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Lake Forest IL Real Estate Market Action Report December 2016
By Art Wilson, Realtor
Lake Forest's November Property sales were 28, up 64.7% from 17 in November of 2015 and 12.0% higher than the 25 sales last month. November 2016 sales were at their highest level compared to November of 2015 and 2014. November YTD sales of 301 are running 2.4% ahead of last year's year-to-date sales of 294.
The Median Sales Price in November was $682,500, down -30.4% from $980,000 in November of 2015 and down -1.8% from $695,000 last month. The Average Sales Price in November was $849,802, down -19.5% from $1,055,548 in November of 2015 and down -9.4% from $937,828 last month. November 2016 ASP was at the lowest level compared to November of 2015 and 2014.
The Total Inventory of Properties available for sale as of November was 312, down -11.9% from 354 last month and down -3.4% from 323 in November of last year. November 2016 Inventory was at a mid range compared to November of 2015 and 2014.
The November 2016 Month’s Supply of Inventory of 11.1 months was at a mid range compared with November of 2015 and 2014. A comparatively lower MSI is more beneficial for sellers while a higher MSI is better ... more
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