By Art Wilson, Realtor
Lincolnshire's November Property sales were 11, down -21.4% from 14 in November of 2012 and -8.3% lower than the 12 sales last month. November 2013 sales were at a mid level compared to November of 2012 and 2011. November YTD sales of 141 are running 18.5% ahead of last year's year-to-date sales of 119.
The Median Sales Price in November was $450,000, up 9.5% from $411,000 in November of 2012 and down -1.6% from $457,500 last month. The Average Sales Price in November was $500,409, up 7.0% from $467,821 in November of 2012 and up 7.6% from $464,958 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 45, up 2.3% from 44 last month and down -39.2% from 74 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 4.1 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 42, up 16.7% from 36 days last month and down -44.7% from 76 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 92.3% was down from 97.3% last month and down from 93.3% in November of last year.
The number of New Listings in November 2013 was 16, up 33.3% from 12 last month and up 45.5% from 11 in November of last year.
Comments(0)