By Art Wilson, Realtor
Lake Forest's April Property sales were 21, down -16.0% from 25 in April of 2015 and 5.0% higher than the 20 sales last month. April 2016 sales were at their lowest level compared to April of 2015 and 2014. April YTD sales of 74 are running -9.8% behind last year's year-to-date sales of 82.
The Median Sales Price in April was $630,000, up 0.8% from $625,000 in April of 2015 and up 3.7% from $607,500 last month. The Average Sales Price in April was $792,401, up 7.2% from $738,888 in April of 2015 and down -1.6% from $805,531 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 339, up 0.3% from 338 last month and up 12.6% from 301 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 16.1 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 92, down -22.0% from 118 days last month and up 8.2% from 85 days in April of last year. The April 2016 DOM was at a mid range 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 94.1% was up from 93.8% last month and down from 94.3% in April of last year.
The number of New Listings in April 2016 was 72, up 1.4% from 71 last month and down -22.6% from 93 in April of last year.
Comments(0)