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Lake Forest IL Real Estate Market Action Report April 2012

By
Real Estate Agent with Coldwell Banker Residential Brokerage

Lake Forest's March Property sales were 25, up 92.3% from 13 in March of 2011 and 150.0% higher than the 10 sales last month. March 2012 sales were at their highest level compared to March of 2011 and 2010. March YTD sales of 45 are running 28.6% ahead of last year's year-to-date sales of 35.

The Median Sales Price in March was $570,000, down -31.3% from $830,000 in March of 2011 and down -35.2% from $879,500 last month. The Average Sales Price in March was $837,870, down -28.4% from $1,169,593 in March of 2011 and down -17.3% from $1,013,150 last month. March 2012 ASP was at a mid range compared to March of 2011 and 2010.

The Total Inventory of Properties available for sale as of March was 272, down -3.2% from 281 last month and down -21.4% from 346 in March of last year. March 2012 Inventory was at the lowest level compared to March of 2011 and 2010.

The March 2012 Months Supply of Inventory of 10.9 months was at its lowest level compared with March 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 March was 164, down -37.9% from 264 days last month and down -20.4% from 206 days in March of last year. The March 2012 DOM was at its lowest level compared with March 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 March 2012 Selling Price vs Original List Price of 80.4% was down from 88.6% last month and down from 84.5% in March of last year.

The number of New Listings in March 2012 was 55, up 1.9% from 54 last month and up 17.0% from 47 in March of last year.

 

Posted by

Art Wilson, Broker, ABR, CRP, CRS
Coldwell Banker Residential Brokerage        
552 Lincoln Ave.Winnetka, IL 60093              

Cell: 847-363-1599

Serving Chicago's North Shore Suburbs

Art.Wilson@cbexchange.com 
www.NorthShoreHomesOnline.com

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