By Art Wilson, Realtor
Lake Bluff's December Property sales were 13, up 30.0% from 10 in December of 2014 and 62.5% higher than the 8 sales last month. December 2015 sales were at a mid level compared to December of 2014 and 2013. December YTD sales of 193 are running 15.6% ahead of last year's year-to-date sales of 167.
The Median Sales Price in December was $400,000, down -18.8% from $492,500 in December of 2014 and up 27.1% from $314,750 last month. The Average Sales Price in December was $480,839, down -47.2% from $910,950 in December of 2014 and down -3.4% from $497,563 last month. December 2015 ASP was at the lowest level compared to December of 2014 and 2013.
The Total Inventory of Properties available for sale as of December was 75, down -10.7% from 84 last month and up 13.6% from 66 in December of last year. December 2015 Inventory was at highest level compared to December of 2014 and 2013.
The December 2015 Months Supply of Inventory of 5.8 months was at a mid range compared with December 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 December was 79, up 19.7% from 66 days last month and down -11.2% from 89 days in December of last year. The December 2015 DOM was at a mid range compared with December 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 December 2015 Selling Price vs List Price of 94.4% was down from 104.7% last month and down from 97.0% in December of last year.
The number of New Listings in December 2015 was 8, down -42.9% from 14 last month and equal to 8 in December of last year.
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