By Art Wilson, Realtor
Deerfield's January Property sales were 23, down -4.2% from 24 in January of 2016 and -4.2% lower than the 24 sales last month. January 2017 sales were at a mid level compared to January of 2016 and 2015. January YTD sales of 23 are running -4.2% behind last year's year-to-date sales of 24.
The Median Sales Price in January was $510,000, up 14.6% from $445,000 in January of 2016 and up 16.2% from $438,950 last month. The Average Sales Price in January was $562,130, up 3.6% from $542,438 in January of 2016 and up 10.7% from $507,828 last month. January 2017 ASP was at a mid range compared to January of 2016 and 2015.
The Total Inventory of Properties available for sale as of January was 173, up 1.8% from 170 last month and down -11.7% from 196 in January of last year. January 2017 Inventory was at a mid range compared to January of 2016 and 2015.
The January 2017 Month’s Supply of Inventory of 7.5 months was at its lowest level compared with January of 2016 and 2015. 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 January was 72, down -24.2% from 95 days last month and down -15.3% from 85 days in January of last year. The January 2017 DOM was at a mid range compared with January of 2016 and 2015.
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 January 2017 Selling Price vs List Price of 89.9% was up from 89.5% last month and down from 91.5% in January of last year.
The number of New Listings in January 2017 was 70, up 169.2% from 26 last month and up 16.7% from 60 in January of last year.