Deerfield IL Real Estate Market Action Report August 2014

By
Real Estate Agent with Coldwell Banker Residential Brokerage

By Art Wilson, Realtor

 

Deerfield's July Property sales were 42, down -20.8% from 53 in July of 2013 and 2.4% higher than the 41 sales last month. July 2014 sales were at a mid level compared to July of 2013 and 2012. July YTD sales of 195 are running -21.7% behind last year's year-to-date sales of 249.

The Median Sales Price in July was $426,000, up 17.5% from $362,500 in July of 2013 and up 12.8% from $377,500 last month. The Average Sales Price in July was $482,115, up 20.7% from $399,441 in July of 2013 and up 6.6% from $452,302 last month. July 2014 ASP was at highest level compared to July of 2013 and 2012.

The Total Inventory of Properties available for sale as of July was 117, down -0.8% from 118 last month and up 7.3% from 109 in July of last year. July 2014 Inventory was at a mid range compared to July of 2013 and 2012.

The July 2014 Months Supply of Inventory of 2.8 months was at a mid range compared with July 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 July was 30, down -40.0% from 50 days last month and down -37.5% from 48 days in July of last year. The July 2014 DOM was at its lowest level compared with July 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 July 2014 Selling Price vs List Price of 96.9% was down from 97.0% last month and down from 97.3% in July of last year.

The number of New Listings in July 2014 was 64, equal to 64 last month and up 18.5% from 54 in July 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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