By Art Wilson, Realtor
Lincolnshire's April Property sales were 9, down -10.0% from 10 in April of 2013 and equal to 0.0% 9 sales last month. April 2014 sales were at their lowest level compared to April of 2013 and 2012. April YTD sales of 29 are running -3.3% behind last year's year-to-date sales of 30.
The Median Sales Price in April was $393,000, down -1.5% from $399,000 in April of 2013 and up 0.8% from $390,000 last month. The Average Sales Price in April was $419,444, down -6.0% from $446,050 in April of 2013 and up 5.7% from $396,750 last month. April 2014 ASP was at the lowest level compared to April of 2013 and 2012.
The Total Inventory of Properties available for sale as of April was 42, down -12.5% from 48 last month and down -8.7% from 46 in April of last year. April 2014 Inventory was at the lowest level compared to April of 2013 and 2012.The April 2014 Months Supply of Inventory of 4.7 months was at a mid range compared with April of 2013 and 2012. 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 39, down -42.6% from 68 days last month and down -64.5% from 110 days in April of last year. The April 2014 DOM was at its lowest level compared with April of 2013 and 2012.
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 2014 Selling Price vs List Price of 102.6% was up from 97.4% last month and up from 93.6% in April of last year.
The number of New Listings in April 2014 was 17, down -5.6% from 18 last month and down -15.0% from 20 in April of last year.
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