By Art Wilson, Realtor
Deerfield’s March Property sales were 28, up 33.3% from 21 in March of 2016 and 16.7% higher than the 24 sales last month. March 2017 sales were at their highest level compared to March of 2016 and 2015. March YTD sales of 76 are running 40.7% ahead of last year's year-to-date sales of 54.
The Median Sales Price in March was $452,750, up 1.7% from $445,000 in March of 2016 and down -9.2% from $498,700 last month. The Average Sales Price in March was $486,030, up 4.3% from $466,060 in March of 2016 and down -11.5% from $548,896 last month. March 2017 ASP was at highest level compared to March of 2016 and 2015.
The Total Inventory of Properties available for sale as of March was 227, up 9.1% from 208 last month and down -11.0% from 255 in March of last year. March 2017 Inventory was at a mid range compared to March of 2016 and 2015. The March 2017 Month’s Supply of Inventory of 8.1 months was at a mid range compared with March of 2016 and 2015. 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 62, up 26.5% from 49 days last month and down -30.3% from 89 days in March of last year. The March 2017 DOM was at a mid range compared with March of 2016 and 2015.
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 2017 Selling Price vs List Price of 95.5% was up from 94.4% last month and up from 90.3% in March of last year.
The number of New Listings in March 2017 was 111, up 15.6% from 96 last month and up 23.3% from 90 in March of last year.
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