By Art Wilson, Realtor
Lincolnshire's April Property sales were 12, up 20.0% from 10 in April of 2014 and -14.3% lower than the 14 sales last month. April 2015 sales were at their highest level compared to April of 2014 and 2013. April YTD sales of 44 are running 46.7% ahead of last year's year-to-date sales of 30.
The Median Sales Price in April was $488,000, up 21.5% from $401,500 in April of 2014 and up 19.0% from $410,000 last month. The Average Sales Price in April was $523,125, up 21.7% from $430,000 in April of 2014 and up 0.4% from $520,893 last month. April 2015 ASP was at highest level compared to April of 2014 and 2013.
The Total Inventory of Properties available for sale as of April was 56, up 1.8% from 55 last month and up 21.7% from 46 in April of last year. April 2015 Inventory was at highest level compared to April of 2014 and 2013.
The April 2015 MSI of 4.7 months was at its highest level compared with April 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 April was 40, down -47.4% from 76 days last month and down -2.4% from 41 days in April of last year. The April 2015 DOM was at its lowest level compared with April 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 April 2015 Selling Price vs List Price of 96.1% was up from 94.6% last month and down from 101.4% in April of last year.
The number of New Listings in April 2015 was 24, up 9.1% from 22 last month and up 41.2% from 17 in April of last year.
Comments(1)