Lincolnshire IL Real Estate Market Action Report October 2012

By
Real Estate Agent with Coldwell Banker Residential Brokerage

Lincolnshire's September Property sales were 10, up 100.0% from 5 in September of 2011 and -37.5% lower than the 16 sales last month. September 2012 sales were at their highest level compared to September of 2011 and 2010. September YTD sales of 98 are running 22.5% ahead of last year's year-to-date sales of 80.

The Median Sales Price in September was $276,000, down -16.4% from $330,000 in September of 2011 and down -36.3% from $433,500 last month. The Average Sales Price in September was $361,350, down -9.5% from $399,500 in September of 2011 and down -25.6% from $485,813 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 87, equal to 87 last month and down -20.2% from 109 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 8.7 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 151, up 36.0% from 111 days last month and up 143.5% from 62 days in September of last year. The September 2012 DOM was at its highest level 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 indicates more of a Seller's market. The September 2012 Selling Price vs List Price of 94.5% was up from 92.9% last month and up from 91.4% in September of last year.

The number of New Listings in September 2012 was 22, up 29.4% from 17 last month and up 83.3% from 12 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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