Lake Forest IL Real Estate Market Action Report July 2012

By
Real Estate Agent with Coldwell Banker Residential Brokerage

Lake Forest's June Property sales were 25, up 25.0% from 20 in June of 2011 and -30.6% lower than the 36 sales last month. June 2012 sales were at a mid level compared to June of 2011 and 2010. June YTD sales of 124 are running 18.1% ahead of last year's year-to-date sales of 105.

The Median Sales Price in June was $680,000, down -17.7% from $826,000 in June of 2011 and up 5.6% from $643,750 last month. The Average Sales Price in June was $861,920, down -22.7% from $1,115,100 in June of 2011 and up 5.2% from $819,361 last month. June 2012 ASP was at the lowest level compared to June of 2011 and 2010.

The Total Inventory of Properties available for sale as of June was 283, down -5.0% from 298 last month and down -28.4% from 395 in June of last year. June 2012 Inventory was at the lowest level compared to June of 2011 and 2010.

The June 2012 Months Supply of Inventory of 11.3 months was at a mid range compared with June of 2011 and 2010. 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 June was 172, up 21.1% from 142 days last month and up 42.1% from 121 days in June of last year. The June 2012 DOM was at its highest level compared with June of 2011 and 2010.

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 June 2012 Selling Price vs List Price of 91.7% was up from 91.5% last month and up from 91.2% in June of last year.

The number of New Listings in June 2012 was 53, down 19.7% from 66 last month and down -11.7% from 60 in June of last year.

Posted by

Art Wilson, Broker, ABR, CRP, CRS
Coldwell Banker Residential Brokerage        
552 Lincoln Ave.Winnetka, IL 60093              

Cell: 847-363-1599

Serving Chicago's North Shore Suburbs

Art.Wilson@cbexchange.com 
www.NorthShoreHomesOnline.com

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Rainmaker
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Captain Wayne Rowlett
Rowlett Real Estate School LLC - Destin, FL
Florida Real Estate School

Hi Art,
Thank you for the updated information on the Lake Forest Real Estate Market! 

Jul 07, 2012 07:04 AM #1
Rainmaker
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Art Wilson
Coldwell Banker Residential Brokerage - Lake Forest, IL
Realtor - Chicago's North Shore

Thanks. I have been preparing this report for about 3 years and have it all on my website including charts and graphs. Looks like the worst is behind us :)

Jul 08, 2012 11:05 AM #2
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Rainmaker
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Art Wilson

Realtor - Chicago's North Shore
Contact me now for available homes
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