Lincolnshire IL Real Estate Market Action Report May 2011

Lincolnshire’s April Property sales were 6, down -25.0% from 8 in April of 2010 and 200.0% higher than the 2 sales last month. April 2011 sales were at a mid level compared to April of 2010 and 2009. April YTD sales of 17 are running 6.3% ahead of last year's year-to-date sales of 16.


The Median Sales Price in April was $536,500, up 48.4% from $361,500 in April of 2010 and down -26.0% from $725,000 last month. The Average Sales Price in April was $611,417, up 53.0% from $399,500 in April of 2010 and down -15.7% from $725,000 last month. April 2011 ASP was at highest level compared to April of 2010 and 2009.


The Total Inventory of Properties available for sale as of April was 133, up 5.6% from 126 last month and equal to 133 in April of last year. April 2011 Inventory was at the lowest level compared to April of 2010 and 2009.


The April 2011 Months Supply of Inventory of 22.2 months was at a mid range compared with April of 2010 and 2009. 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 April was 179, down -22.2% from 230 days last month and up 32.6% from 135 days in April of last year. The April 2011 DOM was at its highest level compared with April of 2010 and 2009.


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 April 2011 Selling Price vs Original List Price of 82.8% was up from 75.3% last month and down from 88.8% in April of last year.


The number of New Listings in April 2011 was 26, down - 3.7% from 27 last month and equal to 26 in April of last year.

 

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