By Art Wilson, Realtor
Lake Bluff's April Property sales were 6, down -70.0% from 20 in April of 2013 and -45.5% lower than the 11 sales last month. April 2014 sales were at their lowest level compared to April of 2013 and 2012. April YTD sales of 35 are running -30.0% behind last year's year-to-date sales of 50.
The Median Sales Price in April was $341,500, down -30.4% from $490,500 in April of 2013 and down -11.3% from $385,000 last month. The Average Sales Price in April was $327,833, down -35.0% from $504,135 in April of 2013 and down -29.0% from $461,841 last month. April 2014 ASP was at the lowest level compared to April of 2013 and 2012.
The Total Inventory of Properties available for sale as of April was 78, up 6.8% from 73 last month and up 8.3% from 72 in April of last year. April 2014 Inventory was at a mid range compared to April of 2013 and 2012.
The April 2014 Months Supply of Inventory of 13.0 months was at a mid range compared with April of 2013 and 2012. 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 April was 58, down -46.8% from 109 days last month and down -38.9% from 95 days in April of last year. The April 2014 DOM was at its lowest level compared with April of 2013 and 2012.
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 April 2014 Selling Price vs List Price of 98.7% was up from 95.8% last month and up from 96.2% in April of last year.
The number of New Listings in April 2014 was 35, up 16.7% from 30 last month and equal to 35 in April of last year.