Naperville Home Sales Activity Report February 2011 – Single Family
Naperville Home Sales Activity Report
Last post we looked at Naperville Foreclosure activity for February 2010 vs the same period this year. The focus was single family homes. This post we will address non-bank, Naperville, single family, February 2011 vs February 2010. Again, our goal is to be able to see the trends in each market segment and what, if any, impact one segment has on the other.
Naperville Home Sales February 2011 vs February 2010
February was pretty much a flat month over the same period a year ago in this segment. Homes sold were up 2, or 5.1%. Interestingly, of total homes sold in the month, 82% were traditional ownership, not bank-owned. Homes that went Under Contract were down to 65 from 83, a decrease of 21.7%. Seven out of 10 homes put under contract were traditionally owned. And homes for sale? This measure dropped, same month vs same month, by over 17% to 666. Approximately 85% of the homes for sale are non-bank owned.
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Naperville Non-Bank Owned |
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| Measure | Feb-10 | Feb-11 | Change |
| Sold | 39 | 41 | 5.1% |
| Under Contract | 83 | 65 | -21.7% |
| For Sale | 805 | 666 | -17.3% |
| Months Supply | 8 | 8.5 | 6.3% |
Bottom line? The reduction in inventory is a positive and should have some impact on choices for buyers. Months Supply of Inventory (MSI) has actually bumped up to 8.5%. Over all for the total sinagle family market in Naperville, MSI is at 6.8%. A neutral market, one that favors neither buyer or seller, is generally considered to be at 6 months.
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Next Up – Naperville Bank Owned Condos & Townhomes
[...] post we looked at Naperville Single Family activity for February 2011 vs the same period this year. This post we will address bank owned (REO) Naperville, condo and [...]
[...] post we looked at Naperville Single Family activity for February 2011 vs the same period this year. This post we will address bank owned (REO) Naperville, condo and [...]