By Art Wilson, Realtor
Lake Bluff's September Property sales were 13, down -27.8% from 18 in September of 2014 and -31.6% lower than the 19 sales last month. September 2015 sales were at a mid level compared to September of 2014 and 2013. September YTD sales of 152 are running 12.6% ahead of last year's year-to-date sales of 135.
The Median Sales Price in September was $393,500, down -14.9% from $462,500 in September of 2014 and down -26.4% from $535,000 last month. The Average Sales Price in September was $403,308, down -31.0% from $584,361 in September of 2014 and down -30.5% from $580,684 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 90, up 1.1% from 89 last month and down -4.3% from 94 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 6.9 months was at a mid range 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 47, down -29.9% from 67 days last month and down -24.2% from 62 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 93.1% was down from 95.5% last month and down from 94.7% in September of last year.
The number of New Listings in September 2015 was 25, equal to 25 last month and up 66.7% from 15 in September of last year.
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