By Art Wilson, Realtor
Deerfield's March Property sales were 21, equal to 0 in March of 2015 and 133.3% higher than the 9 sales last month. March 2016 sales were at their highest level compared to March of 2015 and 2014. March YTD sales of 54 are running 2600.0% ahead of last year's year-to-date sales of 2.
The Median Sales Price in March was $445,000, equal to $0 in March of 2015 and up 8.0% from $412,000 last month. The Average Sales Price in March was $466,060, equal to $0 in March of 2015 and up 0.0% from $466,000 last month. March 2016 ASP was at a mid range compared to March of 2015 and 2014.
The Total Inventory of Properties available for sale as of March was 234, up 12.0% from 209 last month and up 108.9% from 112 in March of last year. March 2016 Inventory was at highest level compared to March of 2015 and 2014.
The March 2016 Months Supply of Inventory of 11.1 months was at its highest level compared with March 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 March was 89, up 36.9% from 65 days last month and equal to 0 days in March of last year. The March 2016 DOM was at a mid range compared with March 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 March 2016 Selling Price vs List Price of 93.8% was down from 96.0% last month and equal to 0.0% in March of last year.
The number of New Listings in March 2016 was 89, down -9.2% from 98 last month and up 81.6% from 49 in March of last year.
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