Lincolnshire IL Real Estate Market Action Report March 2017

By
Real Estate Agent with Coldwell Banker Residential Brokerage

By Art Wilson, Realtor

Lincolnshire's February Property sales were 5, equal to 5 in February of 2016 and -37.5% lower than the 8 sales last month. February 2017 sales were at their lowest level compared to February of 2016 and 2015. February YTD sales of 13 are running 62.5% ahead of last year's year-to-date sales of 8.

The Median Sales Price in February was $350,000, down -3.7% from $363,500 in February of 2016 and down -7.2% from $377,000 last month. The Average Sales Price in February was $441,750, up 23.4% from $358,000 in February of 2016 and up 7.1% from $412,344 last month. February 2017 ASP was at a mid range compared to February of 2016 and 2015.

The Total Inventory of Properties available for sale as of February was 62, down -6.1% from 66 last month and down -8.8% from 68 in February of last year. February 2017 Inventory was at a mid range compared to February of 2016 and 2015.

The February 2017 Months Supply of Inventory of 12.4 months was at a mid range compared with February of 2016 and 2015. 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 February was 115, up 62.0% from 71 days last month and up 22.3% from 94 days in February of last year. The February 2017 DOM was at its highest level compared with February of 2016 and 2015.

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 February 2017 Selling Price vs List Price of 92.0% was down from 92.8% last month and up from 84.5% in February of last year.

The number of New Listings in February 2017 was 30, up 15.4% from 26 last month and up 11.1% from 27 in February 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

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