Deerfield IL Real Estate Market Action Report June 2015

By
Real Estate Agent with Coldwell Banker Residential Brokerage

By Art Wilson, Realtor

 

Deerfield's May Property sales were 31, down -3.1% from 32 in May of 2014 and 19.2% higher than the 26 sales last month. May 2015 sales were at their lowest level compared to May of 2014 and 2013. May YTD sales of 128 are running -5.2% behind last year's year-to-date sales of 135.

The Median Sales Price in May was $530,000, up 35.0% from $392,500 in May of 2014 and up 41.5% from $374,500 last month. The Average Sales Price in May was $565,987, up 23.4% from $458,483 in May of 2014 and up 37.7% from $411,009 last month. May 2015 ASP was at highest level compared to May of 2014 and 2013.

The Total Inventory of Properties available for sale as of May was 199, down -3.9% from 207 last month and up 60.5% from 124 in May of last year. May 2015 Inventory was at highest level compared to May of 2014 and 2013.

The May 2015 Months Supply of Inventory of 6.4 months was at its highest level compared with May 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 May was 59, up 7.3% from 55 days last month and up 68.6% from 35 days in May of last year. The May 2015 DOM was at a mid - range compared with May 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 May 2015 Selling Price vs List Price of 96.0% was up from 95.7% last month and down from 98.1% in May of last year.

The number of New Listings in May 2015 was 85, up 1.2% from 84 last month and up 26.9% from 67 in May 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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