By Art Wilson, Realtor
Lincolnshire's October Property sales were 8, down -11.1% from 9 in October of 2015 and 33.3% higher than the 6 sales last month. October 2016 sales were at their lowest level compared to October of 2015 and 2014. October YTD sales of 108 are running -12.2% behind last year's year-to-date sales of 123.
The Median Sales Price in October was $495,875, down -12.2% from $565,000 in October of 2015 and up 11.8% from $443,400 last month. The Average Sales Price in October was $468,395, down -27.4% from $644,779 in October of 2015 and up 11.7% from $419,467 last month. October 2016 ASP was at the lowest level compared to October of 2015 and 2014.
The Total Inventory of Properties available for sale as of October was 72, down -1.4% from 73 last month and up 22.0% from 59 in October of last year. October 2016 Inventory was at highest level compared to October of 2015 and 2014.
The October 2016 Months Supply of Inventory of 9.0 months was at its highest level compared with October 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 October was 91, up 435.3% from 17 days last month and up 145.9% from 37 days in October of last year. The October 2016 DOM was at a mid range compared with October 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 October 2016 Selling Price vs List Price of 93.4% was down from 98.1% last month and down from 94.8% in October of last year.
The number of New Listings in October 2016 was 19, up 18.8% from 16 last month and up 58.3% from 12 in October of last year.
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