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Lincolnshire IL Real Estate Market Action Report September 2015

By
Real Estate Agent with Coldwell Banker Residential Brokerage

By Art Wilson, Realtor

Lincolnshire's August Property sales were 11, down -31.3% from 16 in August of 2014 and -45.0% lower than the 20 sales last month. August 2015 sales were at their lowest level compared to August of 2014 and 2013. August YTD sales of 104 are running 25.3% ahead of last year's year-to-date sales of 83.

The Median Sales Price in August was $638,920, up 36.7% from $467,500 in August of 2014 and up 55.5% from $411,000 last month. The Average Sales Price in August was $703,311, up 43.6% from $489,719 in August of 2014 and up 43.1% from $491,570 last month. August 2015 ASP was at highest level compared to August of 2014 and 2013.

The Total Inventory of Properties available for sale as of August was 66, down -5.7% from 70 last month and up 3.1% from 64 in August of last year. August 2015 Inventory was at highest level compared to August of 2014 and 2013.

The August 2015 Months Supply of Inventory of 6.0 months was at its highest level compared with August 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 August was 37, down -2.6% from 38 days last month and down -36.2% from 58 days in August of last year. The August 2015 DOM was at its lowest level compared with August 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 August 2015 Selling Price vs List Price of 96.4% was down from 96.5% last month and up from 95.9% in August of last year.

The number of New Listings in August 2015 was 23, down -4.2% from 24 last month and up 4.5% from 22 in August 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

Comments(1)

Captain Wayne - Rowlett Real Estate School
Rowlett Real Estate School - Panama City, FL
Rowlett Real Estate School / Owner and Instructor

Great job on your market report.  Keep up the good work!

Sep 19, 2015 11:21 AM