By Art Wilson, Realtor
Deerfield's May Property sales were 52, up 57.6% from 33 in May of 2012 and 67.7% higher than the 31 sales last month. May 2013 sales were at their highest level compared to May of 2012 and 2011. May YTD sales of 145 are running 46.5% ahead of last year's year-to-date sales of 99.
The Median Sales Price in May was $375,000, up 55.6% from $241,000 in May of 2012 and up 50.0% from $250,000 last month. The Average Sales Price in May was $441,067, up 47.6% from $298,734 in May of 2012 and up 2.4% from $430,846 last month. May 2013 ASP was at highest level compared to May of 2012 and 2011.
The Total Inventory of Properties available for sale as of May was 94, down -7.8% from 102 last month and down -39.7% from 156 in May of last year. May 2013 Inventory was at the lowest level compared to May of 2012 and 2011.
The May 2013 Months Supply of Inventory of 1.8 months was at its lowest level compared with May of 2012 and 2011. 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 May was 64, down -3.0% from 66 days last month and down -55.2% from 143 days in May of last year. The May 2013 DOM was at its lowest level compared with May of 2012 and 2011.
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 May 2013 Selling Price vs List Price of 95.4% was down from 96.5% last month and up from 93.1% in May of last year.
The number of New Listings in May 2013 was 58, down -4.9% from 61 last month and up 9.4% from 53 in May of last year.