“Top O’ the Morning To You” was the traditional greeting in my home when I was growing up (yes, I am 1/2 Irish on me sainted Mother’s side). “And the rest of the day to yourself” was the traditional reply. So, I Googled the phrase, and went to the Wiki to find a bit more of the background on this, and lo and behold, it appears to be a bit of blarney that it is an Irish saying at all! According to this source, the phrase actually comes from New Zealand of all places and only came to be attributed to the Irish thru Hollywood movie characters. Who knew?

Be that as it may, this Saturday, March 13, 2010 at 10:00 am, the West Suburban Irish St Patrick’s Day Parade kicks off in downtown Naperville. Route details and suggested parking information is available from the city of Naperville website.

There will be a change in the parade this year as the City has passed an ordinance prohibiting the throwing of beads, candy, etc during the parade. Seems there is the fear that parade watchers are being placed in peril and risk injury from the actions of the parade participants…(seriously biting my tongue here). However, these items may be handed out by people walking the parade route. So I guess you better get there early if you want a curbside seat so your kids can get their share of the swag. Otherwise they may be out of luck!

Personally, I enjoy the parade, the Irish Dancers, the floats, the school bands and the all the groups that participate. So come out Saturday morning and enjoy the festivities!

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!)

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.

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

According to the City of Naperville, the winter configuration for the 75th and Washington construction project will change effective the first week of March . According to an article in the Naperville Sun on February 22, 2010:  …

“Beginning the week of March 1, traffic on 75th Street will once again be reduced to one lane in each direction.

The lane reductions are required to complete work related to the 75th and Washington Intersection Improvement Project. Access to Clyde Drive from westbound 75th Street will also be closed at this time.

All work involving major lane closures on 75th Street and Washington Street is slated for completion in mid-August….”

So, be aware and be alert. Some one else may not be. peace.

Are you familiar with Naperville Magazine? From my vantage point it is one of the best new media publications in the area.  According to their about page, “Naperville Magazine is the premier community lifestyle magazine appealing to those who have a zest for life and an appreciation for new experiences, charitable events, and social happenings. Whether your interest is health, fitness, style, restaurant reviews, home features, or destination hot spots, our coverage will intrigue, inform and inspire.”

I read them online via an email subscription, but you can also follow them on Twitter and become a fan of their Facebook page. One of their annual features is underway right now and that is The Best of Naperville, 2010. Voting started in December 2009 and continues until June 15, 2010. Winners and one year’s bragging rights will be announced at their dinner on July 29, 2010 at the Hotel Arista.

There are 40 different categories, covering food, drink, professional services, etc. And, following an old Chicago tradition, you can vote 10 times (legally in this case)! So go ahead, log in and join me in voting for your favorites

Oh, one other thing…..if they had a category for Sports Personalities…..Evan Lysacek, Sean Payton, Candace Parker, Jerry Hairiston Jr, all world champions in the past year and all tied to Naperville – who would you vote for?

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