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Lincolnshire IL Real Estate Market Action Report October 2015

By
Real Estate Agent with Coldwell Banker Residential Brokerage

By Art Wilson, Realtor

Lincolnshire's September Property sales were 10, down -52.4% from 21 in September of 2014 and -9.1% lower than the 11 sales last month. September 2015 sales were at their lowest level compared to September of 2014 and 2013. September YTD sales of 114 are running 9.6% ahead of last year's year-to-date sales of 104.

The Median Sales Price in September was $392,750, down -14.5% from $459,500 in September of 2014 and down -38.5% from $638,920 last month. The Average Sales Price in September was $499,000, down -9.8% from $553,311 in September of 2014 and down -29.0% from $703,311 last month. September 2015 ASP was at the lowest level compared to September of 2014 and 2013.

The Total Inventory of Properties available for sale as of September was 56, down -18.8% from 69 last month and down -17.6% from 68 in September of last year. September 2015 Inventory was at a mid range compared to September of 2014 and 2013.

The September 2015 Months Supply of Inventory of 5.6 months was at its highest level compared with September 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 September was 75, up 102.7% from 37 days last month and up 47.1% from 51 days in September of last year. The September 2015 DOM was at a mid range compared with September 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 September 2015 Selling Price vs List Price of 95.9% was down from 96.4% last month and up from 95.1% in September of last year.

The number of New Listings in September 2015 was 10, down -56.5% from 23 last month and down -52.4% from 21 in September 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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