By Art Wilson, Realtor
Lake Bluff's October Property sales were 10, down -37.5% from 16 in
October of 2012 and -9.1% lower than the 11 sales last month. October
2013 sales wereat a mid level compared to October of 2012 and 2011.
October YTD sales of153 are running 27.5% ahead of last year's
year-to-date sales of 120.
The Median Sales Price in October was $375,000, down -18.3% from
$458,750 in October of 2012 and down -59.2% from $920,000 last month.
The Average Sales Price in October was $395,250, down -22.6% from
$510,869 in October of 2012 and down -53.2% from $844,182 last month.
October 2013 ASP was at a mid range compared to October of 2012 and
2011.
The Total Inventory of Properties available for sale as of October was 73,
down -3.9% from 76 last month and down -11.0% from 82 in October of last
year. October 2013 Inventory was at the lowest level compared to October
of 2012 and 2011.
The October 2013 Months Supply of Inventory of 7.3 months was at a mid
range compared with October 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 October was 27,
down -27.0% from 37 days last month and down -62.0% from 71 days in
October of last year. The October 2013 DOM was at its lowest level
compared with October 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 October 2013 Selling Price vs
List Price of 93.7% was down from 95.0% last month and down from
94.1% in October of last year.
The number of New Listings in October 2013 was 26, up 8.3% from 24
last month and up 100.0% from 13 in October of last year.
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