Lake Forest IL Real Estate Market Action Report July 20017

By
Real Estate Agent with Coldwell Banker Residential Brokerage

By Art Wilson, Realtor

Lake Forest’s June Property sales were 45, down -6.3% from 48 in June of 2016 and 7.1% higher than the 42 sales last month. June 2017 sales were at their lowest level compared to June of 2016 and 2015. June YTD sales of 151 are running -3.8% behind last year's year-to-date sales of 157.

The Median Sales Price in June was $787,500, up 2.9% from $765,000 in June of 2016 and down -1.5% from $799,750 last month. The Average Sales Price in June was $940,139, up 8.8% from $864,133 in June of 2016 and up 2.1% from $920,963 last month. June 2017 ASP was at a mid range compared to June of 2016 and 2015.

The Total Inventory of Properties available for sale as of June was 358, down -0.3% from 359 last month and down -8.2% from 390 in June of last year. June 2017 Inventory was at a mid range compared to June of 2016 and 2015. A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers.

The June 2017 Months Supply of Inventory of 8.0 months was at a mid range 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 132, up 22.2% from 108 days last month and up 61.0% from 82 days in June of last year. The June 2017 DOM was at its highest level 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 90.0% was up from 89.8% last month and down from 91.4% in June of last year.

The number of New Listings in June 2017 was 85, down -2.3% from 87 last month and up 16.4% from 73 in June 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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Illinois Lake County Lake Forest
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Chicagoland and Northern Illinois Real Estate
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Tags:
lake forest home sales
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lake forest il real estate market conditions

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Rainmaker
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Corinne Guest, Managing Broker
Barrington Realty Company - Barrington, IL
The Choice of Professionals

Very similar to Barrington then! Great report, I enjoyed reading a neighbors comparisons.

Jul 13, 2017 10:53 AM #1
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Art Wilson

Realtor - Chicago's North Shore
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