Naperville Housing Market Predictions for 2014

The real estate market in 2013 brought about a trend of increased home values and a decrease in negative equity for most cities across the US.  In Naperville, a city that is often a positive exception to most happenings across our nation, shares positive trends in the housing market as well. In 2012, the average selling price of a home in Naperville was $413,909.  In 2013, the average selling price increased to $439,079 – a 6% increase over 2012.  In 2014, the overall housing market is expected to be an encouraging year.

According to Zillow.com, four housing predictions for 2014 are:

-Values will increase by 3 percent

-Mortgage rates will reach 5 percent

-It will be easier for borrowers to get a mortgage

-Homeownership will fall to the lowest point in two decades

These predictions indicate that values will continue to increase, mortgage rates will no longer be bottom barrel hence a sturdier system, and although homeownership may reach a low point, this also indicates that investment properties and rentals could increase.

For Naperville, 2013 was a year filled with nationwide recognition.  Naperville was ranked the #1 city for early retirement, Naperville library was ranked #1 in the nation, area high schools were ranked among the best high schools by U.S. News, and the increase in home values are an above average increase over the rest of the nation.   For Naperville, 2014 is a promising year. 

Dan Firks specializes in residential real estate for Chicago’s western suburbs.  As a Naperville resident and Realtor, he has been named a “5-Star Real Estate Agent” by Chicago Magazine, Zillow, and is the #1 Real Estate Broker at RE/Max of Naperville.  Have a questions about real estate?  Contact Dan at 630.637.9009 or dan@danfirks.com.  To view homes in Naperville go to www.NapervilleIllinoisHomes.com

This post is contributed by a community member. The views expressed in this blog are those of the author and do not necessarily reflect those of Patch Media Corporation. Everyone is welcome to submit a post to Patch. If you'd like to post a blog, go here to get started.

James L. Freeland January 26, 2014 at 05:55 PM
Well, ger, there you go again - promoting assumptions, not substantiated facts. Yes, I am familiar with the propaganda in the article you referenced, and just maybe we should also blame Bush on these incidents. And are you really going to try to match my intelligence? If so, in what field? You know I think John Wayne Gasey was more intelligent than me, but in a totally undesirable field in comparison to my standards. Unfortunately you are boring me with your negative comments about this Great City and the actions being taken by our governing entities and representatives who are doing everything possible to make this Great City even Greater.
Gerard Schilling January 27, 2014 at 05:34 AM
Dream on jimmy your blind allegiance to stupidity and corruption will only lead to the destruction of your utopian society faster then otherwise would be the case. Only people who are obsessed with intelligence usually have very little of it especially when it is described as common sense.
Gerard Schilling January 27, 2014 at 08:01 AM
Jimmy, Additional Ruminations. You always refer to your standards which are the typical run of the mill socialists who like to spend other people’s money to enhance and sustain their own existence while always depriving the average person from exercising their freedom of choice/speech because you clowns believe you know better and it is your way or the highway. Guess what, people like me and there are more of us then you aren’t going to take it anymore and the rise of conservative groups like the tea parties are a manifestation of this new freedom movement and possibly the only thing that will save this country from a complete big government take over. Your continued over the top accolades of our city and its performance in all areas proves the point that you are not in the less bit objective but rather an idealist with an agenda to make all of us peons of the state. We the people created the states and the Federal government not the other way around!
Michael Hunt January 28, 2014 at 05:45 PM
It's a thankless dead-end job, Gerry, being the No. 1 critic of an popular, desirable, successful, award-winning city. Why don't you set your sites a little lower and go rip apart Bolingbrook for a while?
Gerard Schilling January 28, 2014 at 05:59 PM
Not at all Mike. It took many years to lose our freedoms and be bankrupt by corrupt, greedy, politicians and their political hacks,cronies and enablers and it will take many years to return to Constitutional adherence where citizens regain their birth rights. Every day more and more people are waking up and taking individual steps to correct this obvious imbalance.


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