Here is the Naperville real estate report for September, 2013.
This September was an improvement from last year. Overall, there were 14.7% more listings, 16.4% more sales, and 15.2% fewer homes on the market as compared to 12 months ago.
This continues to be good news for the Naperville housing market.
Naperville Home Sale Prices
Single-family home sales prices rose slightly by a little less than 1%. The average price was $423,688. Detached homes made a larger increase at 12.8% to raise the average to $193,745. Luxury home prices have dropped as compared to last September while all other price ranges have remained stable.
Average List Prices
List prices have gone up about 9% for both detached and attached homes. The average list for single-family homes was $526,985 and for condos/townhomes it was $209,245. Across all price ranges for homes, the asking price went up except for in the mid-range price category.
How Many Days Does It Take To Sell?
Homes are continuing to sell much faster than 12 months ago. For both detached and attached homes, the days it takes to sell dropped by more than a third. Single-family homes now only take 2 months while condos/townhomes are now only about 3 months and change. Homes in all price categories saw significant drops with the lower-middle range seeing selling times just about cut in half.
How Much Are Sellers Getting?
Sellers are asking more and still getting it. The average price received as compared to list is now 95.2% for homes and 93.9% for condos/townhomes. There is especially good news for sellers in the high and low price categories where they’re getting more than 4% since 12 months ago.
Housing Inventory Supply
Months supply of inventory is down drastically as well. Attached homes are down by half to about 3.5 months. Detached is down by 20% to about 4 months. 4 months of supply is giving sellers a slight advantage. If you take away the luxury home market, other price ranges are seeing months supply of about 3 months, which definitely favors sellers.
How Many Homes Are For Sale?
The number of homes for sale has dropped since last September. There were 583 detached homes and 202 attached units on the market. Breaking down the price ranges we see that the mid and higher priced homes were up slightly while lower-priced homes were far fewer.
There were 204 new home listings and 85 new condos/townhomes. These are 17.9% and 7.6% jumps, respectively. The mid and higher price ranges accounted for all the new home listings.
How Many Homes Sold?
There were positive increases for closed home sales as well. Detached homes saw nearly a 10% increase to 135 and attached units jumped more than 35% to 65. All price ranges other than the low end saw very good improvements.
September 2013 has seen great gains since last year. The Naperville housing market is continuing to get stronger, which is great news for both buyers and sellers.
If you’re looking to buy or sell a home in Naperville, we can help. Contact us below.
Contact John Reh, Naperville Realtor
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