|DECEMBER 2016 PROPERTY SALES FOR DuPAGE COUNTY|
December Property sales were 951, down -3.6% from 987 in December of 2015 and -5.1% lower than the 1,002 sales last month. December 2016 sales were at a mid level compared to December of 2015 and 2014. December YTD sales of 14,358 are running 5.9% ahead of last year's year-to-date sales of 13,553.
The Median Sales Price in December was $251,099, up 4.6% from $240,000 in December of 2015 and up 0.7% from $249,450 last month. The Average Sales Price in December was $321,523, up 9.6% from $293,289 in December of 2015 and up 7.8% from $298,234 last month. December 2016 ASP was at highest level compared to December of 2015 and 2014.
Inventory & MSI
The Total Inventory of Properties available for sale as of December was 3,087, down -19.5% from 3,834 last month and down -25.5% from 4,146 in December of last year. December 2016 Inventory was at the lowest level compared to December of 2015 and 2014.
A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The December 2016 MSI of 3.2 months was at its lowest level compared with December of 2015 and 2014.
The average Days On Market(DOM) shows 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 December was 54, up 1.9% from 53 days last month and down -14.3% from 63 days in December of last year. The December 2016 DOM was at its lowest level compared with December of 2015 and 2014.
Data: MRED LLC