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Want the latest Naperville area real estate market stats?

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Jun 212010

If you are looking for the latest Naperville area real estate market statistics, simply find the target (zip code) marker below, click, and enter your email address. The latest report will be provided to you FREE of charge. Plus, you won’t be spammed – guaranteed. So check it out, get the latest information on the area you are interested in (or areas – you can request multiple areas) and happy searching. If you want to see homes for sale in each area, simply look to the top of the page to Market Reports or Home Search. And, as always, if I can be of further assistance or provide additional information and intelligence, drop me an email or give me a call.
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April housing numbers up sharply for Naperville

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May 122010

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Well the rush to purchase a home and take advantage of the Federal Tax Credit has ended (except for certain military families) as of April 30, 2010. The impact in Naperville was fairly substantial with numbers up across the board on a month over month basis. All statistics used in these reports come directly from Terradatum Inc. Their source is reported multiple listing service transactions.

Sold Homes

The average price for a single family home in Naperville in 2010 was $421,230. That is a decrease of 2.2% from the 2009 average price of $430,662. Median prices were flat at $370,000. The gap between average and median price is typically around 12% – this past month that remained true to form at 12.2%. This was a return to typical levels as the previous month’s gap had been at 5%. This gap is a new number we are tracking now to gauge which ends of the market are moving.

The number of units sold is also up for April 2010 vs April 2009 at 197 vs 112 or a 76% increase. Homes under contract had a much sharper increase to 107 from 75 for the same period one year ago; an increase of almost 43%. This trend has continued since the start of 2010.

Months Supply of Inventory

MSI is a measure of how long, at the current rate of sales or absorption, would it take to sell out the market. The April MSI is 5, vs 10 a year ago – a decrease of over 50%. On a national level, the number is closer to 9 for this April and 14 months for last year at the same time – another indication that Naperville trends differ substantially from national numbers.

90-day stats for Single Family properties in NAPERVILLE, IL as of August 27, 2010
Median List Price:	$463,327	Average List Price:	$593,901
Total Inventory:	1,174	Price per Square Foot:	$164
Average Home Size:	2,999	Median Lot Size:	10,955
Average # Beds:	4.04	Average # Baths:	3.20
Homes Absorbed:	58	Newly Listed:	46
Days on Market:	184	Average Age:	22

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.

Well the rush to purchase a home and take advantage of the Federal Tax Credit has ended (except for certain military families) as of April 30, 2010. The impact in Naperville was fairly substantial with numbers up across the board on a month over month basis. All statistics used in these reports come directly from Terradatum Inc. Their source is reported multiple listing service transactions.

Sold Homes: The average price for a single family home in Naperville in 2010 was $421,230. That is a decrease of 2.2% from the 2009 average price of $430,662. Median prices were flat at $370,000. The gap between average and median price is typically around 12% – this past month that remained true to form at 12.2%. This was a return to typical levels as the previous month’s gap had been at 5%. This gap is a new number we are tracking now to gauge which ends of the market are moving.

Months Supply of Inventory is a measure of how long, at the current rate of sales or absorption, would it take to sell out the market. The April MSI is 5, vs 10 a year ago – a decrease of over 50%. On a national level, the number is closer to 9 for this April and 14 months for last year at the same time – another indication that Naperville trends differ substantially from national numbers.

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.

Naperville Absorption Rate - what is the market telling us?

Naperville Market Stats No Responses »

May 042010

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Looking at Absorption Rate & Months Supply of Inventory (MSI) gives one a quick view of how long, based on the current rate of sale, it would take the Naperville market to absorb all the homes currently for sale. Greater insight can be gained by looking at the trend of both. In doing so we gain perspective on market health and volatility.


Active Single Family Homes in			Naperville	as of	5/3/2010
1225
Contingent Listings				276
Truly Active Listings				949
Time	# Closed	+ Pending	= # Absorbed	/ Month	MSI*
12 mos	1176	276	1452	121	7.84
9 mos	809	276	1085	121	7.87
6 mos	468	276	744	124	7.65
3 mos	249	276	525	175	5.42
1mo	99	276	375	375	2.53

*MSI = Months Supply of Inventory

As you can see, over the last 12 months, Naperville was relatively flat, hovering around 7.75 MSI with approximately 120 something properties per month being absorbed. However, over the last three months, MSI has dropped to the mid 5′s and units absorbed per months increasing by roughly 40%. And in the past month activity has spiked as shown in the 1 month row.

Is this level of activity typical? Does it indicate a recovered market? Not really. Given the expiration of the Homebuyer Tax Credit on April 30, 2010 a surge in contracts being written has been expected. Historically, this time of year (March/April) has seen increases because of the “spring market” – exclusive of 08 & 09 when the spring market did not arrive until June/July. The true trend will pan out over the next several months. Bookmark this page and Market Reports for current updates.

Aurora, IL Real Estate Market Conditions: Condos and Townhomes, zip 60502

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Apr 172010

New report on condo and townhome market activity in Aurora, Il 60502

7-day stats for Condo properties in AURORA, IL60502 as of July 23, 2010
Median List Price	$186,900	Average List Price	$213,338
Total Inventory	126	Price per Square Foot	$129
Average Home Size	1,534	Median Lot Size	n/a
Average # Beds	2.33	Average # Baths	2.23
Homes Absorbed	8	Newly Listed	8
Days on Market	177	Average Age	9

Key figures to note in the table above are the Homes Absorbed and Newly Listed. In the past week twice as many came on the market as left. This will continue to put pressure on pricing as inventory rises.

Median Price for homes in AURORA, IL 60502 as of July 23, 2010 is $186,900	Inventory for homes in AURORA, IL 60502 as of July 23, 2010 is 126
Average Days on Market for homes in AURORA, IL 60502 as of July 23, 2010 is 177	Median MAI for homes in AURORA, IL 60502 as of July 23, 2010 is 15.53

As always, you may bookmark this page to see the updated stats each week, or subscribe to the RSS feed on the right or below. Or, better yet, if you want to talk give me a call or drop me an email or tweet.

Naperville, IL Real Estate Market Conditions

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Apr 062010

New feature on MyNapervilleHomesBlog - Weekly Condo/Townhome report. Check out the current numbers for the past 7 days below.

7-day stats for Condo properties in NAPERVILLE, IL as of April 2, 2010
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

As you can see, inventory continues to rise as more units are coming on the market than are being absorbed.

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
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

For Zip Code level detail, check out the Market Stats, Condo/Townhome tab above for greater detail on the Naperville market

Housing Market Continues Strong in Naperville

Naperville Market Stats No Responses »

Apr 052010

National news in housing has been good recently, with pending home sales up higher than expected for February. The numbers for Naperville single family homes continue steady on a month over month basis and stronger than a year ago. All statistics used in these reports come directly from Terradatum Inc. Their source is reported multiple listing service transactions.

Sold Homes: The average price for a single family home in Naperville in March 2010 was $387,483. That is an decrease of 7.1% from the March 2009 average price of $417,116. Median prices were also down from $389,000 to $371,000. The gap between average and median price is typically around 12%. Last month it was 26%: this month it is almost 7%. The decrease in the gap is indicative of heavier activity in the lower end of the market, possibly due to an influx of first time buyers getting into the market to take advantage of the First Time Buyer’s Tax Credit before the April 30, 2010 deadline.

The number of units sold is also up for March 2010 vs March 2009 at 91 vs 67 or a 36% increase. Homes under contract had a much sharper increase to 151 from 85 for the same period one year ago; an increase of 78%. This trend has continued throughout the first quarter of 2010.

Months Supply of Inventory is a measure of how long, at the current rate of sales or absorption, would it take to sell out the market. The March MSI is 5.9, vs 12 a year ago – a decrease of over 50%. On a national level, the number is closer to 10 for this March and 15 months for last year at the same time – another indication that Naperville trends differ substantially from national numbers.

Median MAI for homes in NAPERVILLE, IL All ZIP Codes

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.

Naperville single family homes continue strong in February

Buyers Information, Naperville Market Stats, Sellers Information No Responses »

Mar 062010

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National news in housing has been mixed lately, with home sales down over previous months but still higher than a year ago. The latest NAR report is available here. The numbers for Naperville single family homes continue steady on a month over month basis and stronger than a year ago. All statistics used in these reports come directly from Terradatum Inc. Their source is reported multiple listing service transactions.

Sold Homes: The average price for a single family home in Naperville sold for $423,729 in February 2010. That is an increase of 4.9% from the February 2009 average price of $404,026. Median prices were down at $315,080 vs $345,000. The gap between average and median price is typically around 12%. Last month it was 16%: this month it is almost 26%. 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 have started, and continue to move. Over the last two months the gap is widening.

The number of units sold is also up for February 2010 vs February 2009 at 52 vs 39 or a 33% increase. Homes under contract had a much sharper increase to 106 from 65 for the same period one year ago; an increase of 63%. (Both of these numbers are higher than January 2010 also!)

Inventory for homes in NAPERVILLE, IL All ZIP Codes

Months Supply of Inventory is a measure of how long, at the current rate of sales or absorption, would it take to sell out the market. The February MSI is 7.7, vs 14 a year ago – a decrease of over 46%. On a national level, the number is closer to 16 for this February and 24 months for last year at the same time – another indication that Naperville trends differ substantially from national numbers.

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.

Area variations in Naperville single family home pricing

Around Naperville, Buyers Information, Naperville Market Stats, Sellers Information 1 Response »

Mar 012010

In talking with new homebuyers in Naperville or transferees, I am often asked what a typical home goes for in Naperville and how much that has changed in the last several years. And the answer? It depends; what part of town (zip code) and even within a zip code, what subdivision. The following charts give a good picture of just home wide that variation is. Of note also is the differing trends by area.

As you can see, the first chart shows all of Naperville single family homes combined. Median price has dropped from around $508,000 13 months ago to a low in November of right around $480,000. Since then we have seen a recovery in prices to just under $490,000. Keep in mind, that median price in Naperville is generally about 12% lower than average price.

Our first breakout by zip code looks at 60540 home prices. During the same time period those have gone from a high of about $590,000 to just under $500,000 in August 09 – a sharp drop over a 4 month period. Since that time median prices have been drifting in a range of $490,000 to $500,000.

Next we look at home prices in 60563. Here we see a start around the $429,000 level with a decline to the low $390,000′s in December 09. Since then we have seen a sharp rebound to about $411,000 through February 2010.

Median home prices in 60564 have yet to see much of a recovery. Since April of 09 median pricing has gone from $568,000 to about $532,000 in February 2010.

Finally we look at 60565 home prices. This area of Naperville has weathered the past year much better than any other. In fact, the median price at the end of February 2010 of $445,000, is above the median of $430,000 in April 09! There had been a rise last summer to near the current level but there was a late year valley down to the low $430′s.

This is the maximum break out level for these charts. If you want to look deeper into your specific area or subdivision, drop me an email and we can take a look.

peace

A strong January for Naperville single family home sales

Buyers Information, Market Statistics, Naperville Market Stats, Sellers Information 1 Response »

Feb 072010

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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%.

Inventory for homes in NAPERVILLE, IL All ZIP Codes

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.

Hottest subdivisions in Naperville

Around Naperville, Buyers Information, Naperville No Responses »

Feb 062010

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Looking for a home in Naperville? Looking to sell a home in Naperville? Ever wonder what subdivisions have the most activity in terms of homes sold? The table below shows the Top 20 that have had the most single family homes closed within the last 24 months (2008 thru 2009). Want to know what is for sale in that subdivision? Just click on the name and you will quickly see what is currently on the market.

Rank	Subdivision	# Closed
1	Tall Grass	109
2	Ashbury	67
3	White Eagle	66
4	Brookdale	46
5	Cress Creek	45
6	East Highlands	42
7	Stillwater	42
8	West Highlands	40
9	Old Farm	39
10	South Pointe	38
11	River Run	34
12	High Meadow	32
13	Lakewood Crossing	30
14	Maplebrook II	30
15	University Heights	28
16	Winding Creek	27
17	Ashwood Creek	24
18	Old Sawmill	24
19	Knoch Knolls	23
20	Mission Oaks	23

Interested in a subdivision not listed here? Click here then enter the Zip code and start typing the subdivision (tract) name. Select the appropriate one and view the homes. If you need additional information, let me know via one of the buttons on the right. Enjoy, and peace.