Overall prices appear to have increased by about 8% over the same period last year (see charts below) while overall unit sales have declined a fairly dramatic 20%. An interesting twist though is that the Naperville Luxury Home market (Homes priced at $1,000,000 and over) has taken a significant jump in sales of about 28%, bucking recent trends. This is due largely to the continued interest in Naperville's thriving downtown sector and terrific commuter service
For the first 11 months of 2006 overall sales in Naperville are down almost 21% over the previous 11 month period in 2005
TOTAL LISTINGS AVERAGE DAYS ON MARKET MEDIAN PRICE AVERAGE PRICE HIGHEST PRICE LOWEST PRICETOTAL DOLLAR VOLUME
| 2482 | 75 | $370,000 | $420,548 | $2,295,000 | $100,000 | $1,043,801,949 |
For the first 11 months of 2005 sales in Naperville were a touch more robust:
TOTAL LISTINGS AVERAGE DAYS ON MARKET MEDIAN PRICE AVERAGE PRICE HIGHEST PRICE LOWEST PRICETOTAL DOLLAR VOLUME
| 3098 | 68 | $356,425 | $388,677 | $2,850,000 | $21,000 | $1,204,122,909 |
Here is a supply and demand chart for the past two years:
And here is a rather dramatic chart showing rising Inventory levels (MSI = Months Supply of Inventory)
What does this mean to you, the consumer?
That in a slowing market there are unique opportunities for the shrewd homebuyer or investor. For more information please don't hesitate to contact Angus at 630-717-7386 or through my site at Naperville Real Estate
;)
;)
Moo - great visuals to get across the activity in your market. I find that in my market, when the high-end market starts moving, as yours is, the rest of the market will follow.
Ann