By Art Wilson, Realtor
Lake Bluff's November Property sales were 13, down -7.1% from 14 in November of 2012 and 30.0% higher than the 10 sales last month. November 2013 sales were at a mid level compared to November of 2012 and 2011. November YTD sales of 166 are running 23.9% ahead of last year's year-to-date sales of 134.
The Median Sales Price in November was $227,500, down -52.1% from $474,500 in November of 2012 and down -39.3% from $375,000 last month. The Average Sales Price in November was $671,523, up 39.6% from $481,161 in November of 2012 and up 69.9% from $395,250 last month. November 2013 ASP was at highest level compared to November of 2012 and 2011.
The Total Inventory of Properties available for sale as of November was 62, down -17.3% from 75 last month and down -10.1% from 69 in November of last year. November 2013 Inventory was at the lowest level compared to November of 2012 and 2011.
The November 2013 Months Supply of Inventory of 4.8 months was at its lowest level compared with November 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 November was 48, up 77.8% from 27 days last month and down -51.5% from 99 days in November of last year. The November 2013 DOM was at its lowest level compared with November 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 November 2013 Selling Price vs List Price of 95.0% was up from 93.7% last month and up from 94.5% in November of last year.
The number of New Listings in November 2013 was 14, down -46.2% from 26 last month and up 27.3% from 11 in November of last year.
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