Lake Bluff IL Real Estate Market Action Report October 2017

By Art Wilson, Realtor

Lake Bluff’s September Property sales were 8, down -42.9% from 14 in September of 2016 and -60.0% lower than the 20 sales last month. September 2017 sales were at their lowest level compared to September of 2016 and 2015. September YTD sales of 138 are running -3.5% behind last year's year-to-date sales of 143.

The Median Sales Price in September was $594,500, up 157.9% from $230,500 in September of 2016 and up 44.3% from $412,000 last month. The Average Sales Price in September was $609,875, up 86.0% from $327,850 in September of 2016 and up 27.0% from $480,295 last month. September 2017 ASP was at highest level compared to September of 2016 and 2015.

The Total Inventory of Properties available for sale as of September was 84, up 10.5% from 76 last month and down -17.6% from 102 in September of last year. September 2017 Inventory was at the lowest level compared to September of 2016 and 2015.

 The September 2017 Month’s Supply of Inventory of 10.5 months was at its highest level compared with September 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 September was 84, up 281.8% from 22 days last month and up 95.3% from 43 days in September of last year. The September 2017 DOM was at its highest level compared with September 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 September 2017 Selling Price vs List Price of 91.7% was down from 95.1% last month and down from 93.4% in September of last year.

The number of New Listings in September 2017 was 33, up 57.1% from 21 last month and down -5.7% from 35 in September of last year.