Naperville, IL 60540 Real Estate Market Statistics through June 2010
Good News Bad News
Remember the line “I’ve got good news and bad news for you?” That’s what the Naperville 60540 market statistics are telling us through the end of June, 2010. Average list prices remain above $700,000 while median list prices are in the mid $400′s. Homes are still selling, though not as quickly.
| 90-day stats for Single Family properties in NAPERVILLE, IL60540 as of February 3, 2012 | |||
|---|---|---|---|
| Median List Price: | $446,018 | Average List Price: | $660,294 |
| Total Inventory: | 189 | Price per Square Foot: | $192 |
| Average Home Size: | 3,075 | Median Lot Size: | 10,863 |
| Average # Beds: | 3.82 | Average # Baths: | 3.08 |
| Homes Absorbed: | 11 | Newly Listed: | 5 |
| Days on Market: | 277 | Average Age: | 31 |
Median prices continue to decline in 2010 from the relative stability we had in the fourth quarter of 2009. Year to date, the median price has declined around 1% per month.
Inventory continues to rise to its highest levels since November 2009. Higher inventories mean more competition for sellers and more choices for buyers. This usually leads to increased pressure on home prices.
The good news? Market times are continuing to decline. Homes sell when they are priced attractively to the market – not before. Remember, the market determines what the selling price of the home is – not the investment in the home or what the seller needs to get out of the property.
With increased competition in the market and lower prices it is great time to invest in Naperville homes. Sooner or later, the market will turn around and those folks who act now will be able to benefit in the near future.