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Lake Bluff IL Real Estate Market Action Report December 2014

By
Real Estate Agent with Coldwell Banker Residential Brokerage

By Art Wilson, Realtor

 

Lake Bluff's November Property sales were 10, down -23.1% from 13 in November of 2013 and -16.7% lower than the 12 sales last month. November 2014 sales were at their lowest level compared to November of 2013 and 2012. November YTD sales of 157 are running -5.4% behind last year's year-to-date sales of 166.

 The Median Sales Price in November was $411,250, up 80.8% from $227,500 in November of 2013 and up 69.9% from $242,000 last month. The Average Sales Price in November was $495,350, down -26.2% from $671,523 in November of 2013 and up 34.1% from $369,483 last month. November 2014 ASP was at a mid range compared to November of 2013 and 2012.

The Total Inventory of Properties available for sale as of November was 70, down -5.4% from 74 last month and equal to 70 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 7.0 months was at its highest level 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 82, up 121.6% from 37 days last month and up 70.8% from 48 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 ireveals 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 90.8% was down from 92.2% last month and down from 95.0% in November of last year.

The number of New Listings in November 2014 was 18, up 12.5% from 16 last month and up 38.5% from 13 in November of last year.

Posted by

Art Wilson, Broker, ABR, CRP, CRS
Coldwell Banker Residential Brokerage        
552 Lincoln Ave.Winnetka, IL 60093              

Cell: 847-363-1599

Serving Chicago's North Shore Suburbs

Art.Wilson@cbexchange.com 
www.NorthShoreHomesOnline.com

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