AUGUST PROPERTY SALES FOR LAKE COUNTY
August Property sales were 928, down -26.1% from 1,256 in August of 2013 and -12.5% lower than the 1,060 sales last month. August 2014 sales were at a mid level compared to August of 2013 and 2012. August YTD sales of 6,462 are running -12.3% behind last year's year-to-date sales of 7,372.
 
Prices
 
The Median Sales Price in August was $236,000, up 7.0% from $220,551 in August of 2013 and up 0.4% from $235,000 last month. The Average Sales Price in August was $323,685, up 7.2% from $302,052 in August of 2013 and up 7.7% from $300,511 last month. August 2014 ASP was at highest level compared to August of 2013 and 2012.
 
Inventory & MSI
 
The Total Inventory of Properties available for sale as of August was 4,475, down -3.6% from 4,644 last month and down -1.2% from 4,529 in August of last year. August 2014 Inventory was at the lowest level compared to August of 2013 and 2012.
 
A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The August 2014 MSI of 4.8 months was at a mid range compared with August of 2013 and 2012.
 
Market Time
 
The average Days On Market(DOM) shows 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 August was 55, up 5.8% from 52 days last month and equal to 55 days in August of last year. The August 2014 DOM was at its lowest level compared with August of 2013 and 2012.