Deerfield IL Real Estate Market Action Report March 2014

By
Real Estate Agent with Coldwell Banker Residential Brokerage

By Art Wilson, Realtor

 Deerfield's February Property sales were 15, down -6.3% from 16 in February of 2013 and -25.0% lower than the 20 sales last month. February 2014 sales were at a mid level compared to February of 2013 and 2012. February YTD sales of 35 are running 25.0% ahead of last year's year-to-date sales of 28.

The Median Sales Price in February was $440,000, up 45.2% from $303,000 in February of 2013 and up 44.5% from $304,523 last month. The Average Sales Price in February was $457,284, up 60.0% from $285,819 in February of 2013 and up 18.5% from $385,807 last month. February 2014 ASP was at highest level compared to February of 2013 and 2012.

The Total Inventory of Properties available for sale as of February was 68, down -6.8% from 73 last month and down -41.9% from 117 in February of last year. February 2014 Inventory was at the lowest level compared to February of 2013 and 2012.

The February 2014 Months Supply of Inventory  of 4.5 months was at its lowest level compared with February of 2013 and 2012. 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 47, down -7.8% from 51 days last month and down -52.0% from 98 days in February of last year. The February 2014 DOM was at its lowest level compared with February of 2013 and 2012.

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 2014 Selling Price vs List Price of 98.2% was up from 94.8% last month and up from 91.1% in February of last year.

The number of New Listings in February 2014 was 35, down -2.8% from 36 last month and down -30.0% from 50 in February 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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Ed & Tracy Oliva
West USA Realty - Arizona - Fountain Hills, AZ
The Oliva Team Arizona Agents

This is some great Info for all in your area,  keep up the good work and good luck in 2014, E

Mar 03, 2014 04:24 AM #1
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Art Wilson

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