By Art Wilson, Realtor
Lincolnshire's February Property sales were 2, down
-75.0% from 8 in February of 2013 and -77.8% lower than the 9 sales last month.
February 2014 sales were at their lowest level compared to February of 2013 and
2012. February YTD sales of 11 are running 10.0% ahead of last year's
year-to-date sales of 10.
The Median Sales
Price in February was $550,000, up 26.3% from $435,500 in February of 2013 and
up 5.3% from $522,500 last month. The Average Sales Price in February was
$550,000, up 14.9% from $478,763 in February of 2013 and down -10.9% from
$617,067 last month. February 2014 ASP was at highest level compared to
February of 2013 and 2012.
The Total Inventory of Properties available for sale as
of February was 44, up 7.3% from 41 last month and down -15.4% from 52 in
February of last year. February 2014 Inventory was at the lowest level compared
to February of 2013 and 2012.
The February 2014 Months Supply of Inventory of 22.0
months was at its highest level compared with February of 2013 and 2012. 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 February was 77, up 16.7% from
66 days last month and up 35.1% from 57 days in February of last year. The
February 2014 DOM was at a mid range compared with February of 2013 and 2012.
The Selling Price
vs Listing Price is the average amount that Sellers are agreeing to come down
from their 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 February 2014 Selling Price vs List Price of 98.6% was up from 96.4% last
month and up from 94.3% in February of last year.
The number of New Listings in February 2014 was 17, up
70.0% from 10 last month and up 6.3% from 16 in February of last year.