By Art Wilson, Realtor
Lincolnshire's April Property sales were 4, down -66.7% from 12 in April of 2015 and -63.6% lower than the 11 sales last month. April 2016 sales were at their lowest level compared to April of 2015 and 2014. April YTD sales of 23 are running -47.7% behind last year's year-to-date sales of 44.
The Median Sales Price in April was $581,500, up 19.2% from $488,000 in April of 2015 and up 49.1% from $390,000 last month. The Average Sales Price in April was $564,000, up 7.8% from $523,125 in April of 2015 and up 31.6% from $428,455 last month. April 2016 ASP was at highest level compared to April of 2015 and 2014.
The Total Inventory of Properties available for sale as of April was 74, down -1.3% from 75 last month and up 21.3% from 61 in April of last year. April 2016 Inventory was at highest level compared to April of 2015 and 2014.
The April 2016 Months Supply Of Inventory of 18.5 months was at its highest level compared with April of 2015 and 2014. 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 35, down -67.0% from 106 days last month and down -12.5% from 40 days in April of last year. The April 2016 DOM was at its lowest level compared with April of 2015 and 2014.
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 2016 Selling Price vs List Price of 96.0% was up from 95.3% last month and down from 96.1% in April of last year.
The number of New Listings in April 2016 was 29, up 16.0% from 25 last month and up 20.8% from 24 in April of last year.
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