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Lake Forest IL Real Estate Market Action Report March 2017
By Art Wilson, Realtor
Lake Forest's February Property sales were 12, down -29.4% from 17 in February of 2016 and 20.0% higher than the 10 sales last month. February 2017 sales were at their lowest level compared to February of 2016 and 2015. February YTD sales of 22 are running -35.3% behind last year's year-to-date sales of 34.
The Median Sales Price in February was $1,042,500, up 98.6% from $525,000 in February of 2016 and up 56.5% from $666,250 last month. The Average Sales Price in February was $1,048,833, up 55.0% from $676,765 in February of 2016 and up 16.2% from $902,371 last month. February 2017 ASP was at highest level compared to February of 2016 and 2015.
The Total Inventory of Properties available for sale as of February was 309, up 4.0% from 297 last month and down -4.3% from 323 in February of last year. February 2017 Inventory was at a mid range compared to February of 2016 and 2015.
The February 2017 Month’s Supply of Inventory of 25.8 months was at its highest level compared with February of 2016 and 2015. A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers.
The average ... more

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