Glencoe Il Real Estate Market Action Report June 2010
The Total Inventory of Properties available for sale as of May was 134, down -2.2% from 137 last month and down -13.5% from 155 in May of last year. May 2010 Inventory was at its lowest level compared with May of 2009 and 2008.
The Median Sales Price in May was $700,000, up 60.9% from $435,000 in May of 2009 and up 5.3% from $665,000 last month. The Average Sales Price in May was $950,967, up 72.4% from $551,633 in May of 2009 and down -3.4% from $984,719 last month. May 2010 ASP was at a mid range compared to May of 2009 and 2008. May Property sales were 14, up 366.7% from 3 in May of 2009 and 75.0% higher than the 8 sales last month. May 2010 sales were at their highest level compared to May of 2009 and 2008. May YTD sales of 44 are running 63.0% ahead of last year's year.
The Total Inventory of Properties available for sale as of May was 134, down -2.2% from 137 last month and down - 13.5% from 155 in May of last year. May 2010 Inventory was at its lowest level compared with May of 2009 and 2008. A comparatively lower Months Supply of Inventory is more beneficial for sellers while a higher MSI is better for buyers. The May 2010 MSI of 9.6 months was at its lowest level compared with May of 2009 and 2008.
The Selling Price vs Original Listing Price reveals 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 May 2010 Selling Price vs Original List Price of 84.4% was down from 89.0% last month and up from 80.8% in May of last year.
The average Days On Market (DOM) indicates 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 131, up 22.4% from 107 days last month and down -45.0% from 238 days in May of last year. The May 2010 DOM was at its lowest level compared with May of 2009 and 2008.


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