Lake Bluff IL Real Estate Market Action Report July 2015

By
Real Estate Agent with Coldwell Banker Residential Brokerage

 

 

By Art Wilson, Realtor

 

Lake Bluff's June Property sales were 29, up 52.6% from 19 in June of 2014 and 107.1% higher than the 14 sales last month. June 2015 sales were at their highest level compared to June of 2014 and 2013. June YTD sales of 100 are running 35.1% ahead of last year's year-to-date sales of 74.

The Median Sales Price in June was $477,500, up 40.4% from $340,000 in June of 2014 and up 34.5% from $354,975 last month. The Average Sales Price in June was $518,633, up 17.5% from $441,363 in June of 2014 and up 56.8% from $330,729 last month. June 2015 ASP was at a mid range compared to June of 2014 and 2013.

The Total Inventory of Properties available for sale as of June was 104, up 9.5% from 95 last month and up 10.6% from 94 in June of last year. June 2015 Inventory was at highest level compared to June of 2014 and 2013.

The June 2015 Months Supply of Inventory of 3.6 months was at its lowest level compared with June 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 June was 45, up 50.0% from 30 days last month and up 12.5% from 40 days in June of last year. The June 2015 DOM was at a mid range compared with June 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 June 2015 Selling Price vs List Price of 96.0% was down from 96.2% last month and up from 95.0% in June of last year.

The number of New Listings in June 2015 was 38, up 22.6% from 31 last month and up 5.6% from 36 in June 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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