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What is Happening to the Naperville Real Estate Market?

I just compared data for closed properties in Naperville Illinois for October 1st 2005 thru October 31st 2005 and compared it to the same time this year.

Findings:
#1-27.74% less homes closed in 2006.
#2-The homes that did close took 21.68% longer than the homes closed in 2005. (101 days in 2006 vs. 83 days in 2005)

#3-The sale Price to list price ratio dropped from 97.12% in 2005 to 96.21 in 2006.

#4-The average sale price of closed properties rose in 2006. 17.45%

I think it's interesting that the prices are going up but the volume is going down? I will be keeping an eye on these stats month by month. If anyone has a comment or opinion on what exactly might be causing this to happen please feel free to contact me.

Enthusiastically,

Scott Gerami-ABR,GRI,e-Pro
Broker Owner
Real Time Realty,LLC.

630-357-4800-Direct
630-670-5802-Cellular
630-769-8051-Fax

www.Naperhomes.com

Posted by Scott Gerami on 11/15/2006 08:39 AM

Comments (1)

naperville, market, closed

This post has been included in Illinois Information Du Page County, IL Information Naperville, IL Information

1 Comments on What is Happening to the Naperville Real Estate Market?

Seems like it just took a little longer to hit Napierville. The Boom hit Florida last year as well and now.... it is flat as a pancake. Our housing costs jumped to 34% over last year. Income however has NOT risen proportionately, wich has made the cost of owning a home out of reach for most. Home sales went from 1200 available last year to over 7000 available now. New home contracts cancellations are up to 42% over 20% a year ago. If what is happening here happens there...you are in for a very slow year.

11/15/2006 08:56 AM

by Allison Stewart REALTOR ®St. Cloud Florida (Florida Pines Realty, Inc)

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What does the graphic say?