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We are seeing a lot of numbers lately on this housing trend or that particular statistic on a national or regional basis and those are all well and good, but as always, here we look at what is happening to prices and sales activity for single family homes in Naperville. All statistics used in these reports come directly from Terradatum Inc. Their source is reported multiple listing service transactions. After an interesting 2009, how did 2010 start? Let’s look:

Sold Homes: The average price for a single family home in Naperville sold for $444,261 in January 2010. That is an increase of 16.1% from the January 2009 average price of $382,554. Median prices were relatively flat at $371,750 vs $366,500. The gap between average and median price is typically around 12%. This month it is around 16%. That type of increase is only going to be caused by a wider range of prices above the median – an indicator that the upper levels of the Naperville housing market are starting to move. It will be interesting to see if this trend continues in the coming months.

The number of units sold is also up for January 2010 vs January 2009 at 44 vs 40 or a 10% increase. Homes under contract had a much sharper increase to 78 from 61 for the same period one year ago; an increase of 28%.

As always, if you want more detailed information or to look at the numbers on a more hyper-local level (zip code or subdivision) simply Order your free Market Report or drop me an email.

This month’s market statistics report will focus on single family homes in all of Naperville. If you want zip code specific breakdowns fill in your info in the table to the right to have a report emailed to you. Or select the community of interest from the menu bar above. Look for a follow up post on condos/townhomes.

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

Homes Under Contract, 29 vs 24, down 17.2%. We have seen a bit of a slowdown in homes going under contract. This is typical of the seasonal nature of real estate. This is the first down month after 7 consecutive months on the uptick. Homes Sold went from 29 12 weeks ago to 26 or a decrease of 10.3%. Again, this is not unusual give the time of year.

Continuing the trend started last month, Homes For Sale decreased almost 14% from 1,134 to 976. With fewer homes on the market, we should begin to see some stabilization in pricing.

Median Price for Homes Sold in October 09 is down 1.6% from $409,038 to $402,418 – an insignificant change. The median for Homes Under Contract however, dropped from $429,466 to $414,412 – a decrease of 3.5%. Median List Price remained flat: $491,859 vs $492,067.

The Market Action Index is broken out by market quartiles this month and reflects different activity levels for each market segment. The lower priced homes have seen the most stability in activity, tier two the second most, and so on. the high end luxury market continues to move at the slowest pace. For more detailed information, send an email request with your specifics or complete the Report Request and it will be emailed to you shortly. And, as always, feel free to share this information with others.

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