Naperville Real Estate Market Trends
The local real estate market in Naperville is constantly changing. Many factors influence it including the national and local economy, world events,
buyer perception and a host of other variables. Keeping track of local market conditions is important for both buyers and sellers for several reasons:
For sellers, your home is your primary asset and real estate has historically appreciated over time. Understanding how much your home is
appreciating is useful in determining how much equity you have to put down on a new home. If you are a buyer planning to purchase Naperville
real estate sometime in the near future, understanding
seasonal and long-term market fluctuations will allow you to better plan your move and know when the local real estate market is most
beneficial for you. My market condition reports are run monthly and contain information on the previous month's sales data. If you have
any questions or would like a custom market report based on the specific features of your home, please contact me.
December Market Conditions
Detached Style Single-Family Homes
The median price of homes on the market in Naperville remained rose slightly in December, going from $569,450 in November to $574,900 in
December. Also, the average price of homes sold during the month of December rose fairly significantly from $418,250 in November to $455,250. However,
this signals more of a return to normal than a large advance as the average price of homes sold in November was the third lowest monthly value over the last two
years. The number of homes
on the market continued to drop from a high of 1,462 in June to 963 in December. During the same month, the number of homes sold in Naperville actually
rose slightly from a low of 80 in November to 88 in December. The reduction of inventory coupled with an increase in number of units selling shows
a reversal in the downward trends our market has been displaying lately. This caused an over-all reduction in inventory from a two-year high invetory of
11.7 months in November to 8.9 months in December.
Access these detailed reports here:
December Median Sales
December Supply and Demand
December Inventory
Attached Style Single-Family Homes
The median price of homes on the market in Naperville remained fairly steady in the month of December rising from $222,500 in November to
$223,000. Likewise, the average price of homes sold during the month of December also remained steady at $220,000 from a November median of
$220,000. fell from $174,950 in October to $170,875. As was the case with detatched style homes,
the number of attached styles homes
on the market dropped substantially during the month of November, from 443 units in November to 399 in December - the lowest number since April of
this year. However, the number of homes sold during the past month also dropped from 47 to 41 - a two-year low. The reduction in inventory is
a welcome sign, but demand must go up for attached single-family homes in Naperville to completely reverse the slide. Consequently, the supply of
inventory in December remained at a high of 7.8 months - the third highest over the past two years.
Access these detailed reports here:
December Median Sales
December Supply and Demand
December Inventory
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