Naperville Home Prices, Trends – October 2013 Real Estate Market Report

Here is the Naperville real estate report for October, 2013.

Naperville Home Sale Prices

The average home price for single-family home across all price ranges was $442,367.  That’s an improvement of 3.8% over October of 2012 when the average price was $426,109.

Average List Prices

The average original list price is up 4.5% over a year ago.  The most current average list is $528,356.

How Many Days Does It Take To Sell?

Across all price ranges, it takes less time to sell a house in Naperville than it did a year ago.  Overall, the average is 74 days, which is almost a third shorter time than last October.  Homes in the $350K to $520K range are  taking less than 2 months to sell.

How Much Are Sellers Getting?

Sellers are getting a little more this year than last year.  About 1.5% more on average.  So, no matter what price range you’re in, you should be getting roughly 96% of what you’re asking for as a list price.

Housing Inventory Supply

For homes priced less than about $515,000, the supply of homes is about 2.5 months.  That means that inventory is generally low and sellers have a slight advantage.  Supply for higher-end homes is about 6 months, which means that neither sellers nor buyers have a significant advantage over one another.

How Many Homes Are For Sale?

There were 442 for sale in October 2013, which is nearly 11% more than 12 months ago.

How Many Homes Sold?

Across all prices ranges, only 3.2% more homes sold as compared to a year ago.  This is slightly deceiving though because the homes priced less than $350K had a negative percentage while homes priced higher were selling roughly 20% more than last year.

Summary

Things are still on the upswing as compared to last October, especially for mid and higher-end homes.  The seasonal slowdown starts around October but the continued positive trend is a good sign for buyers and sellers.

About John Reh

I moved to Naperville in 1981 and I love this city. As a Naperville-focused real estate agent, I publish this website to promote our community and help current and soon-to-be residents discover the best of Naperville homes and lifestyle. Contact me at any time.

Comments

  1. Mark Moulesong says:

    Great information, Thank you for sharing.
    Hope you had a great holiday.

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