By Art Wilson, Realtor
Lake Bluff's March Property sales were 7, down -41.7% from 12 in March of 2012 and -41.7% lower than the 12 sales last month. March 2013 sales were at a mid level compared to March of 2012 and 2011. March YTD sales of 29 are running 81.3% ahead of last year's year-to-date sales of 16.
The Median Sales Price in March was $300,000, up 22.4% from $245,000 in March of 2012 and down -13.6% from $347,388 last month. The Average Sales Price in March was $366,500, up 29.7% from $282,500 in March of 2012 and down -13.7% from $424,606 last month. March 2013 ASP was at a mid range compared to March of 2012 and 2011.
The Total Inventory of Properties available for sale as of March was 51, down -8.9% from 56 last month and down -54.9% from 113 in March of last year. March 2013 Inventory was at the lowest level compared to March of 2012 and 2011.
The March 2013 Months supply of Inventory of 7.3 months was at its lowest level compared with March 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 March was 97, up 9.0% from 89 days last month and down -15.7% from 115 days in March of last year. The March 2013 DOM was at its lowest level compared with March 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 March 2013 Selling Price vs List Price of 97.1% was up from 96.8% last month and down from 97.3% in March of last year.
The number of New Listings in March 2013 was 20, equal to 20 last month and up 5.3% from 19 in March of last year.
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