Lake Bluff IL Real Estate Market Action Report December 2010
Lake Bluff November Property sales were 3, down -66.7% from 9 in November of 2009 and -66.7% lower than the 9 sales last month. Lake Bluff's November 2010 sales were at their lowest level compared to November of 2009 and 2008. November YTD sales of 91 are running 9.6% ahead of last year's year-to-date sales of 83.
The Median Sales Price in November was $325,000, down -0.8% from $327,500 in November of 2009 and down -46.5% from $607,500 last month. The Average Sales Price in November was $341,667, down -13.3% from $393,944 in November of 2009 and down -48.4% from $661,944 last month. November 2010 ASP was at the lowest level compared to November of 2009 and 2008.
The Total Inventory of Properties available for sale as of November was 107, down -9.3% from 118 last month and down -25.2% from 143 in November of last year. November 2010 Inventory was at the lowest level compared to November of 2009 and 2008. The November 2010 Months Supply of Inventory of 35.7 months was at a mid range compared with November of 2009 and 2008. 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 November was 25, down -88.8% from 223 days last month and down -89.5% from 237 days in November of last year. The November 2010 DOM was at its lowest level compared with November of 2009 and 2008.
The Selling Price vs Original Listing Price is 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
November 2010 Selling Price vs Original List Price of 105.8% was up from 82.7% last month and up from 81.1% in November of last year.
The number of New Listings in November 2010 was 13, down -45.8% from 24 last month and down -23.5% from 17 in November of last year.


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