Naperville Home Prices Rise 11.9% in December 2013.
The December 2013 median sold price for single family homes sold in Naperville, IL has appreciated 11.9% when comparing December 2013 to December 2012 (year over year). The median price for single family homes sold in Naperville, IL has appreciated 10.3% when comparing December 2013 to November 2013 (month over month).
The median list price of single family homes for sale in Naperville during December was $434,900. The median sold price in Naperville during December was $423,000.
While the median home price movement is a key indicator in the health of the Naperville real estate market, it is far from the only driving factor. Whether you are a home owner in Naperville or a potential buyer interested in homes for sale in Naperville, IL you are undoubtedly interested in how the Naperville real estate market is doing. The only way you can truly know how the Naperville real estate market is doing is to be informed.
In this post, we display some of the key real estate statistics for December 2013. The following statistics include only single family homes in Naperville. The statistics do not include condos, townhomes, or multi-unit properties because they are a separate market from detached single family homes. Bowers Realty Group's website offers graphical representations of the statistics and a more comprehensive explanation of how the real estate market is doing in Naperville, including explanations of how the key metrics compare to the previous 13 months.
Homes Listed vs. Homes Sold
There were 795 detached single family homes listed for sale in Naperville during December 2013, with only 79 of those being new listings that went on the market in December. Of those 795 total homes listed, only 115 homes were sold in December. That means only 14.5% of the homes that were on the market for sale at some point in December actually sold.
Of the 795 homes listed for sale in Naperville during December, 85.9% were Traditional sales, 8.6% were Short Sales, and 5.5% were foreclosures. Compared to last year, that is an increase in Traditional sales over December 2012 of 5.1%, which means there is a smaller percentage of distressed properties on the market. This leads to higher home prices for the entire market.
Are homes selling quickly in Naperville?
The average for homes that sold in December 2013 was 101 days on the market. Do not assume that your home will sell in 101 days!!! The average number of days homes in Naperville are on the market before they sell varies significantly from month to month. In fact, it varies drastically from listing to listing. There are many factors that substantially impact how quickly a home sells, which is another topic in itself. Your home can sell much more quickly than the average. If you are interested in how quickly your home can sell, contact Bowers Realty Group at 630-712-1921.
Is it a Buyers' Market or a Sellers' Market in Naperville?
It is currently a Neutral Market in Naperville, meaning it is neither a Buyers' Market or a Sellers' Market. It is in between the two. To learn about how that is determined or where the signals for next month are pointing, review the report section of Bowers Realty Group's website, www.teambowersrealtors.com.The above statistics were calculated by Bowers Realty Group based on information directly from the MLS (Multiple Listing Service), Midwest Real Estate Data LLC. For more information about selling your house in Naperville or buying a home in Naperville, contact Bowers Realty Group at 630-712-1921.
The accuracy of all information, regardless of source, is deemed reliable but not guaranteed.