By Art Wilson, Realtor
Lincolnshire's March Property sales were 14, up 55.6% from 9 in March of 2014 and 40.0% higher than the 10 sales last month. March 2015 sales were at their highest level compared to March of 2014 and 2013. March YTD sales of 31 are running 55.0% ahead of last year's year-to-date sales of 20.
The Median Sales Price in March was $410,000, up 5.1% from $390,000 in March of 2014 and down -9.0% from $450,500 last month. The Average Sales Price in March was $520,893, up 31.3% from $396,750 in March of 2014 and down -1.0% from $526,050 last month. March 2015 ASP was at highest level compared to March of 2014 and 2013.
The Total Inventory of Properties available for sale as of March was 52, down -8.8% from 57 last month and up 6.1% from 49 in March of last year. March 2015 Inventory was at highest level compared to March of 2014 and 2013.
The March 2015 Months Supply of Inventory of 3.7 months was at its lowest level compared with March 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 March was 76, down -29.6% from 108 days last month and up 11.8% from 68 days in March of last year. The March 2015 DOM was at a mid range compared with March 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 March 2015 Selling Price vs List Price of 94.6% was down from 96.3% last month and down from 97.4% in March of last year.
The number of New Listings in March 2015 was 22, down -24.1% from 29 last month and up 22.2% from 18 in March of last year.
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