March 2023 Naperville Housing Market Report

The main question we always get asked as real estate agents – how’s the market?  Check out the latest update on Naperville’s housing market and the Naperville Housing Market Trends Report for March 2023*.

March 2023 Housing Market Report for Naperville, Illinois

The Month’s Supply of Inventory (MSI) for attached and detached homes in Naperville for March 2023 went down again to only 1.08 MSI. In Naperville, there were 155 attached and detached homes available for sale. In March 2023, 143 homes closed which is up over 75% from the previous month. And, the average selling price for March 2023 was $518,287, a decline of just over 5% from last March.

The average days on market decreased significantly from February and is now only 25 days. The price per square foot is $227 remaining steady from last month. Homes are still selling for over 100% of the listing price.

To sum it up, inventory is even lower than it has been in recent months. If you’re thinking about selling, NOW is the time! It’s a unique market with multiple offer situations. Not to mention, as of March 30th, mortgage rates have slide to the lowest level in six weeks and are currently still on the decline. This benefits both the buyers as well as the hesitant sellers who need to buy in order to move.

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 Dec 2022 – Mar 2023. Mar 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.