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Art Wilson's Blog

By Michele & Art Wilson | Broker in Lake Forest, IL

Winnetka IL Real Estate Market action Report July 2011


Winnetka’s June Property sales were 32, up 6.7% from 30 in June of 2010 and 60.0% higher than the 20 sales last month. June 2011 sales were at their highest level compared to June of 2010 and 2009. June YTD sales of 102 are running 4.1% ahead of last year's year-to-date sales of 98.


The Median Sales Price in June was $1,025,000, down -3.6% from $1,063,500 in June of 2010 and up 4.6% from $980,000 last month. The Average Sales Price in June was $1,228,445, down -0.5% from $1,234,281 in June of 2010 and down -13.3% from $1,417,400 last month. June 2011 ASP was at the lowest level compared to June of 2010 and 2009.


The Total Inventory of Properties available for sale as of June was 204, down -1.0% from 206 last month and down -14.3% from 238 in June of last year. June 2011 Inventory was at the lowest level compared to June of 2010 and 2009.


The June 2011 Months Supply of Inventory of 6.4 months was at its lowest level compared with June 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 June was 97, down -55.5% from 218 days last month and down -1.0% from 98 days in June of last year. The June 2011 DOM was at its lowest level
compared with June 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 June 2011 Selling Price vs Original List Price of 89.4% was up from 83.2% last month and down from 89.9% in June of last year.


The number of New Listings in June 2011 was 48, down - 27.3% from 66 last month and down -22.6% from 62 in June of last year.

 
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