By Art Wilson, Realtor
Lake Bluff's October Property sales were 19, up 58.3% from 12 in October of 2014 and 46.2% higher than the 13 sales last month. October 2015 sales were at their highest level compared to October of 2014 and 2013. October YTD sales of 171 are running 16.3% ahead of last year's year-to-date sales of 147.
The Median Sales Price in October was $508,000, up 109.9% from $242,000 in October of 2014 and up 29.1% from $393,500 last month. The Average Sales Price in October was $775,632, up 109.9% from $369,483 in October of 2014 and up 92.3% from $403,308 last month. October 2015 ASP was at highest level compared to October of 2014 and 2013.
The Total Inventory of Properties available for sale as of October was 87, down -8.4% from 95 last month and up 11.5% from 78 in October of last year. October 2015 Inventory was at highest level compared to October of 2014 and 2013.
The October 2015 Months Supply of Inventory of 4.6 months was at its lowest level compared with October 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 October was 55, up 17.0% from 47 days last month and up 48.6% from 37 days in October of last year. The October 2015 DOM was at its highest level compared with October 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 October 2015 Selling Price vs List Price of 93.6% was up from 93.1% last month and up from 92.2% in October of last year.
The number of New Listings in October 2015 was 22, down -12.0% from 25 last month and up 37.5% from 16 in October of last year.
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