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Lake Forest IL Real Estate Market Action Report September 2017
By Art Wilson, Realtor
Lake Forest‘s August Property sales were 42, up 27.3% from 33 in August of 2016 and -14.3% lower than the 49 sales last month. August 2017 sales were at their highest level compared to August of 2016 and 2015. August YTD sales of 243 are running 11.0% ahead of last year's year-to-date sales of 219.
The Median Sales Price in August was $747,500, down -26.5% from $1,017,000 in August of 2016 and down -4.2% from $780,000 last month. The Average Sales Price in August was $974,928, down -12.8% from $1,117,587 in August of 2016 and up 7.6% from $905,842 last month. August 2017 ASP was at a mid range compared to August of 2016 and 2015.
The Total Inventory of Properties available for sale as of August was 327, down -6.0% from 348 last month and down -15.9% from 389 in August of last year. August 2017 Inventory was at the lowest level compared to August of 2016 and 2015.
The August 2017 Month’s Supply of Inventory of 7.8 months was at its lowest level compared with August of 2016 and 2015. A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers.
The average ... more

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