Lake Forest IL Real Estate Market Action Report October 2012

By
Real Estate Agent with Coldwell Banker Residential Brokerage

Lake Forest's September Property sales were 21, up 23.5% from 17 in September of 2011 and -32.3% lower than the 31 sales last month. September 2012 sales were at their highest level compared to September of 2011 and 2010. September YTD sales of 215 are running 10.3% ahead of last year's year-to-date sales of 195.

The Median Sales Price in September was $691,000, up 18.1% from $585,000 in September of 2011 and down -1.3% from $700,000 last month. The Average Sales Price in September was $747,619, down -28.1% from $1,040,092 in September of 2011 and down -14.1% from $870,644 last month. September 2012 ASP was at the lowest level compared to September of 2011 and 2010.

The Total Inventory of Properties available for sale as of September was 268, down -1.8% from 273 last month and down -24.7% from 356 in September of last year. September 2012 Inventory was at the lowest level compared to September of 2011 and 2010. The September 2012 Months Supply of Inventory of 12.8 months was at its lowest level compared with September 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 September was 106, up 53.6% from 69 days last month and down -41.4% from 181 days in September of last year. The September 2012 DOM was at a mid range compared with September of 2011 and 2010.

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 September 2012 Selling Price vs List Price of 92.0% was down from 93.5% last month and up from 88.0% in September of last year.

The number of New Listings in September 2012 was 43, up 16.2% from 37 last month and down -23.2% from 56 in September 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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