By Art Wilson, Realtor
Lake Bluff's February Property sales were 8, up 14.3% from 7 in February of 2014 and equal to 0.0% 8 sales last month. February 2015 sales were at a mid-level compared to February of 2014 and 2013. February YTD sales of 16 are running -11.1% behind last year's year-to-date sales of 18.
The Median Sales Price in February was $355,000, down -61.4% from $920,000 in February of 2014 and down -18.4% from $435,000 last month. The Average Sales Price in February was $384,563, down -61.6% from $1,000,500 in February of 2014 and down -7.6% from $416,250 last month. February 2015 ASP was at the lowest level compared to February of 2014 and 2013.
The Total Inventory of Properties available for sale as of February was 69, down -4.2% from 72 last month and up 11.3% from 62 in February of last year. February 2015 Inventory was at highest level compared to February of 2014 and 2013.
The February 2015 Months Supply of Inventory of 8.6 months was at a mid-range compared with February of 2014 and 2013. 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 February was 117, up 60.3% from 73 days last month and up 134.0% from 50 days in February of last year. The February 2015 DOM was at its highest level compared with February of 2014 and 2013.
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 February 2015 Selling Price vs List Price of 100.7% was up from 91.6% last month and up from 96.1% in February of last year.
The number of New Listings in February 2015 was 28, up 3.7% from 27 last month and up 75.0% from 16 in February of last year.
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