Deerfield IL Real Estate Market Action Report January 2017

By
Real Estate Agent with Coldwell Banker Residential Brokerage

By Art Wilson, Realtor

Deerfield's December Property sales were 24, up 20.0% from 20 in December of 2015 and 4.3% higher than the 23 sales last month. December 2016 sales were at their highest level compared to December of 2015 and 2014. December YTD sales of 417 are running 73.0% ahead of last year's year-to-date sales of 241.

The Median Sales Price in December was $438,950, up 15.1% from $381,250 in December of 2015 and down -14.0% from $510,200 last month. The Average Sales Price in December was $507,828, up 40.2% from $362,310 in December of 2015 and down -1.8% from $517,322 last month. December 2016 ASP was at highest level compared to December of 2015 and 2014.

The Total Inventory of Properties available for sale as of December was 165, down -22.5% from 213 last month and down -4.6% from 173 in December of last year. December 2016 Inventory was at a mid range compared to December of 2015 and 2014.

The December 2016 Month’s Supply of Inventory of 6.9 months was at its lowest level compared with December 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 December was 95, up 58.3% from 60 days last month and up 111.1% from 45 days in December of last year. The December 2016 DOM was at its highest level compared with December 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 December 2016 Selling Price vs List Price of 94.3% was down from 96.2% last month and down from 95.4% in December of last year.

The number of New Listings in December 2016 was 26, down -55.9% from 59 last month and down -31.6% from 38 in December 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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Laura Allen, Lake Tahoe - Truckee Real Estate for Sale www.TahoeLauraLuxuryHomes.com
Coldwell Banker, Tahoe City, CA (530) 414-1260 - Tahoe City, CA
Tahoe Real Estate Agent Helping Buyers and Sellers

Art Wilson - A great real estate market update for the Deerfield, IL area. I hope buyers and sellers call you for more information and help!

Jan 07, 2017 01:11 PM #1
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Art Wilson

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