By Art Wilson, Realtor
Lake Forest's January Property sales were 23, equal to 23 in January of 2014 and 27.8% higher than the 18 sales last month. January 2015 sales were at a mid level compared to January of 2014 and 2013. January YTD sales of 23 are running equal to last year's year-to-date sales of 23.
The Median Sales Price in January was $547,500, down -50.2% from $1,099,000 in January of 2014 and down -21.7% from $699,000 last month. The Average Sales Price in January was $652,079, down -51.0% from $1,329,752 in January of 2014 and down -13.9% from $757,431 last month. January 2015 ASP was at the lowest level compared to January of 2014 and 2013.
The Total Inventory of Properties available for sale as of January was 193, up 0.5% from 192 last month and up 6.6% from 181 in January of last year. January 2015 Inventory was at a mid range compared to January of 2014 and 2013.
The January 2015 Months Supply of Inventory of 8.4 months was at a mid range compared with January of 2014 and 2013. 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 January was 89, down -35.0% from 137 days last month and down -28.2% from 124 days in January of last year. The January 2015 DOM was at its lowest level compared with January of 2014 and 2013.
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 January 2015 Selling Price vs List Price of 94.1% was up from 93.6% last month and up from 92.7% in January of last year.
The number of New Listings in January 2015 was 57, up 256.3% from 16 last month and up 7.5% from 53 in January of last year.
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