June 2023 Housing Market Report

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 June 2023*.

June 2023 Housing Market Report for Naperville, Illinois

The Month’s Supply of Inventory (MSI) for attached and detached homes in Naperville for June 2023 went down again and has reached below 1 Month’s Supply of Inventory. In Naperville, there were 199 attached and detached homes available for sale. And, we had 252 homes close which is up over 44% from the previous month. The average selling price for June 2023 was $606,992, up 2.61% over May.

The average days on market rose slightly to 16 days. The price per square foot is $238 staying steady from May 2023. And, homes are still selling for over 100% of the listing price.

How does this correlate with mortgage rates? An article featuring the Chief Economist at the National Association of Realtors, Lawrence Yun, took a look at the market and the chance of seeing the super low mortgage rates again.

“One can never truly predict the future, but I don’t see mortgage rates returning back to the 3% range in the remainder of my lifetime,” Yun says.

Moral of the story: Don’t wait to make a move – no matter if you buy or sell.

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 Jan 2023 – May 2023. May 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? 

Ready to buy or sell your home? Contact The Ville Team today at (630) 420-8834. 

Click here to see previous Housing Marketing Reports.