By Art Wilson, Realtor
Deerfield's May Property sales were 35, up 775.0% from 4 in May of 2015 and -23.9% lower than the 46 sales last month. May 2016 sales were at their highest level compared to May of 2015 and 2014. May YTD sales of 135 are running 2150.0% ahead of last year's year-to-date sales of 6.
The Median Sales Price in May was $411,500, down -43.2% from $725,000 in May of 2015 and up 1.6% from $405,000 last month. The Average Sales Price in May was $474,091, down -44.6% from $855,000 in May of 2015 and down -7.6% from $513,320 last month. May 2016 ASP was at a mid range compared to May of 2015 and 2014.
The Total Inventory of Properties available for sale as of May was 254, down -5.2% from 268 last month and up 41.9% from 179 in May of last year. May 2016 Inventory was at highest level compared to May of 2015 and 2014.
The May 2016 Month’s Supply of Inventory of 7.3 months was at a mid range compared with May of 2015 and 2014. 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 58, up 28.9% from 45 days last month and up 114.8% from 27 days in May of last year. The May 2016 DOM was at its highest level compared with May of 2015 and 2014.
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 2016 Selling Price vs List Price of 96.9% was up from 96.2% last month and up from 94.3% in May of last year.
The number of New Listings in May 2016 was 102, down -11.3% from 115 last month and up 36.0% from 75 in May of last year.
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