The “Spring Market” Starts On a Good Foot.
The charts below represent a rolling 12-month average (or cumulative amount for some statistics) to better show the actual trends in the market. This data is specifically for sales of traditional resale single-family homes and does not include foreclosure, short-sale, or condo/townhome data.
Average Home Sale Prices
The average Naperville home price in April was $449,283, which is about the same as last month and a 4.8% increase over last April.
Average Original List Price
The price sellers originally put on their homes is up about 1% from a year ago to $527,438. This is down slightly from a peak last month but is still about the highest it’s been recently.
How Long Does It Take A Naperville Home To Sell?
Across all price ranges, the average time it takes a house to sell is about 9 weeks. This is down drastically from 12 months ago. Different price ranges have different selling times and the higher-priced homes take a little longer at 101 on average.
How Much Are Sellers Getting?
Sellers continue to get more money than last year. The average sale price is 95.7% of the original asking price. This is up 2.3% from last April. The price range in the $350K to $500K gets the most with an average of 97.1%. This is up 2.9% from last year.
Housing Inventory Supply
While most price ranges saw a very slight increase in the inventory supply, the average is still quite low at about 3.5 months. This basically means that sellers have a bit of an advantage because there just aren’t that many homes available for buyers.
How Many Homes Are For Sale?
In correlation to the supply, we see a handful more homes for sale this April than last. This is a 0.8% increase.
How Many Homes Sold?
The higher end of the market continues to see improvements over the last 12 months. There was an increase of 20% more homes sold in the $350-$500K range and 35% more homes sold in the $500K+ range. Obviously, great news for these home sellers.
The “Spring Market” is here and Naperville home prices are going in the right direction for sellers, especially the high-end ones. Supply levels are staying relatively constant and buyers are still out there looking to buy. Overall, it’s a good time to be in the market for both sides.
Thinking of buying or selling? Let me know what you need the most help with and I can get you started on what to do next. – John Reh
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