Naperville Housing Market 1st Quarter Update
The first quarter of the new year is gone, we have a new President, some new economic policies, stimulus programs, and the like. What impact if (if any) have these changes had on home sales in Naperville? We will look at some key indicators, I’ll give you my thoughts, and I would love to hear yours (just fill in your comments below!). These are summary stats for all of Naperville. If you want zip code specific breakdowns they are also available.
Last 12 Weeks vs Previous 12 Weeks: (Source -Terradatum/MRED, LLC)
Homes Under Contract, 28 vs 19 up 46%. This has been a steady increase throughout the quarter and could be an indicator that there are good values to be had.
Median Price , $309.6k vs $343k or a drop of about 9.7%. the numbers for January and February are significantly lower than March, indicating a slight upturn in recent weeks in pricing.
Average Units for Sale of 1,515 vs 1,449 or decrease of 4.4% though the recent trend has been steadily climbing since early February. Higher inventories usually means more options to choose from for buyers and more competition for sellers.
Market Action Index is still hovering around the 10 mark which is indicative of a Buyers Market. (Neutrality is when the mark is around 30)
Summary Is what has been traditionally called the Spring Market here? Has is started? With units sold increasing, more homes coming on the market, and a slight uptick in pricing, we could be seeing the start of a more vibrant market. I am constantly in touch with other Realtors throughout the country (Twitter & Facebook) and many of them are also seeing positive market trends. (I give it about 6 weeks before the general news media starts reporting positively.)
Note: If you would like to be updated regularly on housing statistics in your area, just drop me an email and the data will be sent to you automatically.
[...] NAPERVILLE HOMES BLOG placed an observative post today on Naperville Housing Market 1st Quarter UpdateHere’s a quick excerptThe first quarter of the new year is gone, we have a new President, some new economic policies, stimulus programs, and the like. What impact if (if any) have these changes had on home sales in Naperville? We will look at some key indicators, I’ll give you my thoughts, and I would love to hear yours (just fill in your comments below!). These are summary stats for all of Naperville. If you want zip code specific breakdowns they are also available.Last 12 Weeks vs Previous 12 Weeks: (Source -Terrad [...]
[...] NAPERVILLE HOMES BLOG placed an interesting blog post on Naperville Housing Market 1st Quarter UpdateHere’s a brief overviewThe first quarter of the new year is gone, we have a new President, some new economic policies, stimulus programs, and the like. What impact if (if any) have these changes had on home sales in Naperville? We will look at some key indicators, I’ll give you my thoughts, and I would love to hear yours (just fill in your comments below!). These are summary stats for all of Naperville. If you want zip code specific breakdowns they are also available.Last 12 Weeks vs Previous 12 Weeks: (Source -Terrad [...]