Lincolnshire IL Real Estate Market Action Report December 2010

 

Lincolnshire’s November Property sales were 3, down -72.7% from 11 in November of 2009 and -66.7% lower than the 9 sales last month. November 2010 sales were at a mid level compared to November of 2009 and 2008. November YTD sales of 85 are running 13.3% ahead of last year's year-to-date sales of 75.


The Median Sales Price in November was $400,000, down -16.7% from $480,000 in November of 2009 and down -7.0% from $430,000 last
month. The Average Sales Price in November was $352,667, down -24.2% from $465,000 in November of 2009 and down -24.6% from $467,431 last month. November 2010 ASP was at a mid range compared to November of 2009 and 2008.

The Total Inventory of Properties available for sale as of November was 111, down -7.5% from 120 last month and down -7.5% from 120 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 37.0 months A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. was at its highest level compared with November of 2009 and 2008.


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  November was 299, up 133.6% from 128 days last month and up 353.0% from 66 days in November of last year. The November 2010 DOM was at its highest 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 78.4% was down from 85.9% last month and down from 89.9% in November of last year.


The number of New Listings in November 2010 was 12,
down -14.3% from 14 last month and down -36.8% from 19 in November of last year.

 

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