Deerfield IL Real Estate Market Action Report January 2015

By
Real Estate Agent with Coldwell Banker Residential Brokerage

By Art Wilson, Realtor

 

Deerfield's December Property sales were 23, down -39.5% from 38 in December of 2013 and 21.1% higher than the 19 sales last month. December 2014 sales were at their lowest level compared to December of 2013 and 2012. December YTD sales of 325 are running -21.1% behind last year's year-to-date sales of 412.

The Median Sales Price in December was $300,000, down -28.1% from $417,500 in December of 2013 and down -33.3% from $450,000 last month. The Average Sales Price in December was $336,191, down -33.7% from $506,760 in December of 2013 and down -29.8% from $479,211 last month. December 2014 ASP was at the lowest level compared to December of 2013 and 2012.

The Total Inventory of Properties available for sale as of December was 83, down -12.6% from 95 last month and up 15.3% from 72 in December of last year. December 2014 Inventory was at a mid range compared to December of 2013 and 2012.

The December 2014 Months Supply of Inventory of 3.6 months was at a mid range compared with December 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 December was 42, down -25.0% from 56 days last month and up 23.5% from 34 days in December of last year. The December 2014 DOM was at a mid range compared with December 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 December 2014 Selling Price vs List Price of 96.4% was up from 96.3% last month and equal to 96.4% in December of last year.

The number of New Listings in December 2014 was 27, up 3.8% from 26 last month and up 58.8% from 17 in December 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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