By Art Wilson, Realtor
Deerfield’s May Property sales were 45, up 28.6% from 35 in May of 2016 and 7.1% higher than the 42 sales last month. May 2017 sales were at their highest level compared to May of 2016 and 2015. May YTD sales of 167 are running 23.7% ahead of last year's year-to-date sales of 135.
The Median Sales Price in May was $464,000, up 12.8% from $411,500 in May of 2016 and down -6.4% from $495,625 last month. The Average Sales Price in May was $522,024, up 10.1% from $474,091 in May of 2016 and down -5.7% from $553,866 last month. May 2017 ASP was at a mid range compared to May of 2016 and 2015.
The Total Inventory of Properties available for sale as of May was 279, up 9.8% from 254 last month and up 1.8% from 274 in May of last year. May 2017 Inventory was at highest level compared to May of 2016 and 2015.
The May 2017 Month’s Supply of Inventory of 6.2 months was at its lowest level compared with May 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 May was 31, down -63.1% from 84 days last month and down -46.6% from 58 days in May of last year. The May 2017 DOM was at a mid range compared with May 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 May 2017 Selling Price vs List Price of 96.6% was up from 92.6% last month and up from 94.8% in May of last year.
The number of New Listings in May 2017 was 126, up 32.6% from 95 last month and up 23.5% from 102 in May of last year.
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