The main question we always get asked as real estate agents – how’s the market? Check out the latest update on the Naperville area’s housing market and the Naperville Housing Market Trends Report for August 2023*.
August 2023 Housing Market Report for Naperville, Illinois
The Month’s Supply of Inventory (MSI) for attached and detached homes in Naperville for Aug 2023 did go up but, it’s just slightly above that 1 Month’s Supply of Inventory mark. In Naperville, there were 222 attached and detached homes available for sale. And, we had 187 homes close which is down 30.74% year over year from August 2022. The average selling price per square foot for August 2023 was $245, increasing just a bit from July 2023.
The average days on market increased to 17 days. And, homes are still selling for over 100% of the listing price.
All in all, interest rates are still high, inventory is still low and home prices are holding steady in the Chicago suburbs. “It’s good to see median sale prices holding, but I would not say this is a normal market. Six months of inventory is typical, and right now we have less than three months of inventory in Chicagoland,” said Debbie Pawlowicz, president for the Mainstreet Board of Directors, in a recent press release. “Lack of inventory drives all of the other trends we’re seeing.”
Curious as to what you should do in your unique situation? Give The Ville Team a call to consider your best solutions and next moves. 630-420-8834
For more information, click here to download the Full Market Report – Naperville.
Click here to download the Market Report by Price Point for Naperville.
*Based on information from Midwest Real Estate Data LLC for property type(s) Single Family, Townhome, Condominium in the price range $0 – $999,999,999 for the period May 2023 – Aug 2023. August 2023 stats are compared to previous 3 months’ average. Source data is deemed reliable but not guaranteed.
What about the housing market report in other areas?
Plainfield, Illinois
Download the Full Market Report and/or the Market Report by Price Point for Plainfield, Illinois.
Lemont, Illinois
Download the Full Market Report and/or the Market Report by Price Point for Lemont, Illinois.
Ready to buy or sell your home? Contact The Ville Team today at (630) 420-8834.
Click here to see previous Housing Marketing Reports.