By Art Wilson, Realtor
Lincolnshire's June Property sales were 18, up 28.6% from 14 in June of 2015 and 20.0% higher than the 15 sales last month. June 2016 sales were at their highest level compared to June of 2015 and 2014. June YTD sales of 58 are running -20.5% behind last year's year-to-date sales of 73.
The Median Sales Price in June was $604,000, up 0.9% from $598,500 in June of 2015 and up 17.3% from $515,000 last month. The Average Sales Price in June was $624,694, up 1.2% from $617,282 in June of 2015 and up 11.1% from $562,500 last month. June 2016 ASP was at highest level compared to June of 2015 and 2014.
The Total Inventory of Properties available for sale as of June was 75, down -9.6% from 83 last month and equal to 75 in June of last year. June 2016 Inventory was at a mid range compared to June of 2015 and 2014.
The June 2016 Months Supply of inventory of 4.2 months was at a mid range compared with June 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 June was 24, down -62.5% from 64 days last month and down -22.6% from 31 days in June of last year. The June 2016 DOM was at its lowest level compared with June 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 June 2016 Selling Price vs List Price of 95.4% was up from 95.1% last month and down from 96.9% in June of last year.
The number of New Listings in June 2016 was 25, down -32.4% from 37 last month and down -3.8% from 26 in June of last year.
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