What have home prices been doing in Naperville this year?
Median home prices in Naperville IL been holding steady for the last year. We’re currently seeing a median list price of $425,000. The chart below is a good comparison of median list prices vs. median sales prices in Naperville IL during the last 12 months. As you can see, home buyers and sellers were fairly aligned all year.
Are home prices in Naperville IL going up or down?
Home prices in Naperville were down 6% in January compared to December. The median sales price right now is $356,000. Comparing this year-over-year we see a 1.7% increase in sales price.
Is Naperville in a buyers or sellers market right now?
If you’ve been on the fence about selling your home, now is a great time! Inventory of homes for sale in Naperville is low at 4.1 months. Anything between 3-6 months could be considered a stable market so we’re on the lower end of that. Inventory below 3 months puts us in a sellers market where prices can rise and market times fall. Over 6 months and a buyers market takes over resulting in lower prices and longer market times.
What types of homes are for sale in Naperville right now?
A lot of Naperville homeowners may be concerned about foreclosures and short sales dragging down the market. Actually, we’ve seen the numbers of bank-owned and distressed properties fall in Naperville. In January, 95% of homes for sale were traditional sales. There were 26 foreclosures on the market, this has remained low all year and is at the lowest point since November 2008. Short sales are on the decline as well and are at the lowest point in recent history. Home prices in Naperville IL are not being affected by these factors.
How long is it taking to sell a home in Naperville right now?
The median market time for a home in Naperville is at 44 days. This is down slightly over the last 12 months. This could indicate more buyers entering the market, or an extension of the summer buying season.
Want a rough idea of your home’s current value?
Fill out the form below to view an online analysis of your Naperville IL home price. While not as accurate as meeting with us in person, it can help you determine if selling your Naperville home makes sense right now.
Looking for something more accurate?
The Kombrink Lobrillo Team at RE/MAX All Pro takes a very analytical approach to pricing your home. Using a process similar to that of an actual home appraiser, our in-depth analysis produces a pricing strategy to get your home sold for top dollar in the least amount of time. Combine that with our top notch marketing strategy and we’ll help you realize your real estate goals before you know it.
Contact our Naperville Listing Specialist, Matt Kombrink, today to arrange for a complimentary home pricing analysis of your home. Matt can be reached at 630-488-3300.