Admin

Lincolnshire IL Real Estate Market Action Report May 2017

By
Real Estate Agent with Coldwell Banker Residential Brokerage

By Art Wilson, Realtor

Lincolnshire’s March Property sales were 16, up 45.5% from 11 in March of 2016 and 220.0% higher than the 5 sales last month. March 2017 sales were at their highest level compared to March of 2016 and 2015. March YTD sales of 29 are running 52.6% ahead of last year's year-to-date sales of 19.

The Median Sales Price in March was $463,750, up 18.9% from $390,000 in March of 2016 and up 32.5% from $350,000 last month. The Average Sales Price in March was $452,556, up 5.6% from $428,455 in March of 2016 and up 2.4% from $441,750 last month. March 2017 ASP was at a mid range compared to March of 2016 and 2015.

The Total Inventory of Properties available for sale as of March was 65, equal to 65 last month and down -17.7% from 79 in March of last year. March 2017 Inventory was at a mid range compared to March of 2016 and 2015. The March 2017 Month’s Supply of Inventory of 4.1 months was at its lowest level compared with March 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 March was 89, down -22.6% from 115 days last month and down -16.0% from 106 days in March of last year. The March 2017 DOM was at a mid range compared with March 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 March 2017 Selling Price vs List Price of 94.2% was up from 92.0% last month and up from 91.9% in March of last year.

The number of New Listings in March 2017 was 30, equal to 30 last month and up 15.4% from 26 in March of last year.

Posted by

Art Wilson, Broker, ABR, CRP, CRS
Coldwell Banker Residential Brokerage        
552 Lincoln Ave.Winnetka, IL 60093              

Cell: 847-363-1599

Serving Chicago's North Shore Suburbs

Art.Wilson@cbexchange.com 
www.NorthShoreHomesOnline.com

Comments(0)