By Art Wilson, Realtor
Lincolnshire's May Property sales were 8, down -60.0% from 20 in May of 2013 and -11.1% lower than the 9 sales last month. May 2014 sales were at a mid level compared to May of 2013 and 2012. May YTD sales of 37 are running -26.0% behind last year's year-to-date sales of 50.
The Median Sales Price in May was $465,000, up 24.2% from $374,500 in May of 2013 and up 18.3% from $393,000 last month. The Average Sales Price in May was $490,563, up 13.6% from $431,654 in May of 2013 and up 17.0% from $419,444 last month. May 2014 ASP was at highest level compared to May of 2013 and 2012.
The Total Inventory of Properties available for sale as of May was 53, up 23.3% from 43 last month and up 15.2% from 46 in May of last year. May 2014 Inventory was at a mid range compared to May of 2013 and 2012.
The May 2014 Months Supply of Inventory of 6.6 months was at a mid range compared with May 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 May was 47, up 20.5% from 39 days last month and down -66.4% from 140 days in May of last year. The May 2014 DOM was at its lowest level compared with May 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 May 2014 Selling Price vs List Price of 95.7% was down from 102.6% last month and up from 93.1% in May of last year.
The number of New Listings in May 2014 was 28, up 64.7% from 17 last month and up 12.0% from 25 in May of last year.
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