Deerfield Il Real Estate Market Action Report July 2014

By
Real Estate Agent with Coldwell Banker Residential Brokerage

By Art Wilson, Realtor

 

Deerfield's June Property sales were 41, down -18.0% from 50 in June of 2013 and 46.4% higher than the 28 sales last month. June 2014 sales were at their lowest level compared to June of 2013 and 2012. June YTD sales of 153 are running -21.9% behind last year's year-to-date sales of 196.

 The Median Sales Price in June was $377,500, up 25.8% from $300,000 in June of 2013 and down -3.8% from $392,500 last month. The Average Sales Price in June was $452,302, up 34.1% from $337,249 in June of 2013 and up 5.9% from $427,266 last month. June 2014 ASP was at highest level compared to June of 2013 and 2012.

The Total Inventory of Properties available for sale as of June was 114, up 3.6% from 110 last month and up 2.7% from 111 in June of last year. June 2014 Inventory was at a mid range compared to June of 2013 and 2012.

The June 2014 Months Supply of Inventory of 2.8 months was at a mid range compared with June 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 June was 50, up 61.3% from 31 days last month and down -25.4% from 67 days in June of last year. The June 2014 DOM was at its lowest level compared with June 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 June 2014 Selling Price vs List Price of 97.0% was down from 98.7% last month and down from 97.6% in June of last year.

The number of New Listings in June 2014 was 64, up 1.6% from 63 last month and down -7.2% from 69 in June 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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