By Art Wilson, Realtor
Lincolnshire's January Property sales were 3, down -57.1% from 7 in January of 2015 and -62.5% lower than the 8 sales last month. January 2016 sales were at their lowest level compared to January of 2015 and 2014. January YTD sales of 3 are running -57.1% behind last year's year-to-date sales of 7.
The Median Sales Price in January was $489,000, down -20.7% from $616,600 in January of 2015 and up 1.3% from $482,500 last month. The Average Sales Price in January was $460,833, down -20.6% from $580,229 in January of 2015 and down -12.1% from $524,375 last month. January 2016 ASP was at the lowest level compared to January of 2015 and 2014.
The Total Inventory of Properties available for sale as of January was 50, equal to 50 last month and equal to 50 in January of last year. January 2016 Inventory was at a mid range compared to January of 2015 and 2014.
The January 2016 Months Supply of Inventory of 16.7 months was at its highest level compared with January of 2015 and 2014. 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 January was 58, down -31.8% from 85 days last month and down -49.6% from 115 days in January of last year. The January 2016 DOM was at its lowest level compared with January of 2015 and 2014.
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 January 2016 Selling Price vs List Price of 97.8% was up from 93.8% last month and up from 94.3% in January of last year.
The number of New Listings in January 2016 was 21, up 250.0% from 6 last month and equal to 21 in January of last year.
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