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.
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 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.
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