By Art Wilson, Realtor
Lake Forest's November Property sales were 23, down -8.0% from 25 in November of 2013 and -32.4% lower than the 34 sales last month. November 2014 sales were at a mid level compared to November of 2013 and 2012. November YTD sales of 318 are running -15.6% behind last year's year-to-date sales of 377.
The Median Sales Price in November was $980,000, up 39.5% from $702,500 in November of 2013 and up 28.3% from $763,750 last month. The Average Sales Price in November was $1,220,915, up 44.2% from $846,601 in November of 2013 and up 23.7% from $986,637 last month. November 2014 ASP was at highest level compared to November of 2013 and 2012.
The Total Inventory of Properties available for sale as of November was 221, down -7.5% from 239 last month and up 11.1% from 199 in November of last year. November 2014 Inventory was at a mid range compared to November of 2013 and 2012.
The November 2014 Months Supply of Inventory of 9.6 months was at a mid range compared with November 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 November was 117, up 3.5% from 113 days last month and up 53.9% from 76 days in November of last year. The November 2014 DOM was at a mid range compared with November 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 November 2014 Selling Price vs List Price of 92.4% was down from 92.7% last month and down from 94.6% in November of last year.
The number of New Listings in November 2014 was 33, down -10.8% from 37 last month and up 22.2% from 27 in November of last year.
Comments(0)