By Art Wilson, Realtor
Lincolnshire's February Property sales were 10, up 400.0% from 2 in February of 2014 and 66.7% higher than the 6 sales last month. February 2015 sales were at their highest level compared to February of 2014 and 2013. February YTD sales of 16 are running 45.5% ahead of last year's year-to-date sales of 11.
The Median Sales Price in February was $450,500, down -18.1% from $550,000 in February of 2014 and down -18.6% from $553,300 last month. The Average Sales Price in February was $526,050, down -4.4% from $550,000 in February of 2014 and down -2.7% from $540,433 last month. February 2015 ASP was at a mid range compared to February of 2014 and 2013.
The Total Inventory of Properties available for sale as of February was 54, up 12.5% from 48 last month and up 8.0% from 50 in February of last year. February 2015 Inventory was at highest level compared to February of 2014 and 2013.
The February 2015 MSI of 5.4 months was at its lowest level compared with February 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) shows 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 February was 108, up 66.2% from 65 days last month and up 40.3% from 77 days in February of last year. The February 2015 DOM was at its highest level compared with February of 2014 and 2013.
The Selling Price vs Listing Price reveals 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 February 2015 Selling Price vs List Price of 96.3% was up from 94.0% last month and down from 98.6% in February of last year.
The number of New Listings in February 2015 was 29, up 38.1% from 21 last month and up 70.6% from 17 in February of last year.
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