Here are the most updated Naperville housing market stats you can find

By
Real Estate Agent with RE/MAX of Naperville

Time for your monthly installment of the Naperville single family home housing market update. As always, this information is mined via AgentMetrics which is produced by Terratatum and, as a member of the Mainstreet Organization of Realtors, I have access to. Without further ado ...

Monthly Supply of Inventory is down ... significantly

The monthly supply of inventory (calculated with under contract homes) was at a 7.3 clip in February. Comparatively, this is the first time the months are are in single digits since August 2010 and the lowest since April 2010 (5.6 MSI-UC). February 2010 was 9.3 and February 2009 was 14.4. This number is also down 29% from last month.

Absorption rate is up

The percentage of home inventory under contract was at 11% in February and homes sold were at 6%. Both of these numbers are up significantly from January and also up from the last two Februarys.

Median price and units sold have increased

For February, the median price for single family homes has increased 3% from January up to $395,000. February's median price is Naperville's highest since September 2010. February 2011's median price is also signficantly higher than February 2010 ($325,000) and 2009 ($345,000).

Naperville saw 51 home closings which is up from January, about even from February 2010 and up heavily over February 2009.

All in all these are good signs for a strengthening local housing market. As always, I urge caution while using these statistics as there's no exact was to project the market in a continued roller coaster-type marketplace. The good news is, though, if you've been following my monthly reports, the arrow has been pointing in the right direction for more months than not as of late.

Posted by

Bill White, Jr.

RE/MAX of Naperville

REALTOR, Associate Broker

630-730-1300

http://billwhitehomes.com

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Rainer
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Chris Miller Nevada Land with Water Rights
Vegas Grand Realty and Property Management - Mesquite, NV
Land with Water Rights For Sale

Given all the headwinds facing residential real estate it is hard to believe any market in IL could be stable unless it has a corn or bean field with water rights included with it.

Mar 10, 2011 07:09 AM #1
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Tamara Schuster
Naperville Glen Ellyn Lisle Plainfield Wheaton Illinois - Naperville, IL
Realtor Broker - Naperville

This is great news and we are still seeing great signs of the strengthening market here in the Naperville area. Thanks for all the great information so encouraging.

Mar 26, 2011 03:10 PM #2
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Rainer
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Bill White, Jr.

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