Lake Bluff IL Real Estate Market Action Report September 2014

By
Real Estate Agent with Coldwell Banker Residential Brokerage

By Art Wilson, Realtor

 

Lake Bluff's August Property sales were 22, up 4.8% from 21 in August of 2013 and 4.8% higher than the 21 sales last month. August 2014 sales were at their highest level compared to August of 2013 and 2012. August YTD sales of 117 are running -11.4% behind last year's year-to-date sales of 132.

The Median Sales Price in August was $562,000, up 91.2% from $294,000 in August of 2013 and up 10.6% from $508,180 last month. The Average Sales Price in August was $560,614, up 48.5% from $377,524 in August of 2013 and up 0.8% from $555,979 last month. August 2014 ASP was at highest level compared to August of 2013 and 2012.

The Total Inventory of Properties available for sale as of August was 95, up 3.3% from 92 last month and up 13.1% from 84 in August of last year. August 2014 Inventory was at a mid range compared to August of 2013 and 2012.

The August 2014 Months Supply of Inventory of 4.3 months was at a mid range compared with August 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 August was 78, down -6.0% from 83 days last month and up 44.4% from 54 days in August of last year. The August 2014 DOM was at a mid range compared with August 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 August 2014 Selling Price vs List Price of 94.4% was down from 94.7% last month and down from 95.1% in August of last year.

The number of New Listings in August 2014 was 24, down -4.0% from 25 last month and down -20.0% from 30 in August 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

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Real Estate Market Trends
Location:
Illinois Lake County Lake Bluff
Groups:
Posts to Localism
Chicagoland and Northern Illinois Real Estate
Illinois Real Estate
City and State
Local Expert

Spam prevention
Show All Comments
Rainmaker
739,862
Pete Xavier
Investments to Luxury - Pacific Palisades, CA
Outstanding Agent Referrals-Nationwide

That is an incredible jump in the overall medium sales price.

Looks like the more expensive homes are selling in Lake Bluff.

Sep 15, 2014 01:42 PM #1
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
399,997

Art Wilson

Realtor - Chicago's North Shore
Contact me now for available homes
*
*
*
*
Spam prevention

Additional Information