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April housing numbers up sharply for Naperville

Naperville Market Stats No Responses »
May 122010

Big single-family home

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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:$463,327Average List Price:$593,901
Total Inventory:1,174Price per Square Foot:$164
Average Home Size:2,999Median Lot Size:10,955
Average # Beds:4.04Average # Baths:3.20
Homes Absorbed:58Newly Listed:46
Days on Market:184Average 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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Posted by Tony Lazzari at 1:11 pm Tagged with: , ,

Mixed numbers for Naperville townhomes and condos

Around Naperville, Buyers Information, Market Statistics, Naperville Market Stats 1 Response »
Dec 182009

The numbers for attached homes in Naperville over the last 12 weeks have some positives in them: Units For Sale dropped 10% while units Sold climbed 17%. Obviously the decrease in inventory and increased sales bodes well for those who have their condos or townhomes on the market.

NAPERVILLE, IL
Condo
2010-08-27
Median List Price:$181,323
Total Inventory:582
Homes Absorbed:24
Days on Market:189

From a dollar perspective, prices for units Sold and Under Contract are down sharply -14% and -15% respectively. Some of this average decline in median prices could just be variations in the what units have sold (lower priced units vs higher priced units) and the seasonal nature of the market,  but some may also be reflective of a continued resetting of prices.

Median MAI for homes in NAPERVILLE, IL All ZIP Codes

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Posted by Tony Lazzari at 9:26 am Tagged with: , , ,

Aurora Condo and Townhome market report

Aurora, Aurora 204 Zip Codes, Buyers Information, Market Statistics, Mortgage, Real Time Market Statistics, Sellers Information No Responses »
Nov 222009

house2New this month – Market Report on Condos and Townhomes in Aurora. This will be following the same format as the monthly single family homes report but will focus on this segment of the market. Industry news in recent weeks has included the expansion and extension of the Home Buyer’s Tax Credit. Essentially, the program for first time buyers requires a contract date no later than April 30, 2010 and a close date no later than June 30, 2010. The amount is 10% or a maximum of $8,000. Income limits have been adjusted upward so more people may be eligible. Existing homeowners (not just upgraders) who have owned and lived in their home for five consecutive of the last eight years may be eligible for up to $6,500. This chart has a good summarization of the changes. And for a Frequently Asked Questions or FAQ, go here.

Data comparisons* are made for the current 12 week period vs the previous 12 weeks.

Homes Under Contract, 13 vs 10, or an increase of 30%. This upward trend has been steadily continuing over the last several months and continues into the fall months. Homes Sold remained steady – 11 vs 11. They have been at this level on a continuous basis since early June, 2009, indicating a relatively stable market.

Continuing a trend that  started in July, Homes For Sale decreased 9% from 610 to 558. This continued reduction in inventory bodes well for stabilization in pricing and competition in the marketplace.

Median Price for Homes Sold in October 09 is down less that 1% from $152,167 to $151,288 – an insignificant change. The median for Homes Under Contract however, dropped from $162,575 to $150,896 – a decrease of 7.2%. Median List Price dropped 2.5% from $162,262 to $158,171. All three pricing metrics have been gradually declining over the past 6 months.

Condos and Townhomes in Aurora, IL

These stats are also available on an individual zip code basis. Contact me to take a closer look at your particular area. Or request your own customized report and it will be emailed promptly.

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