By Art Wilson, Realtor
Lincolnshire's January Property sales were 8, up 166.7% from 3 in January of 2016 and 33.3% higher than the 6 sales last month. January 2017 sales were at their highest level compared to January of 2016 and 2015. January YTD sales of 8 are running 166.7% ahead of last year's year-to-date sales of 3.
The Median Sales Price in January was $377,000, down -22.9% from $489,000 in January of 2016 and up 2.9% from $366,250 last month. The Average Sales Price in January was $412,344, down -10.5% from $460,833 in January of 2016 and up 23.2% from $334,750 last month. January 2017 ASP was at the lowest level compared to January of 2016 and 2015.
The Total Inventory of Properties available for sale as of January was 63, up 18.9% from 53 last month and up 12.5% from 56 in January of last year. January 2017 Inventory was at highest level compared to January of 2016 and 2015.
The January 2017 Month’s Supply of Inventory of 7.9 months was at a mid range compared with January of 2016 and 2015. 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 71, down -9.0% from 78 days last month and up 22.4% from 58 days in January of last year. The January 2017 DOM was at a mid range compared with January of 2016 and 2015.
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 2017 Selling Price vs List Price of 92.8% was up from 83.2% last month and down from 94.8% in January of last year.
The number of New Listings in January 2017 was 26, up 271.4% from 7 last month and up 18.2% from 22 in January of last year.
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