Naperville Single Family homes on the rise

It is time to take a look at the performance in Naperville single family homes on a more long term basis. If you have been following these post in 2009, you know that typically I look at the 12 week period just ended vs the previous 12 week period – basically a rolling quarter vs quarter view. That let’s us see and track recent changes in market to try and spot trends as they are occurring (important if you are trying to catch a wave at a certain point). And 2009 had some quarterly ups and downs. Nationally, and on a statewide level we have been hearing numbers from Case Schiller and NAR that all point to short term improvements in housing numbers. Since real estate is so very local, our concern is Naperville and in particular for this analysis, single family homes, over a longer term to try and see a broader view.

The primary data source for the numbers used here is Terradatum Inc, as licensed by MRED, LLC. The graph is from Altos Research, Inc, a nationally recognized supplier of real estate data.

Supply and Demand: Since market inventory has such an impact on pricing (basic supply and demand philosophy) let’s look at those numbers first. Homes For Sale, are down 18% for Q4 09 vs Q1 09 (1,297 vs 1,583) while homes Under Contract are up 6.6% (225 vs 211) and Homes Sold are up an astounding 92.5% for the same time frame (281 vs 146). So, looks like things really improved in Naperville over the course of 2009.

On a more extended basis the trend is moderated somewhat by a 2008 that was weaker than the past year.. If we look back to Q1 08 thru Q4 09 we see the following: Homes for Sale dropped 20.7% to 1,297 from 1,636. Homes Under Contract are down 12.5% to 225 from 257. Homes Sold increased 44.1% to 281 from 195.

As always, if you want more detailed information or to look at the numbers on a more hyper-local level (zip code or subdivision) simply Order your free Market Report or drop me an email.  My next post will look at pricing for the same periods. Check back!

This entry was posted on Tuesday, January 5th, 2010 at 3:03 pm and is filed under Around Naperville, Buyers Information, Market Statistics, Naperville Market Stats. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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