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

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.

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!

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.

90-day stats for Single Family properties in NAPERVILLE, IL60563 as of February 3, 2012
Median List Price:	$367,986	Average List Price:	$482,053
Total Inventory:	108	Price per Square Foot:	$169
Average Home Size:	2,520	Median Lot Size:	10,786
Average # Beds:	3.75	Average # Baths:	2.67
Homes Absorbed:	8	Newly Listed:	4
Days on Market:	238	Average Age:	33

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.

90-day stats for Single Family properties in NAPERVILLE, IL60564 as of February 3, 2012
Median List Price:	$479,773	Average List Price:	$523,703
Total Inventory:	234	Price per Square Foot:	$147
Average Home Size:	3,207	Median Lot Size:	13,035
Average # Beds:	4.18	Average # Baths:	3.56
Homes Absorbed:	10	Newly Listed:	6
Days on Market:	234	Average Age:	15

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.

90-day stats for Single Family properties in NAPERVILLE, IL60565 as of February 3, 2012
Median List Price:	$399,677	Average List Price:	$473,352
Total Inventory:	135	Price per Square Foot:	$155
Average Home Size:	2,716	Median Lot Size:	10,899
Average # Beds:	3.98	Average # Baths:	3.10
Homes Absorbed:	9	Newly Listed:	5
Days on Market:	231	Average Age:	23

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.

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.

]]> http://www.mynapervillehomesblog.com/buyers-information/august-september-real-estate-market-report-for-naperville/feed/ 0 http://www.mynapervillehomesblog.com/real-time-market-statistics/want-the-latest-naperville-area-real-estate-market-stats/ http://www.mynapervillehomesblog.com/real-time-market-statistics/want-the-latest-naperville-area-real-estate-market-stats/#comments Mon, 21 Jun 2010 20:24:12 +0000 Homes in Naperville http://mynapervillehomesblog.com/?p=2949 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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