By Art Wilson, Realtor
Lake Forest's April Property sales were 25, down -3.8% from 26 in April of 2014 and 13.6% higher than the 22 sales last month. April 2015 sales were at their lowest level compared to April of 2014 and 2013. April YTD sales of 82 are running -5.7% behind last year's year-to-date sales of 87.
The Median Sales Price in April was $625,000, down -14.2% from $728,500 in April of 2014 and up 25.4% from $498,500 last month. The Average Sales Price in April was $738,888, down -4.1% from $770,692 in April of 2014 and down -15.9% from $879,095 last month. April 2015 ASP was at a mid range compared to April of 2014 and 2013.
The Total Inventory of Properties available for sale as of April was 289, up 12.0% from 258 last month and up 32.0% from 219 in April of last year. April 2015 Inventory was at highest level compared to April of 2014 and 2013.
The April 2015 Months Supply of Inventory of 11.6 months was at its highest level compared with April 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 April was 85, down -7.6% from 92 days last month and down -19.0% from 105 days in April of last year. The April 2015 DOM was at its lowest level compared with April 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 April 2015 Selling Price vs List Price of 94.3% was up from 94.2% last month and up from 93.8% in April of last year.
The number of New Listings in April 2015 was 92, up 8.2% from 85 last month and up 17.9% from 78 in April of last year.
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