By Art Wilson, Realtor
Lincolnshire's December Property sales were 6, down -25.0% from 8 in December of 2015 and -45.5% lower than the 11 sales last month. December 2016 sales were at their lowest level compared to December of 2015 and 2014. December YTD sales of 125 are running -9.4% behind last year's year-to-date sales of 138.
The Median Sales Price in December was $366,250, down -24.1% from $482,500 in December of 2015 and down -36.3% from $575,000 last month. The Average Sales Price in December was $334,750, down -36.2% from $524,375 in December of 2015 and down -39.2% from $550,673 last month. December 2016 ASP was at the lowest level compared to December of 2015 and 2014.
The Total Inventory of Properties available for sale as of December was 53, down -20.9% from 67 last month and equal to 53 in December of last year. December 2016 Inventory was at a mid range compared to December of 2015 and 2014.
The December 2016 Month’s Supply of Inventory of 8.8 months was at its highest level compared with December 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 December was 78, up 36.8% from 57 days last month and down -8.2% from 85 days in December of last year. The December 2016 DOM was at its lowest level compared with December 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 December 2016 Selling Price vs List Price of 95.1% was up from 94.7% last month and up from 93.8% in December of last year.
The number of New Listings in December 2016 was 7, down -53.3% from 15 last month and up 16.7% from 6 in December of last year.