It depends whether 5% (weight) means 5% weight/weight or 5% weight/volume - if the latter is true, you are correct.
However, 5% wt usually means 5% weight/weight and 5% weight/volume is normally written 5% w/v or 5% wt/v.
I suspect in this case it is 5 g of DMF in 100 g of solution. Only problem with this is that you would have to know the density of the solution to calculate the molarity accurately.