By Art Wilson, Realtor
Lake Bluff’s June Property sales were 24, up 14.3% from 21 in June of 2016 and -20.0% lower than the 30 sales last month. June 2017 sales were at a mid level compared to June of 2016 and 2015. June YTD sales of 88 are running 2.3% ahead of last year's year-to-date sales of 86.
The Median Sales Price in June was $676,500, up 28.9% from $525,000 in June of 2016 and up 46.9% from $460,500 last month. The Average Sales Price in June was $626,813, up 14.3% from $548,571 in June of 2016 and up 24.5% from $503,270 last month. June 2017 ASP was at highest level compared to June of 2016 and 2015.
The Total Inventory of Properties available for sale as of June was 81, up 5.2% from 77 last month and down -22.1% from 104 in June of last year. June 2017 Inventory was at the lowest level compared to June of 2016 and 2015.
The June 2017 Months Supply of Inventory of 3.4 months was at its lowest level compared with June 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 June was 63, down -14.9% from 74 days last month and down -12.5% from 72 days in June of last year. The June 2017 DOM was at a mid range compared with June 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 June 2017 Selling Price vs List Price of 94.7% was up from 91.7% last month and up from 92.7% in June of last year.
The number of New Listings in June 2017 was 38, up 31.0% from 29 last month and down -2.6% from 39 in June of last year.