Lake Forest's February Property sales were 10, down -16.7% from 12 in February of 2011 and equal to 0.0% 10 sales last month. February 2012 sales were at their lowest level compared to February of 2011 and 2010. February YTD sales of 20 are running -9.1% behind last year's year-to-date sales of 22.
The Median Sales Price in February was $879,500, up 48.1% from $593,950 in February of 2011 and up 65.8% from $530,500 last month. The Average Sales Price in February was $1,013,150, down -4.4% from $1,059,261 in February of 2011 and up 27.7% from $793,100 last month. February 2012 ASP was at a mid range compared to February of 2011 and 2010.
The Total Inventory of Properties available for sale as of February was 279, up 4.9% from 266 last month and down -18.4% from 342 in February of last year. February 2012 Inventory was at the lowest level compared to February of 2011 and 2010.
The February 2012 Months Supply of Inventory of 27.9 months was at a mid range compared with February 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 February was 264, up 175.0% from 96 days last month and up 106.3% from 128 days in February of last year. The February 2012 DOM was at its highest level compared with February 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 February 2012 Selling Price vs Original List Price of 88.6% was up from 88.2% last month and up from 83.2% in February of last year.
The number of New Listings in February 2012 was 54, up 54.3% from 35 last month and down -8.5% from 59 in February of last year.
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