $650,401 last month.
May 2013 ASP was at the lowest level compared to May of 2012 and 2011.
The Total Inventory of
Properties available for sale as of May was 135, up 6.3% from 127 last month and
down -16.7% from 162 in May of last year. May 2013 Inventory was at the lowest
level compared to May of 2012 and 2011.
The May 2013 Months Supply
of Inventory of 2.8 months was at its lowest level compared with May of 2012 and
2011. 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 May was 40,
down -41.2% from 68 days last month and down -57.9% from 95 days in May of last
year. The May 2013 DOM was at its lowest level compared with May of 2012 and
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 May
2013 Selling Price vs List Price of 97.0% was up from 96.3% last month and up
from 94.0% in May of last year.
The number of New Listings in May 2013 was 88, up 8.6% from 81 last month and up 109.5% from 42 in May of last year.