Naperville Condo & Townhome Sales in 2011
And the 2011 Lists continue. Here we show the most active (in terms of sales) Condominium and Townhome developments in 2011. Shown below are the Top 10 Developments. In total, there were MLS reported sales in the past year. If you would like to see the homes currently on the market for any development, click here. Subdivision Map
| 2011 ATTACHED SALES | |
| DEVELOPMENT | UNITS |
| 1. Enclave at Ry Lakes | 25 |
| 2. Windridge | 25 |
| 3. Cress Creek | 15 |
| 4. Olive Trees | 15 |
| 5. Riverplace | 12 |
| 6. Pebblewood | 11 |
| 7. Carillon Club | 10 |
| 8. Chantecleer Lakes | 10 |
| 9. Ry Lakes | 10 |
| 10. The Fields | 10 |
And the overall numbers look like this:
| Type | List Average | Sale Average | Units |
| Foreclosed | $135,454 | $124,837 | 70 |
| Normal | $208,131 | $195,315 | 262 |
| Short | $127,334 | $118,432 | 38 |
| Overall | $186,006 | $174,010 | 370 |
An interesting anomaly – Foreclosed units listed and sold for a higher average price than Short Sales. Overall, approximately 30% of the market in 2011 was distressed sales: 19% Foreclosed, 10% Short Sales and almost 71% Normal sales.
Do you want information on your development or additional statistics on one of these? Drop us an email or give a quick call and tell us what you data you need. Chances are we can provide it quickly.
Naperville Foreclosure Activity February 2011 – Condo & Townhome
Naperville Foreclosure Activity Report
Last 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 townhome, 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 Condo & Townhome Sales February 2011 vs February 2010
February in this segment was mixed compared to the same period a year ago.
- Units Sold were down sharply from 12 to 5. Remember that a year ago the tax credit for first time buyers was in full swing and condos or townhomes are the market entry point for most.
- Homes that went Under Contract were up from 11 to 13 or 18.2%. Of the total number of units that went under contract during the month, 41% were bank owned. This measure is up considerably from the 34.5% a year ago.
- And homes for sale? This measure dropped, same month vs same month, by almost 17% to 90. Approximately 19% of the homes for sale are bank owned.
| Naperville Bank Owned | |||
| Measure | Feb-10 | Feb-11 | Change |
| Sold | 12 | 5 | -58.3% |
| Under Contract | 11 | 13 | 18.2% |
| For Sale | 108 | 90 | -16.7% |
| Months Supply | 8.5 | 5.5 | -35.3% |
Months Supply of Inventory (MSI) has dropped to 5.5. Over all for this segment in Naperville, MSI is at 13 months. A neutral market, one that favors neither buyer or seller, is generally considered to be at 6 months.So what we are seeing here is a tighter market for bank owned condos and townhomes. If you are a buyer in this market, be prepared for potential multiple offer situations on these type of 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 now in Naperville. Simply click here.
The statistics used in this report are from multiple listing service reports as provided by Terradatum, Ica
Naperville, IL Real Estate Market Conditions
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7-day stats for Condo properties in NAPERVILLE, IL as of April 2, 2010 |
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|---|---|---|---|
| Median List Price | $189,900 | Average List Price | $227,403 |
| Total Inventory | 592 | Price per Square Foot | $146 |
| Average Home Size | 1,271 | Median Lot Size | n/a |
| Average # Beds | 2.17 | Average # Baths | 2.04 |
| Homes Absorbed | 22 | Newly Listed | 27 |
| Days on Market | 258 | Average Age | 18 |
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Median Price for homes in NAPERVILLE, IL All ZIP Codes as of April 2, 2010 is $189,900 |
Inventory for homes in NAPERVILLE, IL All ZIP Codes as of April 2, 2010 is 592 |
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Average Days on Market for homes in NAPERVILLE, IL All ZIP Codes as of April 2, 2010 is 258 |
Median Market Action Index for homes in NAPERVILLE, IL All ZIP Codes as of April 2, 2010 is 11.70 |
