Deerfield IL Real Estate Market Action Report August 2016

By
Real Estate Agent with Coldwell Banker Residential Brokerage

By Art Wilson, Realtor

Deerfield's July Property sales were 56, up 36.6% from 41 in July of 2015 and 5.7% higher than the 53 sales last month. July 2016 sales were at their highest level compared to July of 2015 and 2014. July YTD sales of 244 are running 141.6% ahead of last year's year-to-date sales of 101.

The Median Sales Price in July was $433,000, up 8.3% from $400,000 in July of 2015 and down -0.5% from $435,000 last month. The Average Sales Price in July was $516,452, down -7.6% from $559,222 in July of 2015 and up 4.0% from $496,818 last month. July 2016 ASP was at a mid range compared to July of 2015 and 2014.

The Total Inventory of Properties available for sale as of July was 264, down -7.0% from 284 last month and up 12.8% from 234 in July of last year. July 2016 Inventory was at highest level compared to July of 2015 and 2014.

The July 2016 Months Supply of Inventory of 4.7 months was at a mid range compared with July 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 July was 59, up 15.7% from 51 days last month and up 47.5% from 40 days in July of last year. The July 2016 DOM was at its highest level compared with July 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 July 2016 Selling Price vs List Price of 96.0% was down from 96.2% last month and up from 95.7% in July of last year.

The number of New Listings in July 2016 was 71, down -36.0% from 111 last month and down -12.3% from 81 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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