Winnetka Il Real Estate Market Action Report October 2011

Winnetka’s September Property sales were 26, up 85.7% from 14 in September of 2010 and -7.1% lower than the 28 sales last month. September 2011 sales were at their highest level compared to September of 2010 and 2009. September YTD sales of 180 are running 10.4% ahead of last year's year-to-date sales of 163.


The Median Sales Price in September was $1,088,375, down -0.1% from $1,090,000 in September of 2010 and down -0.2% from $1,091,000 last month. The Average Sales Price in September was $1,085,842, down -10.5% from $1,212,643 in September of 2010 and down -15.8% from $1,289,875 last month. September 2011 ASP was at a mid range compared to September of 2010 and 2009.


The Total Inventory of Properties available for sale as of September was 173, down -2.3% from 177 last month and down -28.5% from 242 in September of last year. September 2011 Inventory was at the lowest level compared to September of 2010 and 2009.


The September 2011 Months Supply of Inventory of 6.7 months was at its lowest level compared with September 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 September was 76, down -14.6% from 89 days last month and down -2.6% from 78 days in September of last year. The September 2011 DOM
was at its lowest level compared with September 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 September 2011 Selling Price vs Original List Price of 90.8% was up from 89.3% last month and up from 87.4% in September of last year.


The number of New Listings in September 2011 was 27, down -3.6% from 28 last month and down -44.9% from 49 in September of last year.

 

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