April showers bring May buyers?

By
Real Estate Agent with RE/MAX of Naperville

During an April that felt like a canoe was a transportation necessity, Naperville sales were pretty flat in comparison to March as well as comparing to April 2010.

April 2011 saw 87 Naperville single family home closings which was ever so slightly up from March (86), up from April 2009 (75) but down from April 2010 (108). Median sale price was $375,000 which marked the first month below $380,000 since December 2010.

The amount of homes that went under contract (pending sales) in April, however, are up 16% in comparison to March. Also up for the second straight month? The inventory of homes for sale.

The monthly supply of inventory is down to 5.9 which marks the fourth straight month of a decline despite two straight months of rising overall inventory. This should correlate with absorption rate which continues to show a healthy improvement.

The past two May months have seen increases over April sales. Visit again next month as I'll have an analysis of May 2011's Naperville market.

Posted by

Bill White, Jr.

RE/MAX of Naperville

REALTOR, Associate Broker

630-730-1300

http://billwhitehomes.com

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