Lake Forest's May Property sales were 36, up 12.5% from 32 in May of 2011 and 100.0% higher than the 18 sales last month. May 2012 sales were at their highest level compared to May of 2011 and 2010. May YTD sales of 99 are running 16.5% ahead of last year's year-to-date sales of 85.
The Median Sales Price in May was $643,750, down -11.9% from $730,750 in May of 2011 and down -22.4% from $830,000 last month. The Average Sales Price in May was $819,361, down -30.1% from $1,171,594 in May of 2011 and down -16.9% from $985,478 last month. May 2012 ASP was at a mid range compared to May of 2011 and 2010.
The Total Inventory of Properties available for sale as of May was 296, down -1.0% from 299 last month and down -24.9% from 394 in May of last year. May 2012 Inventory was at the lowest level compared to May of 2011 and 2010.
The May 2012 Months Supply of Inventory of 8.2 months was at its lowest level compared with May of 2011 and 2010. 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 May was 142, up 17.4% from 121 days last month and down -15.0% from 167 days in May of last year. The May 2012 DOM was at a mid range compared with May of 2011 and 2010.
The Selling Price vs Original Listing Price is the average amount that Sellers are agreeing to come down from their original 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 May 2012 Selling Price vs Original List Price of 91.5% was down from 92.6% last month and up from 89.7% in May of last year.
The number of New Listings in May 2012 was 66, down 9.6% from 73 last month and down -22.4% from 85 in May of last year.
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