The Vice President, Strategic Growth of Coldwell Banker Realty Naperville, John Carlson, stopped by the blog to give us the latest update on Naperville’s housing market and the Naperville Housing Market Trends Report for March 2022.
April 2022 Housing Market Report for Naperville, Illinois
Baby steps, but the availability of attached and detached home have increased from 177 homes in March to 202 homes in April 2022. The Month’s Supply of Inventory is still at a historic low of .9 supply of homes—this statistic measures the velocity of home sales and means, given the current sales level, if no more homes entered into the market, we would have no homes available for sale in less than a month. The most active sales category are homes selling between $601k-$750k, where 100 homes went to pending in April. For closings, Naperville had 228 attached and detached homes close in comparison to 290 homes that closed last April—a drop of 21.4% in units. If you are a seller—good news—the average sold price was $536,638 up 11.6% from $480,668 in April 2021. The average time for a home to go under contract is at a low point of 13 DOM. The average price per square foot is at a high of $223 versus $191 per square foot last April—an increase of 16.2% year over year. And lastly, the selling price versus listing price ratio is at 102.8%–yes, the seller is getting their price, and then a little more. If you are thinking of selling, you have an extraordinary opportunity to get top dollar and more than likely sell quickly. If you are a buyer, please buy now. Mortgage rates are still historically low, but on the rise—don’t get priced out of the market—buy today, while the rates remain below 6%.
For more information, click here to download the Full Market Report.
Click here to download the Market Report by Price Point.
Ready to buy or sell your home? Contact The Ville Team today at (630) 420-8834.
Click here to see the other recent Naperville Housing Marketing Reports.