Naperville Home Sales Activity Report February 2011
Naperville Home Sales Activity Report
Over the next few weeks we will be breaking down the Naperville housing market in a little more detail than we have in the past. We will be looking at
- Single Family homes and Attached Homes (Condos & Townhomes)
- Bank Owned (Foreclosure) properties
- Non-Bank Owned homes
Our goal is to be able to see the trends in each market segment and what if any impact one segment has on another. Why is this important? If you are contemplating selling, price trends and inventories as well as market volatility will impact or influence how and where you list your home. If you are buying, supply of available properties definitely influences what you may have to pay or want to pay for any given property.
Naperville Foreclosures February 2011 vs February 2010
If you are working with banks as sellers, or investor type buyers, you have noticed a shift in this market lately in Naperville. It has become very active! As you can see from the table below, inventory over the same month last year has dropped by over 15%! And months supply of inventory (MSI) has plummeted to 2.7 months. The “neutral” market level is typically considered 6 months, so to be at this level, the leverage has moved to the seller. Total of Sold and Under Contract has climbed by 50% over February 2010.
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Naperville Bank Owned |
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| Measure | Feb-10 | Feb-11 | Change |
| Sold | 13 | 9 | -30.8% |
| Under Contract | 11 | 27 | 145.5% |
| For Sale | 141 | 119 | -15.6% |
| Months Supply | 10.6 | 2.7 | -74.5% |
This is a significant change in the market and should have a positive impact on pricing as well as moving buyers into more traditional properties. 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
[...] 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 [...]
[...] 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 [...]