Glenview IL Real Estate Market Action Report February 2012

Glenview's January Property sales were 36, up 16.1% from 31 in January of 2011 and -26.5% lower than the 49 sales last month. January 2012 sales were at their highest level compared to January of 2011 and 2010. January YTD sales of 36 are running 16.1% ahead of last year's year-to-date sales of 31.

The Median Sales Price in January was $315,000, down -13.6% from $364,505 in January of 2011 and up 16.7% from $270,000 last month. The Average Sales Price in January was $356,011, down -18.5% from $437,057 in January of 2011 and down -15.8% from $422,661 last month. January 2012 ASP was at the lowest level compared to January of 2011 and 2010.

The Total Inventory of Properties available for sale as of January was 381, down -4.8% from 400 last month and down -21.1% from 483 in January of last year. January 2012 Inventory was at the lowest level compared to January of 2011 and 2010.

The January 2012 Months Supply of Invwentory of 10.6 months was at its lowest level compared with January of 2011 and 2010. 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 January was 104, up 13.0% from 92 days last month and down -22.4% from 134 days in January of last year. The January 2012 DOM was at its lowest level compared with January of 2011 and 2010.

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 January 2012 Selling Price vs Original List Price of 85.1% was up from 84.2% last month and up from 85.0% in January of last year.

The number of New Listings in January 2012 was 92, up 91.7% from 48 last month and up 3.4% from 89 in January of last year.