Lake Forest's December Property sales were 37, up 105.6% from 18 in December of 2011 and 68.2% higher than the 22 sales last month. December 2012 sales were at their highest level compared to December of 2011 and 2010. December YTD sales of 298 are running 17.3% ahead of last year's year-to-date sales of 254.
The Median Sales Price in December was $575,000, down -21.2% from $729,750 in December of 2011 and down -9.7% from $636,500 last month. The Average Sales Price in December was $783,139, down -18.8% from $963,889 in December of 2011 and up 3.9% from $753,539 last month. December 2012 ASP was at the lowest level compared to December of 2011 and 2010.
The Total Inventory of Properties available for sale as of December was 181, down -13.4% from 209 last month and down -35.1% from 279 in December of last year. December 2012 Inventory was at the lowest level compared to December of 2011 and 2010.
The December 2012 Months Supply of Inventory of 4.9 months was at its lowest level compared with December 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 December was 162, up 16.5% from 139 days last month and down -12.4% from 185 days in December of last year. The December 2012 DOM was at its lowest level compared with December of 2011 and 2010.
The Selling Price vs Listing Price is the average amount that Sellers are agreeing to come down from their 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 December 2012 Selling Price vs List Price of 91.5% was up from 90.2% last month and up from 87.1% in December of last year.
The number of New Listings in December 2012 was 25, down -10.7% from 28 last month and up 66.7% from 15 in December of last year.
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