By Art Wilson, Realtor
Deerfield's October Property sales were 16, down -40.7% from 27 in October of 2013 and -50.0% lower than the 32 sales last month. October 2014 sales were at their lowest level compared to October of 2013 and 2012. October YTD sales of 278 are running -23.0% behind last year's year-to-date sales of 361.
The Median Sales Price in October was $419,950, up 6.0% from $396,000 in October of 2013 and up 10.2% from $381,000 last month. The Average Sales Price in October was $352,775, down -15.5% from $417,260 in October of 2013 and down -26.0% from $476,556 last month. October 2014 ASP was at a mid range compared to October of 2013 and 2012.
The Total Inventory of Properties available for sale as of October was 125, down -6.0% from 133 last month and up 42.0% from 88 in October of last year. October 2014 Inventory was at highest level compared to October of 2013 and 2012.
The October 2014 Months Supply of Inventory of 7.8 months was at its highest level compared with October 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 October was 33, down -21.4% from 42 days last month and down -25.0% from 44 days in October of last year. The October 2014 DOM was at its lowest level compared with October 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 October 2014 Selling Price vs List Price of 97.0% was up from 96.0% last month and down from 97.1% in October of last year.
The number of New Listings in October 2014 was 37, down -21.3% from 47 last month and up 19.4% from 31 in October of last year.
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