By Art Wilson, Realtor
Lincolnshire’s June Property sales were 21, up 16.7% from 18 in June of 2016 and 23.5% higher than the 17 sales last month. June 2017 sales were at their highest level compared to June of 2016 and 2015. June YTD sales of 87 are running 47.5% ahead of last year's year-to-date sales of 59.
The Median Sales Price in June was $480,000, down -20.5% from $604,000 in June of 2016 and down -6.0% from $510,500 last month. The Average Sales Price in June was $518,272, down -16.3% from $619,000 in June of 2016 and up 3.0% from $503,048 last month. June 2017 ASP was at the lowest level compared to June of 2016 and 2015.
The Total Inventory of Properties available for sale as of June was 81, up 8.0% from 75 last month and up 2.5% from 79 in June of last year. June 2017 Inventory was at highest level compared to June of 2016 and 2015.
The June 2017 Months Supply of Inventory of 3.9 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 76, up 15.2% from 66 days last month and up 216.7% from 24 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 92.6% was down from 94.8% last month and down from 94.8% in June of last year.
The number of New Listings in June 2017 was 43, up 34.4% from 32 last month and up 79.2% from 24 in June of last year.