Naperville Housing Market
Housing markets are very localized. A trend seen across the country may be reduced in the local market, not seen at all, or may even be reversed in some cases.
Understanding your local market(s) can help you tremendously with your home search.
Around the middle of the month, I publish a snapshot and a deep dive of the current Real Estate Market in Naperville.
Whilst the snapshot contains useful information, it can only tell us so much, so I also delve a bit deeper to provide greater insight into how the market is faring and how it has changed over the last year.
The snapshot can be seen above and the deeper dive can be seen below.
What we're seeing across the nation, and across Illinois, is that homes are selling fast, for close to list price and that sales prices are going up, month after month.
There are less homes on the market than the buyer demand warrants and unless more homes come on the market, we'll continue to see a Seller's Market, with multiple offer situations common in a lot of home sales (almost half).
If we look at the Naperville Housing Market, we see the same pattern as we are seeing in Illinois and across the nation.
If you are looking for a home in Naperville, get in to see any potential homes as soon as possible, and if you like the home, put in the offer as quickly as possible, and make it as strong as possible.
This doesn't just apply to homes that are new on the market. It also applies to homes that have had a recent price change, or which have just come back on the market after a home sale fell through.
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Median Sales Prices per Sq. Ft.
Percentage of Homes Sold Above Asking
It's a Seller's Market in most Towns
The Price per Sq. Ft. of Homes is Increasing across Illinois
New in Naperville for $500k or under
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