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Lake Forest IL Real Estate Market Action Report May 2013

By
Real Estate Agent with Coldwell Banker Residential Brokerage

 

By Art Wilson, Realtor

 

 

 

Lake Forest's April Property sales were 45, up 150.0% from 18 in April of 2012 and 55.2% higher than the 29 sales last month. April 2013 sales were at their highest level compared to April of 2012 and 2011. April YTD sales of 110 are running 74.6% ahead of last year's year-to-date sales of 63.

 

The Median Sales Price in April was $613,000, down -26.1% from $830,000 in April of 2012 and down -9.9% from $680,000 last month. The Average Sales Price in April was $720,955, down -26.8% from $985,478 in April of 2012 and down -23.2% from $939,103 last month. April 2013 ASP was at the lowest level compared to April of 2012 and 2011.

 

The Total Inventory of Properties available for sale as of April was 229, up 11.7% from 205 last month and down -27.1% from 314 in April of last year. April 2013 Inventory was at the lowest level compared to April of 2012 and 2011.

 

The April 2013 Months Supply of Inventory of 5.1 months was at its lowest level compared with April 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 April was 108, down -6.1% from 115 days last month and down -10.7% from 121 days in April of last year. The April 2013 DOM was at its lowest level compared with April 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 April 2013 Selling Price vs List Price of 93.1% was up from 92.0% last month and up from 92.6% in April of last year.

 

The number of New Listings in April 2013 was 85, up 97.7% from 43 last month and up 16.4% from 73 in April 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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