By Art Wilson, Realtor
Deerfield's February Property sales were 9, equal to 0 in February of 2015 and -62.5% lower than the 24 sales last month. February 2016 sales were at their highest level compared to February of 2015 and 2014. February YTD sales of 33 are running 1550.0% ahead of last year's year-to-date sales of 2.
The Median Sales Price in February was $412,000, equal to $0 in February of 2015 and down -7.4% from $445,000 last month. The Average Sales Price in February was $466,000, equal to $0 in February of 2015 and down -14.1% from $542,438 last month. February 2016 ASP was at highest level compared to February of 2015 and 2014.
The Total Inventory of Properties available for sale as of February was 204, up 8.5% from 188 last month and up 164.9% from 77 in February of last year. February 2016 Inventory was at highest level compared to February of 2015 and 2014.
The February 2016 Months Supply of Inventory of 22.7 months was at its highest level compared with February of 2015 and 2014. 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 65, down -23.5% from 85 days last month and equal to 0 days in February of last year. The February 2016 DOM was at its highest level compared with February of 2015 and 2014.
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 2016 Selling Price vs List Price of 96.0% was up from 95.0% last month and equal to 0.0% in February of last year.
The number of New Listings in February 2016 was 98, up 63.3% from 60 last month and up 276.9% from 26 in February of last year.
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