Naperville Home Sales Activity Report March 2011

Naperville Foreclosure March 2011 vs March 2010

This is an extremely active market segment and the pace is picking up! Home Sold in this segment increased by 57% over same period one year ago and Homes Under Contract jumped 100%.  Foreclosed homes for sale? These are also increases from February 2011 activity. They dropped by 74%. The table below shows these accelerating trends.

Most telling is the continued drop in MSI (Months Supply of Inventory). March dropped to 2.1 months from 8.1 a year ago. Remember, a MSI of 6 indicates a balanced market – under 6 favors sellers. If you are an investor in Naperville or a buyer looking for a Foreclosed home, be prepared to act quickly when the properties hit the market. They are not lasting long!

If you want more detailed information or would like to discuss opportunities, please give me a call @ 630.542.7732. Want to see what is available in the foreclosure market? Sign up for our Foreclosure Report.

Next Up – Naperville Single Family Homes – Non Bank Owned

Naperville Housing Market Report February 2011

Naperville Market Update

The Case-Shiller Report for December came out today and show that the numbers for the Chicago MSA are about where they were in November 2004. On a national composite level, they are reporting a 3.9% decline for the fourth quarter of 2010 and down 4.1% versus the same quarter 2009. Our Naperville numbers are a bit more current than that. In addition we look at 7 day rolling averages versus 90 rolling averages to try and get an early read on trends.

In looking at the charts below, we can see the beginnings of a seasonal uptick in median pricing. This same measurement for the Chicago area shows a flattening in pricing – a good sign after a declining fourth quarter.

In DuPage County, on average we do not see the uptick yet. Prices continue to fall. Naperville, meanwhile, is beginning to show a signs of turning upward. These charts are set to update automatically, so bookmark this page and check back to follow the trends as they are occurring.

What are Naperville’s Hottest Subdivisions in 2010

2010′s Hottest Naperville Subdivisions

How has the real estate market been in Naperville? Where are houses selling in town? Well here is this year’s Top 25 list of the subdivisions with the most activity – defined as closed sales transactions – in 2010. There are quite a few changes over the 2009 list, but, given the lower volume of activity that is to be expected. Subdivision locations can be found on the map from the City of Naperville. 2008 – 2009 Rankings can be found here.

*Downtown is the area on the subdivision map referred to as Naperville Station.

Want to see what is currently for sale in these or other subdivisions in town? Check them out here.

Let me know if average market time and average sale price interest you on a subdivision level. I have that available. If you want information on others, just give me a call or drop me a note. Cheers!

November Market Reports for Naperville, Il zip code 60563

Housing Market Report for Naperville 60563 – November 2010

Today we look at north Naperville, zip 60563. Here too, Homes Absorbed are greater than Newly Listed, a positive sign for reduction in inventory, a trend that is continuing from this summer’s July high. The difference between Median Price and Average List price is almost 31%! This is an indicator that the higher priced homes are beginning to dominate the available inventory. This is not totally unexpected as many lower priced units were removed from inventory as a result of the first time buyers tax credit.

On a year over year basis for the same quarter, Naperville zip code 60563 has seen a reduction in units sold of 20%, but an increase in average Sale Price of 9.3% – one of the best percentage gains in over 2 years! It would e nice to see this if this is sustainable.

November Market Report for Naperville Zip Code 60564

Today we look at southwest Naperville, zip 60564. Here too, Homes Absorbed are greater than Newly Listed, a positive sign for reduction in inventory, a trend that is continuing from this summer’s July high. The difference between Median Price and Average List price is hovering around 6% which is typical when lower priced properties are dominating the market.

On a year over year basis, prices in zip 60564 are up 6.5% over the same Quarter last year. Units sold are down 10.6%, the lowest percentage for any zip code in Naperville. As always, if you would like to receive this type of information on a regular basis,  enter your email and preferred zip code in the sign up on the right. If you would like to examine your particular area in greater depth, simply email me with the subdivision or school area.

October Market Report for Naperville 60565

Here are the latest Market Statistics on Naperville, 60565.  As you can see, the gap between Average List Price and Median List Price is increasing. This is indicative of more, higher priced homes on the market, which means increased competition at the higher price points. That makes condition of the property even more critical.

A key statistic to note is that Homes Absorbed and Inventory are both moving in positive directions over the elevated numbers of a few months ago. While Inventory may be decreasing, buyers still have plenty of choices.

August September Real Estate Market Report for Naperville

So what is the real story with the housing market? I’ve been been reading all the national reports, Case- Schiller, NAR, more local reports, and blogs from trusted sources from around the country. I recently had the opportunity to hear Steve Harney talk at the Illinois Association of Realtors Annual Meeting. Here are the highlights:
The federal tax credits brought very few if any, new buyers to the market. The incentives pulled purchases forward, in effect, robbing Peter to pay Paul. Now that those have closed, or will close in the next few weeks, expect to see a slowdown and darker reports on homes sold.
Foreclosures – Illinois is a judicial foreclosure state so it is one of the 23 directly affected by the banks freeze on current homes in the foreclosure process. Foreclosed homes that have either been on the market or waiting to come on the market (in redemption) are effectively off the market until this latest snafu is sorted out.
Locally, showing activity is up, sharply. The first weekend in October was the 3rd highest of the year for our office in terms of appointments for showings.
Homes that have been sitting on the market for extended periods have received multiple offers.
Personally, I have written more contracts in the last 3 weeks than any other month this year.

What does this mean? Smart buyers are starting to take advantage of the low prices and incredibly low interest rates. New buyers with nothing to sell do not view this as a bad market: to them it is an incredible opportunity to buy more home, for less money, than could have been done 5 years ago. Sellers – don’t look for any real pricing recovery for the next 18 months. We may see a temporary blip because of reduced inventory as a result of the foreclosure freeze (depending on how long it lasts), but expect a flat market for the most part.

That all being said, here are the latest Naperville Single Family numbers for August/September 2010:

August-September View

If you want to change the view period, adjust the slider at the bottom of the mini-graph.

Want the latest Naperville area real estate market stats?

If you are looking for the latest Naperville area real estate market statistics, simply find the target (zip code) marker below, click, and enter your email address. The latest report will be provided to you FREE of charge. Plus, you won’t be spammed – guaranteed. So check it out, get the latest information on the area you are interested in (or areas – you can request multiple areas) and happy searching. If you want to see homes for sale in each area, simply look to the top of the page to Market Reports or Home Search. And, as always, if I can be of further assistance or provide additional information and intelligence, drop me an email or give me a call.
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Aurora, IL Real Estate Market Conditions: Condos and Townhomes, zip 60502

Median Price for homes in AURORA, IL 60502 as of January 7, 2011 is $175,000	Inventory for homes in AURORA, IL 60502 as of January 7, 2011 is 95
Average Days on Market for homes in AURORA, IL 60502 as of January 7, 2011 is 225	Median MAI for homes in AURORA, IL 60502 as of January 7, 2011 is 13.01

Naperville, IL Real Estate Market Conditions

Median Price for homes in NAPERVILLE, IL All ZIP Codes as of April 2, 2010 is $189,900	Inventory for homes in NAPERVILLE, IL All ZIP Codes as of April 2, 2010 is 592
Average Days on Market for homes in NAPERVILLE, IL All ZIP Codes as of April 2, 2010 is 258	Median Market Action Index for homes in NAPERVILLE, IL All ZIP Codes as of April 2, 2010 is 11.70