Deerfield IL Real Estate Market Action Report May 2015

By
Real Estate Agent with Coldwell Banker Residential Brokerage

By Art Wilson, Realtor

 

Deerfield's April Property sales were 26, down -25.7% from 35 in April of 2014 and -10.3% lower than the 29 sales last month. April 2015 sales were at their lowest level compared to April of 2014 and 2013. April YTD sales of 97 are running -5.8% behind last year's year-to-date sales of 103.

The Median Sales Price in April was $374,500, down -21.2% from $475,000 in April of 2014 and down -10.2% from $417,000 last month. The Average Sales Price in April was $411,009, down -14.6% from $481,440 in April of 2014 and down -24.0% from $541,143 last month. April 2015 ASP was at the lowest level compared to April of 2014 and 2013.

The Total Inventory of Properties available for sale as of April was 200, up 6.4% from 188 last month and up 57.5% from 127 in April of last year. April 2015 Inventory was at highest level compared to April of 2014 and 2013.

The April 2015 Months Supply of Inventory of 7.7 months was at its highest level compared with April of 2014 and 2013. 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 April was 55, down -12.7% from 63 days last month and up 22.2% from 45 days in April of last year. The April 2015 DOM was at a mid range compared with April of 2014 and 2013.

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 April 2015 Selling Price vs List Price of 95.7% was up from 95.6% last month and down from 95.9% in April of last year.

The number of New Listings in April 2015 was 84, up 1.2% from 83 last month and up 6.3% from 79 in April 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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