Lake Bluff IL Real Estate Market Action Report June 2010

The Total Inventory of Properties available for sale as of May was 148, up 1.4% from 146 last month and down - 5.7% from 157 in May of last year. May 2010 Inventory was at its lowest level compared with May of 2009 and 2008.

 

The Median Sales Price in May was $652,500, up 0.5% from $541,500 in May of 2009 and up 129.8% from $284,000 last month. The Average Sales Price in May was $674,500, up 17.9% from $572,000 in May of 2009 and up 98.1% from $340,500 last month. May 2010 ASP was at the highest level compared to May of 2009 and 2008. May Property sales were 8, up 100.0% from 4 in May of 2009 and -27.3% lower than the 11 sales last month. May 2010 sales were at a mid level compared to May of 2009 and 2008. May YTD sales of 40 are running 66.7%.

 

A comparatively lower Months Supply of Inventory is more beneficial for sellers while a higher MSI is better for buyers. The May 2010 MSI of 18.5 months was at a mid level compared with May of 2009 and 2008.

 

The Selling Price vs Original Listing Price reveals the average amount that Sellers are agreeing to come down from their original 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 May 2010 Selling Price vs Original List Price of 85.4% was up from 82.7% last month and up from 69.8% in May of last year.

The average Days On Market (DOM) shows 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

May was 153, down -13.6% from 177 days last month and down -56.4% from 351 days in May of last year. The May 2010 DOM was at its lowest level compared with May of 2009 and 2008.

 

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