Lake Forest IL Real Estate Market Action Report October 2010
September Property sales were 17, down 19.0% from 21 in September of 2009 and 48.5% lower than the 33 sales last month. September 2010 sales were at a mid level compared to September of 2009 and 2008. September YTD sales of 215 are running 66.7% ahead of last year's year-to-date sales of 129. The Total Inventory of Properties available for sale as of September was 407, down 2.2% from 416 last month and down 5.1% from 429 in September of last year. September 2010 Inventory was at its lowest level compared with September of 2009 and 2008.
The Median Sales Price in September was $600,000, down 31.6% from $877,000 in
September of 2009 and down 20.0% from $750,000 last month. The Average Sales Price in September was $890,999, down 23.9% from $1,170,443 in September of 2009 and down 7.2% from $960,501 last month. September 2010 ASP was at a mid range compared to September of 2009 and 2008.
The September 2010 Months Supply of Inventory of 23.9 months was at a mid level compared with September of 2009 and 2008. A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers.
The Selling Price vs Original Listing Price ris 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 September 2010 Selling Price vs Original List Price of 89.8% was up from 84.2% last month and up from 85.8% in September 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 September was 96, down 8.6% from 105 days last month and down 6.8% from 103 days in September of last year. The September 2010 DOM was at its lowest level compared with September of 2009 and 2008.
The number of New Listings in September 2010 was 56, up 3.7% from 54 last month and up 3.7% from 54 in September of last year.


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