By Art Wilson, Realtor
Lincolnshire's February Property sales were 7, up 75.0% from 4 in February of 2012 and 250.0% higher than the 2 sales last month. February 2013 sales were at their highest level compared to February of 2012 and 2011. February YTD sales of 9 are running equal to last year's year-to-date sales of 9.
The Median Sales Price in February was $439,000, up 41.0% from $311,250 in February of 2012 and up 3.0% from $426,250 last month. The Average Sales Price in February was $500,014, up 56.0% from $320,600 in February of 2012 and up 17.3% from $426,250 last month. February 2013 ASP was at a mid range compared to February of 2012 and 2011.
The Total Inventory of Properties available for sale as of February was 43, down -15.7% from 51 last month and down -50.6% from 87 in February of last year. February 2013 Inventory was at the lowest level compared to February of 2012 and 2011.
The February 2013 Months Supply of Inventory of 6.1 months was at its lowest level compared with February of 2012 and 2011. 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 59, down -22.4% from 76 days last month and down -81.8% from 325 days in February of last year. The February 2013 DOM was at its lowest level compared with February of 2012 and 2011.
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 February 2013 Selling Price vs List Price of 94.7% was down from 98.9% last month and down from 94.9% in February of last year.
The number of New Listings in February 2013 was 14, up 16.7% from 12 last month and down -30.0% from 20 in February of last year.
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