By Art Wilson, Realtor
Lincolnshire's September Property sales were 5, down -50.0% from 10 in September of 2015 and -64.3% lower than the 14 sales last month. September 2016 sales were at their lowest level compared to September of 2015 and 2014. September YTD sales of 99 are running -13.2% behind last year's year-to-date sales of 114.
The Median Sales Price in September was $480,000, up 22.2% from $392,750 in September of 2015 and up 3.8% from $462,500 last month. The Average Sales Price in September was $445,360, down -10.7% from $499,000 in September of 2015 and down -7.0% from $479,011 last month. September 2016 ASP was at the lowest level compared to September of 2015 and 2014.
The Total Inventory of Properties available for sale as of September was 73, up 1.4% from 72 last month and up 21.7% from 60 in September of last year. September 2016 Inventory was at highest level compared to September of 2015 and 2014.
The September 2016 Months Supply of Inventory of 14.6 months was at its highest level compared with September 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 September was 20, down -66.7% from 60 days last month and down -73.3% from 75 days in September of last year. The September 2016 DOM was at its lowest level compared with September 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 September 2016 Selling Price vs List Price of 98.1% was up from 95.8% last month and up from 95.9% in September of last year.
The number of New Listings in September 2016 was 14, down -46.2% from 26 last month and up 55.6% from 9 in September of last year.
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