By Art Wilson, Realtor
Lake Bluff's September Property sales were 18, up 63.6% from 11 in September of 2013 and -18.2% lower than the 22 sales last month. September 2014 sales were at their highest level compared to September of 2013 and 2012. September YTD sales of 135 are running -5.6% behind last year's year-to-date sales of 143.
The Median Sales Price in September was $462,500, down -49.7% from $920,000 in September of 2013 and down -17.7% from $562,000 last month. The Average Sales Price in September was $584,361, down -30.8% from $844,182 in September of 2013 and up 4.2% from $560,614 last month. September 2014 ASP was at a mid range compared to September of 2013 and 2012.
The Total Inventory of Properties available for sale as of September was 91, down -7.1% from 98 last month and up 13.8% from 80 in September of last year. September 2014 Inventory was at a mid range compared to September of 2013 and 2012.
The September 2014 Months Supply of Inventory of 5.1 months was at its lowest level compared with September 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 September was 62, down -20.5% from 78 days last month and up 67.6% from 37 days in September of last year. The September 2014 DOM was at a mid range compared with September 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 September 2014 Selling Price vs List Price of 94.7% was up from 94.4% last month and down from 95.0% in September of last year.
The number of New Listings in September 2014 was 14, down -44.0% from 25 last month and down -44.0% from 25 in September of last year.
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