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.

Hottest subdivisions in Naperville

Image via Wikipedia

Looking for a home in Naperville? Looking to sell a home in Naperville? Ever wonder what subdivisions have the most activity in terms of homes sold? The table below shows the Top 20 that have had the most single family homes closed within the last 24 months (2008 thru 2009). Want to know what is for sale in that subdivision? Just click on the name and you will quickly see what is currently on the market.

Interested in a subdivision not listed here? Click here then enter the Zip code and start typing the  subdivision (tract) name. Select the appropriate one and view the homes. If you need additional information, let me know via one of the buttons on the right. Enjoy, and peace.

New Look for Naperville Market Stats

There is a new look to the Market Stats charts for Naperville, IL. The flash charts shown below allow you to look at different time frames, hover over data points to get detailed information and more. Play with them, change the view period (top left), move the sliders (bottom right) to select different ranges, or hover over a data point to see the details. Don’t forget to peek at the Inventory bar graph to see how that is tracking with the graphed stats.

Play with them and please, let me know what you think. (And if I am getting too geeky with the stats, let me know that too!)

All Naperville, Single Family Homes

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Adjust the slide bar above to change the view period.

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Naperville, 60540 Single Family Homes

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Adjust the slide bar above to change the view period.

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Naperville, 60563 Single Family Homes

[kml_flashembed movie="http://www.altosresearch.com/altos/widgets/AltosChart.swf" height="400" width="600" fversion="9" useexpressinstall="true" fvars="st = IL ; c = NAPERVILLE; z = 60563 ; ts = z ; pai = 52577180 ; q = a ; mini = median_inventory ; datahost = data.altosresearch.com ; datahostssl = false ; rt = sf ; s = mean_dom:l,median_price:r ; ra = c ; ihr = false ; fc = false ; rf = xml ; u = tonylazz ; p = aes_enc::BojMsH5VOSeZzqFUwfX2ow==" /]

Adjust the slide bar above to change the view period.

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Naperville, 60564 Single Family Homes

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Adjust the slide bar above to change the view period.

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Naperville, 60565 Single Family Homes

[kml_flashembed movie="http://www.altosresearch.com/altos/widgets/AltosChart.swf" height="400" width="600" fversion="9" useexpressinstall="true" fvars="st = IL ; c = NAPERVILLE; z = 60565 ; ts = z ; pai = 52577180 ; q = a ; mini = median_inventory ; datahost = data.altosresearch.com ; datahostssl = false ; rt = sf ; s = mean_dom:l,median_price:r ; ra = c ; ihr = false ; fc = false ; rf = xml ; u = tonylazz ; p = aes_enc::BojMsH5VOSeZzqFUwfX2ow==" /]

Adjust the slide bar above to change the view period.

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Naperville Market Stats – August continues upward

We have been hearing good statistics from all the national reports on housing lately. The consensus is that the housing recovery has started and may be gaining strength. Here in Naperville, the numbers are in for the end of August. And market momentum is continuing. Shown below are summary stats for all of Naperville. If you want zip code specific breakdowns they are also available. Of recent interest is the talk of “shadow inventory” in the foreclosure market and the impact that may have on local markets. Look for a post on that subject later this week.

Last 12 Weeks vs Previous 12 Weeks: (Source -Terradatum/MRED, LLC). Numbers shown are based on single family and townhome/condo data combined. Contact me for further individual breakdowns.

Homes Under Contract, 42 vs 38, up 9.6%. The trend continues, now in its sixth consecutive month here in Naperville. There are good values out there and buyers continue to advantage of them.

Median Price , $357.5k vs $301.4k – an increase of 18.6%. This metric started climbing in late April, and is related to increased demand in the marketplace. This represents the fourth month in a row of double digit growth in Median Price.

Average Units for Sale of 1,636 vs 1,638 – or a relatively stable inventory. We had been starting to see a decline in the weekly numbers over the past 10weeks. This is not an atypical occurrence given the time of year and all, but one does wonder what is typical in today’s market.

Units Sold has continued to climb on a weekly basis. The current average of 41 vs 29 in the previous 12 week period is an increase of 40.1%. The continued change in this metric is a measure of strength in the market. And it is not just foreclosures that are selling!

Single family slightly ahead of condo townhome

Market Action Index has climbed close to 11 which is still indicative of a Buyers Market. (Neutrality is when the mark is around 30) but a 22% jump from the previous level. With several months of inventory available at the current sales rate, buyers should still find ample inventory. For sellers, properties need to be in the best possible condition to get the market’s attention at their price point.

Summary Again, for the fifth  month in a row the Naperville market continues to show signs of recovery. Homes are going under contract and closings are increasing. Inventories are up slightly as are pending sales.

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 housing statistics – thru June 2009

The numbers are in for the end of June and are continuing to improve. Numbers released this morning show that nationally, pending sales in May increased for the fourth month in a row (source Inman News), with impetus coming from lower prices and the first time buyers credit. Our interest though is more local, and from that perspective the Naperville market momentum is continuing. Shown below 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). Numbers shown are based on single family and townhome/condo data combined. Contact me for further individual breakdowns.

Homes Under Contract, 45 vs 26, up 70.7%. This is a trend that we have noted for the last four months and is indicative of a healthier market. There are good values out there and buyers are taking advantage of them.

Median Price , $314.7k vs $307k – an increase of 11.6%. This metric started climbing in late April, and is usually related to increased demand in the marketplace.

Average Units for Sale of 1,645 vs 1,473 or an increase of 11.6%. The recent trend had been steadily climbing since early February until a flattening in April. This number has leveled out since early April – lower indicating a consistent level of available units.

Units Sold has continued to climb on a weekly basis. The current average of 32 vs 18 in the previous 12 week period is an increase of 72.1%, possibly indicative of renewed confidence in the market.

Market Action Index is still around the 9 mark which is indicative of a Buyers Market. (Neutrality is when the mark is around 30). With several months of inventory available at the current sales rate, buyers should still find ample inventory. For sellers, properties need to be in the best possible condition to get the market’s attention at their price point.

Summary Again, for the fourth month in a row the Naperville market continues to show signs of recovery. Homes are going under contract and closings are increasing. Inventories are up slightly as are pending sales.

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 housing stats thru May 2009

The numbers are in for the end of May and are continuing to improve. While the national numbers have not come out yet, our concern is more local, and from that perspective the Naperville market momentum is continuing. Shown below 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). Numbers shown are based on single family and townhome/condo data combined. Contact me for further individual breakdowns.

Homes Under Contract, 40 vs 22, up 84.5%. This is a trend that we have noted for the last three months and is indicative of a market regaining its health. There are good values out there and it seems buyers are taking advantage of them.

Median Price , $305k vs $299.9k -an increase of 1.9%. While volume in May is up vs April. This is the first monthly uptick in a while that we have seen in this number. One of the reasons may be the slight decrease in homes available as shown below.

Average Units for Sale of 1,608 vs 1,429 or an increase of 12.1%. The recent trend had been steadily climbing since early February with a flattening in April. This number has moved slightly downward since mid-April – lower inventories could be the cause of the slight upturn in prices we have seen.

Units Sold has continued to climb on a weekly basis. The current average of 28 vs 16 in the previous 12 week period is an increase of 69.2%, possibly indicative of renewed confidence in the market.

Market Action Index is still hovering around the 10 mark (with a slight upturn) which is indicative of a Buyers Market. (Neutrality is when the mark is around 30).

Summary Again, for the third month in a row the Naperville market continues to show signs of recovery. Homes are going under contract and closings are increasing. Inventories are stabilized to slightly down.

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 Housing Stats thru April

The numbers are in for the end of April and are continuing to improve. This morning, Reuters and others reported on the latest national housing market stats. Pending Sales are up for the second month in a row. On a more local level, the Naperville housing market continues to build momentum. Shown below 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). Numbers shown are based on single family and townhome/condo data combined.

Homes Under Contract, 34 vs 19, up 85%%. The trend we noted last month seems to be continuing There are good values out there and it seems buyers are taking advantage of them.

Median Price , $298.4 k vs $328.1k or a drop of about 9.1%. While volume in April is down vs March, the rate of decline is slower than it was in the previous period.) April usually has a “Spring Break” impact in Naperville – less volume.)

Average Units for Sale of 1,535 vs 1,443 or an increase of 6.4%. The recent trend has been steadily climbing since early February although the weekly number has been relatively flat during April. Higher inventories usually mean more options to choose from for buyers and more competition for sellers.

Units Sold has continued to climb on a weekly basis. The current average of 23 vs 17 in the previous 12 week period is an increase of 31%, possibly indicative of renewed confidence in the market.

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  The Naperville market continues to show signs of recovery. Slight variations in Median Price on a period by period basis are more a function of what units sold in that period and not necessarily indicative of a declining market. Has housing bottomed out? I think what we are seeing is a new level in the market – a return to some semblance of reality in values and volume. Just my thought but the numbers on a local and national basis seem to support improving confidence.

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 Housing Stats Weeky Update

NAPERVILLE THIS WEEK:  April 27, 2009

The median single family home price in Naperville this week is $499,625. The 1186 homes have been on the market for an average of 219 days. Inventory and days-on-market are climbing while the Market Action Index has been flat, continuing a trend of the past several weeks.

For a more detailed view of the market, including breakdowns by zip code, go to the Market Statistics tab and select the town you want to study. Those charts are updated weekly. Interested in a no charge subscription? Drop me an email and I’ll set you up to receive weekly reports via email.